Brief: Kinnevik Q3 Net Result Turns To Loss Of SEK 317 Mln

Kinnevik AB

20/10/2021 07:48

Oct 20 (Reuters) - Kinnevik AB  KINVb.ST :
    * REG-KINNEVIK: INTERIM REPORT 1 JANUARY – 30 SEPTEMBER 2021
    * NAV OF SEK 75.8BN (SEK 273 PER SHARE), DOWN SEK 0.3BN OR
0.4% IN
QUARTER AND UP SEK 13.3BN OR 21.3% YEAR-ON-YEAR
    * NET CASH POSITION OF SEK 1.8BN, CORRESPONDING TO 2.4% OF
PORTFOLIO VALUE BY QUARTER-END
    * Q3 NET PROFIT / (LOSS)  SEK -317 MILLION
    * INVESTED SEK 2,266M IN THE Q3
    * AFTER A SUSTAINED PERIOD OF ELEVATED MULTIPLES, WE SAW A
CORRECTION IN E-COMMERCE AND HEALTHCARE THIS QUARTER, IMPACTING
VALUATIONS
    * OUTLOOK: WE EXPECT AN EXTRA DIVIDEND OF MORE THAN SEK 2BN
FROM
TELE2’S DIVESTMENT OF T-MOBILE NETHERLANDS
    * OUTLOOK: AND AN ADDITIONAL SEK 3BN FROM OUR COMMITMENT TO
SELL A
STAKE IN VILLAGEMD TO WALGREENS BOOTS ALLIANCE AS THE TWO
COMPANIES EXTEND THEIR PARTNERSHIP. THE LATTER TRANSACTION IS
EXPECTED TO CLOSE IN THE FOURTH QUARTER OF THIS YEAR.
    * Q3 OPERATING PROFIT/LOSS AT SEK -306 MILLION VERSUS SEK 20
197
MILLION YEAR AGO
    * WITH SEVEN COMPANIES ADDED IN 2021 AND SEK 4.0BN INVESTED
IN
TOTAL, WE ARE ON TRACK TO DEPLOY MORE CAPITAL THAN WE GUIDED FOR
AT THE BEGINNING OF THE YEAR BOTH IN TERMS OF NUMBER OF NEW
COMPANIES AND INVESTED CAPITAL.

Source text for Eikon:  ID:nGNEmg4bV 
Further company coverage:  KINVb.ST 

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