Investor (INVE) Q3 2024 earnings summary

Executive summary

• Adjusted net asset value grew 2% in Q3 2024 to SEK 986.3 billion, reaching an all-time high, with a five-year average annual growth of 19% including dividends.

• Total shareholder return was 8% in Q3, outperforming the SIXRX index's 4%; year-to-date, listed companies delivered a 23% TSR.

• Major subsidiaries achieved 7% organic sales growth and 8% adjusted operating income/EBITA growth year-over-year.

• SEK 1.9 billion in add-on acquisitions completed, supporting long-term competitiveness, with significant deals in Piab Group and Sarnova.

• The market environment remains challenging with high competition and macroeconomic uncertainty, but opportunities exist in innovation and acquisitions.

Financial highlights

• Net sales for Q3 2024 were SEK 15,733 million; for 9M 2024: SEK 46,809 million.

• Group LTM sales and EBITDA, including 40% in Tre, were SEK 66 billion and SEK 16 billion, respectively.

• Result per share Q3 2024: SEK 4.18; 9M 2024: SEK 47.35.

• Total return on the share was 36% for 9M 2024, with 8% in Q3.

• Dividends from listed companies amounted to SEK 12,548 million during 9M 2024.

Outlook and guidance

• Continued focus on profitable growth, efficiency, innovation, and strategic add-on acquisitions to drive long-term value.

• Add-on acquisitions remain a strategic priority, with recent deals in China and the US to strengthen Piab Group.

• No specific guidance on future growth rates, but optimism for continued growth in key products and segments.