Investor (INVE) Q2 2016 earnings summary

Executive summary

• Stable Q2 despite a challenging environment; continued execution on strategy.

• NAV ended the quarter at SEK 259.1bn, with 2% growth adjusted for dividends paid.

• Listed Core Investments represented 77% of total assets, Patricia Industries 18%, and EQT 5%.

Financial highlights

• NAV decreased SEK 3.2bn during Q2 to SEK 259.1bn; total shareholder return for the B share was 1% versus a flat SIXRX Index.

• NAV contributions: Listed Core Investments SEK 1.676bn, EQT SEK 1.099bn, Patricia Industries SEK 2.0bn, and Groupwide SEK -7.974bn.

• Listed Core Investments had SEK 212.2bn in value; EQT SEK 13.3bn; Patricia Industries SEK 51.2bn.

Outlook and guidance

• SEK 8.3bn in dividends from Listed Core Investments expected in 2016, compared with SEK 7.7bn in 2015.

• Listed portfolio businesses continued adapting to market demand and capturing opportunities.

• Patricia Industries focused on existing subsidiaries, divesting legacy holdings, and identifying new subsidiaries.