Investor (INVE) investor relations material

Executive summary

• Adjusted net asset value rose 13% year-over-year to SEK 1,215 billion, with a 9% increase in Q2 2026 and a 23% total shareholder return for H1 2026, outperforming the SIXRX index.

• Listed Companies delivered a 14% total return in Q2 and 20% in H1, led by ABB's strong performance from electrification and data center demand.

• Patricia Industries and Investments in EQT contributed negatively in Q2, with Patricia's total return at -3% and EQT at -2%; EQT saw a -15% value change in H1.

• Strategic actions included participation in Electrolux's SEK 1.7 billion rights issue, investments in EQT, and joint ventures for portfolio optimization.

• Leverage decreased to 1.9%, with gross cash at SEK 28,800 million and average debt maturity of 8.7 years.

Financial highlights

• Adjusted net asset value at quarter-end was SEK 1,215 billion, up 9% from Q1.

• Listed Companies portfolio outperformed the SIXRX index by 5 percentage points in Q2.

• Patricia Industries' major subsidiaries saw 7% organic sales growth and 16% adjusted EBITDA/EBITA growth.

• Profit for H1 2026 was SEK 147,395 million, with basic EPS of SEK 48.11.

• SEK 29 billion in cash at hand; leverage at 1.9%, at the lower end of policy range.

Outlook and guidance

• Continued focus on innovation, AI, automation, and sustainability to drive long-term growth.

• Management remains confident in the platform, strategy, and portfolio quality despite market volatility.

• Ongoing expansion in high-growth markets, such as China, through joint ventures and partnerships.

• Med tech remains a long-term growth area despite current multiple pressure and softer market conditions.

• Expectation to maintain strong cash flow and a steadily rising dividend.