Kinnevik : Interim Report 1 January - 30 June 2014

Highlights 

Lorenzo Grabau assumed the role of CEO of Kinnevik on 1 May. Kinnevik will focus on building a select number of leading digital consumer brands through key partnerships around the world.Compared to the first half of 2013, Kinnevik's proportional share of its investee companies' revenues grew by 10% with E-commerce & Marketplaces growing 38%.Based on preliminary numbers for the first half of 2014, Zalando reached revenues of EUR 1,020-1,060m and recorded an operating profit during the second quarter, resulting in an operating result around breakeven for the first half of 2014.In May, Bigfoot I and Bigfoot II shares were transferred from Rocket Internet to Kinnevik, increasing its direct ownership by 5.5% in Bigfoot I and 4.6% in Bigfoot II.In June, Rocket Internet's legal form was transformed into a German stock corporation (AG).On 30 June, Kinnevik had a net cash position of SEK 1.1bln in the parent company. Revised guidance for new investments for the full year 2014 is SEK 1.0-1.5bln.Kinnevik was included in the OMXS30 index on 1 July.

Q2

The net asset value increased during the quarter by 4% corresponding to SEK 2,326m, after a dividend paid of SEK 1,941m, and amounted to SEK 68,509m at the end of June, corresponding to SEK 247 per share.The increase in net asset value was driven by a positive change in fair value of SEK 5,325m related to the unlisted holdings and a negative change in fair value of SEK 775m related to the listed holdings, net of dividends received.Profit per share amounted to SEK 15.02 (0.62).New investments amounted to SEK 140m, of which SEK 132m into E-commerce & Marketplaces.The share price increased 19% to SEK 284.80 at the end of June.

 H1

The net asset value increased during the first half year by SEK 2,982m.Profit per share amounted to SEK 17.52 (loss of 5.21). New investments amounted to SEK 616m, of which SEK 514m into E-commerce & Marketplaces. 

 

 

Press release


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Source: Kinnevik via Globenewswire
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