Industrivärden (INDU) Q3 2024 earnings summary

Executive summary

• Net asset value reached SEK 162.8 bn (SEK 377/share) as of September 30, 2024, up 8% or SEK 29/share year-to-date.

• Total return for Class A shares was 17% and for Class C shares 16%, outperforming the SIXRX index at 15% for the period.

• Net income for the first nine months was SEK 15,841 mn, or SEK 36.68 per share, compared to SEK 11,273 mn (SEK 26.10/share) year-over-year.

Financial highlights

• Dividend income totaled SEK 8,467 mn, up from SEK 6,418 mn in the same period last year.

• Change in value of shares contributed SEK 7,632 mn, compared to SEK 5,142 mn year-over-year.

• Operating income was SEK 16,007 mn, up from SEK 11,464 mn year-over-year.

• Equity ratio remained strong at 95% as of September 30, 2024.

• Net debt decreased to SEK 6,172 mn (debt-equities ratio 4%), down from SEK 7,295 mn (5%) a year earlier.

Outlook and guidance

• No significant events have occurred after the balance sheet date; no changes to outlook or guidance were provided.