23.10.2015 08:05:09
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Kinnevik: Interim Report 1 January - 30 September 2015
OPERATING COMPANIES' PERFORMANCE
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Millicom organic revenue growth of 7% in local currency (excluding UNE), Tele2 mobile end-user service revenue growth of 5%
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Zalando's preliminary third quarter revenues grew 41-43% with an EBIT margin of -2.5 to -4.5%
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Global Fashion Group announced net sales growth during the first half-year of 63%
KINNEVIK INVESTMENT ACTIVITIES
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Net investments focused on existing companies, amounting to SEK 375m whereof, as announced in the previous quarter:
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SEK 173m into Global Fashion Group
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SEK 171m into Quikr
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Net investments of SEK 864m for the first nine months and guidance of SEK 1.0-1.5bn for the full year 2015
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On 23 October Kinnevik announced it had entered into an agreement to sell its entire 31% stake in Avito to its co-shareholder Naspers for a total consideration of USD 846m (SEK 7.1bn as at 30 September 2015). The transaction is conditional upon relevant consents from anti-trust authorities and the South African Reserve Bank
KINNEVIK FINANCIAL POSITION
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Net Asset Value of SEK 82.1bn or SEK 296.01 per share, down by SEK 5.2bn in the quarter driven by a SEK 7.7bn decrease in the value of the listed investee companies and a SEK 2.6bn increase in the value of the unlisted investee companies
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Strong balance sheet with a net cash position of SEK 34m and SEK 5.9bn in undrawn credit facilities (excluding operating subsidiaries)
This announcement is distributed by Nasdaq OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Kinnevik via Globenewswire
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Kinnevik via Globenewswire
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