Investment AB Kinnevik: Interim management statement 1 January - 31 March 2014

Highlights  

Kinnevik invested USD 39.3m in the leading Indian online classified site Quikr.Kinnevik invested USD 9.7m in Milvik/Bima in a funding round with existing investors amounting to USD 22m.Revenues in Avito increased by 167% to USD 73.7m for the full year 2013 with an EBITDA margin of 28%.Kinnevik CEO Mia Brunell Livfors informed the Board of her intention to step down as CEO. The Board has appointed Lorenzo Grabau as CEO of Kinnevik from 1 May 2014.

Financial results for the first quarter

The net asset value increased during the quarter by SEK 656m, and amounted to SEK 66,183m at the end of March, corresponding to SEK 238.66 per share.Out of the increase in net asset value, SEK 977m consisted of an increase in fair value of listed holdings and a negative SEK 111m change in fair value of unlisted holdings.Profit per share amounted to SEK 2.50 (loss of 5.83).New investments amounted to SEK 469m, of which SEK 382m into E-commerce & Marketplaces.Zalando's trading update for the first quarter will be reported separately by Zalando and Kinnevik on 9 May, 2014.Press release


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Source: Kinnevik via Globenewswire
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