Development in the operating companies
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Zalando had a preliminary revenue growth in the first quarter of 22-24%, and an indicative EBIT-margin of 1-3%
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Millicom’s organic tjänsteintäkter decreased by 2% in the first quarter, and the EBITDA margin amounted to 37%
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Tele2’s net sales in the first quarter increased by 22% and the EBITDA margin amounted to 22%
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GFG had a revenue growth for the full year 2016 of 26% and an EBITDA margin of -13%
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MTG reported an organic sales growth in the first quarter of about 8% and an EBIT margin of 4%
Investment activity
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Investments a total of Sek 195 million in the first quarter, of which
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112 M (12,5 MILLION) for a stake of 3.5% in the digital health care company Livongo
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Sek 74 million (sek 6.7 MILLION) in Babylon
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Total sales of 2.1 Billion, of which
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Sek 2.0 Billion (eur 207 MILLION) relating to the sale of half of Kinnevik’s earlier holding in Rocket Internet
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50 Million relating to the sale of Metro Sweden
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- On 27 april, Kinnevik announced that it has signed an agreement to acquire 18.5% of Com Hem for a cash consideration of 3.7 Billion
Financial position
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Net asset value amounted to eur 79.5 Billion (289 sek per share), an increase during the quarter by 10% or 7.1 Billion, driven by a rise of 7.3 Billion, or 12% of the value of the listed holdings, of which Millicom 4,1 Billion and Tele2 To 1.9 Billion
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Net cash 0.4 Billion at the end of the quarter
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Bond issue of sek 1.0 Billion in the newly established MTN Programme with a framework of a total of sek 4.0 Billion
This information is such information that Kinnevik AB (publ) is obliged to publish under the EU marknadsmissbruksförordning and the law on the securities market. The information was submitted, through the following contact person in the government, for publication on 27 april 2017 there is a 08.00 CET.
For further information, please visit www.kinnevik.com or contact:
Torun Litzén, Information and IR manager
Telephone +46 (0)8 562 000 83
Mobile +46 (0)70 762 00 83
Kinnevik is a sektorfokuserat investment company that is passionate about entrepreneurship. Together with driven founders and business leaders, we build digital konsumentbolag that offers people more and better choices. We create, invest in and lead the rapidly growing businesses in both developed and emerging markets. We believe in delivering both shareholder value and social value, and by building well-governed companies that contribute positively to society. Kinnevik was founded in 1936 by the families of Stenbeck, Klingspor and von Horn.
Interim report January 1 – march 31, 2017