Swedish firm Investor AB's adjusted NAV rises 4% in Q3 on Patricia Industries strength
Swedish firm Investor AB's adjusted NAV rises 4% in Q3 on Patricia Industries strength
Overview
Sweden investment holding firm's Q3 adjusted NAV rose 4% to SEK 1,258 bln
Total shareholder return for Q3 was 1%, lagging the SIXRX return index
Patricia Industries' major subsidiaries reported 12% sales growth and 26% adjusted EBITA growth
Outlook
Company did not provide specific financial guidance for the current or future periods in the press release
Result Drivers
PATRICIA INDUSTRIES PERFORMANCE - Co said Patricia Industries' total return was 15%, driven by earnings growth, multiple expansion and positive currency impact
SUBSIDIARY SALES AND PROFIT GROWTH - Patricia Industries’ major subsidiaries reported 12% sales growth, of which 7% organically in constant currency, and adjusted EBITA grew by 26%
EQT INVESTMENT VALUE - Co said value change of investments in EQT was 7% in Q3
Company press release: ID:nWkr89bFys
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Adjusted Net Asset Value |
| SEK 1.26 trln |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the investment holding companies peer group is "buy."
Wall Street's median 12-month price target for Investor AB is SEK417.00, about 0.9% above its October 15 closing price of SEK413.25
The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 21 three months ago
Reuters Recommended Reads
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Oct 15 - Sweden's Wallenstam nine-month profit rises on wind divestment
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)