Industrivärden (INDU) Q1 2025 earnings summary

Executive summary

• Net asset value as of March 31, 2025, was SEK 167.4 bn, or SEK 387 per share, up 5% from year-end 2024.

• Total return for Class A and C shares was 5% in Q1 2025, outperforming the SIXRX index at 0%.

• Net income for Q1 2025 was SEK 7,756 mn, or SEK 17.96 per share, down from SEK 16,520 mn (SEK 38.25 per share) in Q1 2024.

• The Board proposes a dividend of SEK 8.25 per share for 2024, totaling SEK 3,563 mn.

Financial highlights

• Dividend income in Q1 2025 was SEK 4,191 mn, compared to SEK 7,258 mn in Q1 2024.

• Change in value of shares was SEK 3,681 mn, down from SEK 9,416 mn in Q1 2024.

• Operating income for Q1 2025 was SEK 7,838 mn; net income was SEK 7,756 mn.

• Net asset value increased by SEK 18 per share during the quarter.

• Market value of the equities portfolio was SEK 171,171 mn at quarter-end.

Outlook and guidance

• No significant events have occurred after March 31, 2025.

• The AGM is scheduled for April 10, 2025, with a proposed dividend record date of April 14, 2025.