"As an engaged owner, we focus on future-proofing our companies. Developing and taking advantage of new technologies, and capturing opportunities related to climate change are critical for long-term profitable growth. While never compromising on key strategic investments, companies must also handle the current market environment. I believe that our companies are doing a good job balancing short-term efficiency focus with long-term initiatives."
Highlights during the third quarter- Adjusted net asset value (NAV) amounted to
SEK 760,319m (SEK 248 per share) on September 30, 2023 , a decrease of SEK -12,741m , or -2 percent, during the quarter. Total shareholder return amounted to -3 percent, compared to -6 percent for the SIXRX return index. -
Listed Companies generated a total return of -3 percent. The remaining shares in Accelleron were divested for a total
SEK 2.6bn , resulting in total divestment proceeds of SEK 3.6bn . -
Based on estimated market values, the total return for
Patricia Industries , excluding cash, amounted to 0 percent (0 percent including cash). Earnings growth and cash flow contributed positively, offset by multiple contraction and negative currency impact. -
Within
Patricia Industries , sales growth for the major subsidiaries amounted to 10 percent, of which 5 percent organically in constant currency. Reported EBITA grew 19 percent and adjusted EBITA grew 18 percent. -
Mölnlycke reported organic sales growth of 4 percent in constant currency, mainly driven by Wound Care growing at 8 percent. The EBITA margin improved slightly.
-
The value change of Investments in EQT was 1 percent. Net cash flow to Investor amounted to
SEK -1,127m . -
Leverage was 2.0 percent as of
September 30, 2023 (1.5 percent as of December 31, 2022 ). Gross cash amounted to SEK 24,067m and the average maturity of Investor AB's debt portfolio was 11.1 years on September 30, 2023 .
This information is information that
For further information:
Phone +46 70 550 3500
viveka.hirdman-ryrberg@investorab.com
Magnus Dalhammar, Head of Investor Relations,
Phone +46 73 524 2130
magnus.dalhammar@investorab.com
Our press releases can be accessed at www.investorab.com
Investor, founded by the Wallenberg family in 1916, is an engaged owner of high quality global companies. We have a long-term investment perspective. Through board participation, as well as industrial experience, our network and financial strength, we work continuously to support our companies to remain or become best-in-class. Our holdings include, among others, ABB,
https://news.cision.com/investor/r/interim-management-statement-january-september-2023,c3856381
https://mb.cision.com/Main/1084/3856381/2369688.pdf
(c) 2023 Cision. All rights reserved., source