A long-term industrial developer of listed companies

Size: px
Start display at page:

Download "A long-term industrial developer of listed companies"

Transcription

1 A long-term industrial developer of listed companies Interim Report, January - March Industrivärden, May 5, 2008 AN_Pres_KV108 Nr 1

2 Company in brief Established: 1944 Stock: Market cap: Free float: 386 million shares, listed on SSEX Approx. USD 6.5 bn (SEK 39 bn) Approx. 40% of shares No. shareholders: 42,000 Average daily trading vol.: Approx. 280,000 shares Coverage: Carnegie, Frida Willmansson, Enskilda Securities, Andreas Joelsson, UBS Nordic, Olof Cederholm Handelsbanken Markets, Magnus Dalhammar Low administrative expenses, USD 10 M or less than 0.2% of AUM Holding company tax status: no tax on capital gains, dividends received/rendered are taxable/deductible Discount to NAV approx. 21% AN_Pres_KV108 Nr 2

3 Mission, goal and strategy Business mission Create shareholder value based on a professional investment operation and active ownership Our goal Generate high growth in net asset value over time Industrivärden s stock will deliver a high total return to shareholders Portfolio Scope: Individual investments Market value: Type: Concentrated portfolio Large and midcap companies Mainly listed Conditions Sectors: Business models: Ownership structure: Investment horizon: Sector generalist Geographically scalable Possibility to be major or largest owner 3-8 years Exit: Appropriate exit once target value has been created Geography: Requirement: Nordic companies Major potential for value creation AN_Pres_KV108 Nr 3

4 Portfolio of quality companies Concentrated portfolio provides focus Industry-leading companies provide favorable future opportunities Substantial ownership positions provide influence Long-term focus enables influence through active ownership Professional organization Proven value creation over many years Depth of knowledge about portfolio companies and their business environments Major experience in strategic company development Lean, effective organization provides speed and flexibility Extensive network a strength Returns from short-term transactions cover Industrivärden s costs First-rate methods and models Own-developed work methods, models and systems vouch for high quality Structured processes for evaluating existing and new investments Proven model for profitable value creation AN_Pres_KV108 Nr 4

5 First quarter 2008 in summary The stocks total return well above the return index SSAB is divesting IPSCOs tubes division improved debt situation Active ownership: Continued high activity in the portfolio holdings AN_Pres_KV108 Nr 5

6 The reporting period in summary Equities Portfolio April 30 March 31 Dec. 31 market value, SEK M 59,296 59,270 65,844 Transactions acquisitions, SEK M ,834 sales, SEK M ,124 net, SEK M ,710 April xx 2008 SEK per share March Dec Debt net debt, SEK M 10,173 10,843 10,951 change in net debt ,408 net debt equity ratio 17,2% 18.3% 16.6% Net asset value net asset value, SEK M 49,068 48,370 54,837 change in NAV* -7% -12% 3% total return index -6% -11% 3% Equities portfolio Net debt Net asset value Discount A-share Discount C-share Discount A/C % 25% 21% % 22% 18% % 26% 22% The stocks total return Class A-share -4% -8% 14% total return index -6% -11% 3% * Change in NAV per Industrivärden share, dividends reinvested. AN_Pres_KV108 Nr 6

7 Financial position 17.2% Net debt (SEK bn) Net debt equity ratio SEK 10.2 bn 12,0 10,0 8,0 6,0 4,0 2,0 0,0 31-mar jun sep-01 AN_Pres_KV108 Nr 7 31-dec mar jun sep dec mar jun sep dec mar jun sep dec mar jun sep dec mar jun sep dec sep dec mar apr-08 20% 18% 16% 14% 12% 10% 8% 6% 4% 2% 0%

8 Industrivärden s dividend 6 7% 5 6% 4 4.4% 5% 3 4.0% 4% 3% Bonusutdelning dividend Ordinarie Ordinary utdelning dividend Direktavkastning SSEX dividend yield börsen Direktavkastning Dividend yield 2 2% 1 1% 0 0% Dividend: SEK/share Of which ordinary AN_Pres_KV108 Nr 8

9 Development of portfolio companies 1Q:2008 Op. income Δ, % Earn./share Δ, % PE-ratio Operating margin, % Δ, %pts Totalavk., % Mkr Kr (12 mths) 12 mths 98-08/yr Sandvik 08 3, , SHB 08 2, , SSAB 08 2, , SCA 08 2, , Ericsson 08 3, , Volvo 08 6, , Skanska(prel) 08 1, Indutrade Munters Höganäs Index AN_Pres_KV108 Nr 9

10 Active ownership strategic activities 07/08 Handelsbanken SPP sold for capital gain of approx. SEK 4 bn Greater focus on organic growth outside Sweden SSAB Acquisition of IPSCO forsek 50 bn increases capacity for niche products SEK 10 bn rights issue Ericsson Several acquisitions in Multimedia unit Sandvik Several strategic acquisitions SEK 3.6 bn share redemption SCA Skanska New business plan with focus on improved operating margins and significant increase in investments in development activities New financial targets set Johan Karlström new CEO in 2008 Indutrade Jan Johansson new CEO Concentration of packaging operations in Europe and Asia Strengthening of brand portfolio through acquisition of P&G s European tissue business Munters Addition of new product areas through company acquisitions SEK 494 M share redemption and 3:1 split Continuous acquisitions Foothold gained in the UK through two acquisitions AN_Pres_KV108 Nr 10

11 A portfolio of industry-leading companies Leading metal powder producer 1% or SEK 0.5 bn (2004) Leading player in complex construction projects 6% or SEK 3 bn (1987) World leader in moisture control 1% or SEK 0.7 bn (2002) Leading producer of heavy vehicles 7% or SEK 4 bn (1987) Leading high-tech company in materials technology 21% or SEK 13 bn (1997) Technology trading company active in northern Europe 4% or SEK 2 bn (1989) World s largest supplier of systems for mobile telecom 10% or SEK 6 bn (1944) Global consumer products and packaging company 12% or SEK 7 bn (1950) Successful universal bank with international growth based on a Nordic base 19% or SEK 11 bn (1963) World leading producer of specialty steel 19% or SEK 11 bn (1994) Portfolio share and value as per April 30, 2008 (Holding since). AN_Pres_KV108 Nr 11

12 Equities portfolio as per April 30, 2008 Value distribution % of portfolio % of capital % of votes Stock No. shares SEK M SEK/share value in company in company Sandvik 136,431,200 12, Handelsbanken A Handelsbanken B SSAB A SSAB B SCA A SCA B 68,285, ,900 56,265, ,794 48,600,000 22,200,000 11, , , Ericsson A Ericsson B 372,000,000 7,055,000 5, Volvo A 47,909,950 4, Skanska A Skanska B 15,010,000 17,314,800 3, Indutrade 14,757,800 2, Munters 10,950, Höganäs B 3,550, Hemtex 3,700, Total 59, AN_Pres_KV108 Nr 12

13 Good long-term growth in value The average annual excess return for last ten years was 2 %-points/year Total return index (Index) (c) SIX AB Industrivärden share Total Return Index (SIXRX) As per April 30, 2008 AN_Pres_KV108 Nr 13

14 Investment case comparable advantages Proven track record excess returns over a long period of time Cost-efficient organization less than 0.2% in management costs High quality portfolio of blue-chip companies Good financial resources and long-term perspective First-rate model for exercising value enhancement by active ownership Professional management team and organization Experienced directors nominated in our active holdings Valuable contact network with Nordic ties AN_Pres_KV108 Nr 14

15 Industrivärden online Reuters code Bloomberg code Datastream code INDUa.ST INDUA SS W :IU info@industrivarden.se Box 5403, SE Stockholm, Sweden Press release direct: / IR / Ask / Info... / Latest News / Subscribe AN_Pres_KV108 Nr 15

A long-term industrial developer of listed companies

A long-term industrial developer of listed companies A long-term industrial developer of listed companies Interim Report, January - September Industrivärden, October 31, 2008 AN_Pres_KV308 Nr 1 Mission, goal and strategy Business mission Create shareholder

More information

How To Rate A Stock On The Index Of The Kronos Index

How To Rate A Stock On The Index Of The Kronos Index Long-term industrial developer of listed Nordic companies Year-End 2009 Industrivärden, February 11, 2010 AN_Pres_KV409 Nr 1 Company in brief Established: 1944 Stock: Market cap: Free float: Rating: Listed

More information

Long-term industrial developer of listed Nordic companies

Long-term industrial developer of listed Nordic companies Long-term industrial developer of listed Nordic companies First three months 2010 Industrivärden, April 8, 2010 AN_Pres_KV110 Nr 1 Company in brief Established: 1944 Stock: Market cap: Free float: Rating:

More information

Long-term industrial developer of listed Nordic companies

Long-term industrial developer of listed Nordic companies Long-term industrial developer of listed Nordic companies First half year 2010 Industrivärden, July 5, 2010 AN_Pres_KV210 Nr 1 Company in brief Established: 1944 Stock: Market cap: Free float: Rating:

More information

Long-term industrial developer of listed Nordic companies First kvarter 2011 Industrivärden, April 5, 2011

Long-term industrial developer of listed Nordic companies First kvarter 2011 Industrivärden, April 5, 2011 Long-term industrial developer of listed Nordic companies First kvarter 2011 Industrivärden, April 5, 2011 KV111_eng Nr 1 Long-term industrial developer of listed Nordic companies Ericsson Volvo SSAB Sandvik

More information

Long-term industrial developer of listed Nordic companies Full year 2012 Industrivärden, February 6, 2012

Long-term industrial developer of listed Nordic companies Full year 2012 Industrivärden, February 6, 2012 Long-term industrial developer of listed Nordic companies Full year 212 Industrivärden, February 6, 212 KV412_eng Nr 1 Long-term industrial developer of listed Nordic companies Ericsson Volvo SSAB Sandvik

More information

Long-term industrial developer of listed Nordic companies Full year 2010 Industrivärden, February 9, 2011

Long-term industrial developer of listed Nordic companies Full year 2010 Industrivärden, February 9, 2011 Long-term industrial developer of listed Nordic companies Full year 2010 Industrivärden, February 9, 2011 Pres_KV410 Nr 1 Long-term industrial developer of listed Nordic companies Ericsson Volvo SSAB Sandvik

More information

Long-term asset manager and active owner of Nordic listed companies

Long-term asset manager and active owner of Nordic listed companies Long-term asset manager and active owner of Nordic listed companies Full Year 2015 February 5, 2016 Year-End presentation 12M 2015 1 Summary 12 months, 2015 The total return for the year was 15% for the

More information

Composition of net asset value SEK billion SEK per share 2003 2003 2002 2003 2003 2002 Parent company Aug. 4 June 30 Dec. 31 Aug. 4 June 30 Dec.

Composition of net asset value SEK billion SEK per share 2003 2003 2002 2003 2003 2002 Parent company Aug. 4 June 30 Dec. 31 Aug. 4 June 30 Dec. Interim Report January 1 - June 30, 2003 Industrivärden s net asset value was SEK 27,682 M on August 4, an increase of SEK 3,267 M since year-end 2002. On June 30 the net asset value was SEK 25,642 M (29,645).

More information

The Board of Directors proposes a dividend of SEK 7.00 per share (6.00), an increase of 17%.

The Board of Directors proposes a dividend of SEK 7.00 per share (6.00), an increase of 17%. Year-End Report 2005 Industrivärden s net asset value was SEK 50,596 M on February 14, 2006, an increase of SEK 2,344 M for the year to date. Net asset value on December 31, 2005, was SEK 48,252 M (36,563),

More information

Interim report. January 1 September 30, 2012

Interim report. January 1 September 30, 2012 Interim report January 1 September 30, 2012 Net asset value on September 30, 2012, was SEK 121 per share, an increase of 21% since the start of the year including reinvested dividends. The value of the

More information

a n n u a l r e p o r t 2 0 0 8

a n n u a l r e p o r t 2 0 0 8 a n n u a l r e p o r t 2 0 0 8 industrivärden Long-term industrial developer of listed Nordic companies Contents Industrivärden at a glance 1 Highlights 2008 2 CEO s message PRESENTING INDUSTRIVÄRDEN

More information

Average annual change, % Change, % Five years, Ten years Jan. 1-Aug.2 Aug. 00-Aug. 05 Aug. 95-Aug. 05

Average annual change, % Change, % Five years, Ten years Jan. 1-Aug.2 Aug. 00-Aug. 05 Aug. 95-Aug. 05 Interim Report January 1 June 30, 2005 Industrivärden s net asset value was SEK 41,171 M on August 2, 2005, compared with SEK 36,563 M at the start of the year, entailing an increase of SEK 4,608 M for

More information

January 1 March 31, 2015

January 1 March 31, 2015 Interim Report January 1 March 31, 2015 Long-term investor and active owner in internationally active Nordic quality companies www.industrivarden.net > The total return for the first quarter was 19% for

More information

annual report 2007 industrivärden

annual report 2007 industrivärden annual report 2007 industrivärden Long-term industrial developer of listed Nordic companies Contents Industrivärden at a Glance 1 Highlights 2007 2 CEO s Message Presenting Industrivärden 5 Goal and Goal

More information

industrivärden annual report 2004

industrivärden annual report 2004 industrivärden annual report 2004 Contents 1 Highlights 2004 2 CEO s Message 5 Presenting Industrivärden 6 Industrivärden at a Glance 7 Goals and Goal Achievement 8 Net Asset Value 10 Industrivärden Share

More information

Interim report for the period April 1 December 31, 2001 (9 months)

Interim report for the period April 1 December 31, 2001 (9 months) Addtech Group Interim report for the period April 1 December 31, (9 months) Net revenues amounted to MSEK 1 793 (1 784). Operating income, not including items affecting comparability, amounted to MSEK

More information

Quarterly Report January March 2011

Quarterly Report January March 2011 Q1 Quarterly Report January March 2011 January March 2011 1 Operating income for the period of the Group was SEK 7,5 k. EBIT for the Group was SEK - 1 261,9 k. Earnings before tax for the Group was SEK

More information

Order bookings 48,719 55,565-12 12,835 14,845 Sales 48,331 56,492-14 13,166 17,076

Order bookings 48,719 55,565-12 12,835 14,845 Sales 48,331 56,492-14 13,166 17,076 28 January, 2002 SCANIA YEAR-END REPORT JANUARY - DECEMBER 2001 After the unsatisfactory 2001, our measures to adjust production to lower global demand, structural changes related to cab production and

More information

Net asset value at year-end was SEK 598 (455) per share and CPN, entailing an increase of 31 percent (37) from the beginning of the year.

Net asset value at year-end was SEK 598 (455) per share and CPN, entailing an increase of 31 percent (37) from the beginning of the year. 1997 Highlights The value of the portfolio of listed stocks on December 31, 1997, was SEK 28,682 M (17,752). Adjusted for purchases and sales, the portfolio s value rose 30 percent (36) from the beginning

More information

Press Release from Securitas AB. Securitas to list three new specialized security companies on the Stockholm Stock Exchange

Press Release from Securitas AB. Securitas to list three new specialized security companies on the Stockholm Stock Exchange Press Release from Securitas AB The Board of Securitas AB proposes: February 9, 2006 Securitas to list three new specialized security companies on the Stockholm Stock Exchange Securitas AB, a world leader

More information

PRESIDENT AND CEO ERIK STRAND S COMMENTS ON POOLIA S THIRD QUARTER. Press information, November 5

PRESIDENT AND CEO ERIK STRAND S COMMENTS ON POOLIA S THIRD QUARTER. Press information, November 5 PRESIDENT AND CEO ERIK STRAND S COMMENTS ON POOLIA S THIRD QUARTER Press information, November 5 Poolia AB Poolia halved its rate of losses compared with the year-earlier period. The improved operating

More information

FINANCIAL RESULTS FOR THE PERIOD 1 JANUARY 31 MARCH 2003

FINANCIAL RESULTS FOR THE PERIOD 1 JANUARY 31 MARCH 2003 FINANCIAL RESULTS FOR THE PERIOD 1 JANUARY 31 MARCH 2003 The consolidated income after financial items amounted to SEK 75.3 (3.3) million for the period, including capital gain of SEK 90.6 (30.8) million.

More information

Net profit/loss for the period, KSEK 38 228 19 283 5 455 9 774. Private equity fund investments, KSEK 461 248 359 840

Net profit/loss for the period, KSEK 38 228 19 283 5 455 9 774. Private equity fund investments, KSEK 461 248 359 840 Page 1 of 16 NAXS Nordic Access Buyout Fund AB (publ) Interim report January September 2012 Nine months 2012 Net profit/loss for the period amounted to KSEK 38,2 (19,3). Earnings per share amounted to

More information

INFORMATION REGARDING PROPOSED REDEMPTION OF SHARES IN BETSSON AB

INFORMATION REGARDING PROPOSED REDEMPTION OF SHARES IN BETSSON AB 2015 INFORMATION REGARDING PROPOSED REDEMPTION OF SHARES IN BETSSON AB Betsson AB s core business consists of investing and administering shareholding in companies, which through partners or by themselves,

More information

Welcome to Annual General Meeting 2013/14. 17 December 2014 IDA Mødecenter

Welcome to Annual General Meeting 2013/14. 17 December 2014 IDA Mødecenter Welcome to Annual General Meeting 2013/14 17 December 2014 IDA Mødecenter Agenda 1. Management s review 2. Annual report and consolidated financial statements 3. Appropriation of the net profit for the

More information

A strong third quarter

A strong third quarter A strong third quarter Interim presentation for the third quarter 2015 Stockholm, 5 November 2015 Anders Nissen, CEO Liia Nõu, CFO Today s agenda Introduction Financial review Business model and value

More information

Full year report January December 2015

Full year report January December 2015 Full year report January December 215 Telephone conference February 12, 216 Thomas Berglund, CEO Olof Bengtsson, CFO Continued improvements in Capio Nordic and Germany France almost compensated for the

More information

Interim Report January 1 September 30, 2007

Interim Report January 1 September 30, 2007 Press Release, October 24, 2007 Interim Report January 1 September 30, 2007 Third Quarter Net sales increased by 9 percent to SEK 183.8 (168.6) million. Currency-adjusted growth was 11 percent. Software

More information

Investment AB Kinnevik

Investment AB Kinnevik Investment AB Kinnevik Skeppsbron 18 P.O. Box 2094 SE-103 13 Stockholm Sweden www.kinnevik.se (Publ) Reg no 556047-9742 Phone +46 8 562 000 00 Fax +46 8 20 37 74 INTERIM REPORT 1 JANUARY-31 MARCH Highlights

More information

Full Year Report 2005. 26 January 2006

Full Year Report 2005. 26 January 2006 Full Year Report 2005 26 January 2006 Important Notice This Presentation has been produced by TradeDoubler AB (the Company ) and is furnished to you solely for your information. This document contains

More information

Investor Growth Capital Stephen Campe

Investor Growth Capital Stephen Campe Investor Growth Capital Stephen Campe Head of Investor Growth Capital Agenda 1. Rationale for Investor Growth Capital and strategy 2. Business overview and setup 3. Our value creation model 4. The portfolio

More information

A Leading Global Health Care Group

A Leading Global Health Care Group A Leading Global Health Care Group Commerzbank German Investment Seminar January 11/12, 2016 For detailed financial information please see our annual/quarterly reports and/or conference call materials

More information

TrustBuddy AB (publ.)

TrustBuddy AB (publ.) Interim report first quarter 2015 The Board of TrustBuddy AB (publ.), listed on NASDAQ First North, leaving the following quarterly report for January March 2015 TrustBuddy AB (publ.) First quarter in

More information

INFORMATION FOR SHAREHOLDERS. Ordinary shares

INFORMATION FOR SHAREHOLDERS. Ordinary shares INFORMATION FOR SHAREHOLDERS Ordinary shares The Group s share capital is divided into 5,993,227,24 shares with a nominal value of RUB 1 each. NLMK s shares are traded on the MICEX and RTS trading platforms

More information

Sweco acquires Grontmij. Creating the leading European engineering consultancy

Sweco acquires Grontmij. Creating the leading European engineering consultancy Sweco acquires Grontmij Creating the leading European engineering consultancy 1 Sweco will make a recommended public offer to buy all shares in Grontmij. In other words: Sweco and Grontmij will combine

More information

A Word from the CEO JANUARY - MARCH 2010

A Word from the CEO JANUARY - MARCH 2010 Interim Report for the Period January-March 2010 JANUARY - MARCH 2010 Sales SEK 132.6 (152.1) million Operating profit EBITDA SEK 9.9 (10.3) million Operating margin EBITDA 7.5 (6.8) % Operating profit

More information

Year-end Report January-December 2015

Year-end Report January-December 2015 Year-end Report January-December 20 Johan Dennelind, President & CEO Q4 20 high pace towards the new TeliaSonera Started to reduce presence in region Eurasia Continued business transformation Solid development

More information

2014 Asia Securities Forum Presented by the Korea Financial Investment Association

2014 Asia Securities Forum Presented by the Korea Financial Investment Association 2014 Asia Securities Forum Presented by the K O R E A I. Korean Capital Market I. Current Status II. Prospects II. Korean Financial Investment Industry C O N T E N T S III. Capital Market Regulations 2

More information

Interim report April-June 2003

Interim report April-June 2003 Interim report April-June 2003 Pre-tax profit for the second quarter amounted to SEK -34m, which is a SEK 30m improvement compared to last year (SEK -64m). Software revenue grew by 5% during the second

More information

Kungsleden AB (publ) Chief Executive Thomas Erséus Deputy Chief Executive Johan Risberg. 20 February 2009

Kungsleden AB (publ) Chief Executive Thomas Erséus Deputy Chief Executive Johan Risberg. 20 February 2009 Kungsleden AB (publ) Chief Executive Thomas Erséus Deputy Chief Executive Johan Risberg 20 February 2009 Kungsleden in brief Kungsleden owns and manages properties generating high and stable long-term

More information

SHARE INFORMATION SHARE TREND, THE STOCKHOLM STOCK EXCHANGE, 2003 2005 30 SHARE TURNOVER 2005 (MILLION SHARES) 6,000. London NASDAQ Stockholm 5,000

SHARE INFORMATION SHARE TREND, THE STOCKHOLM STOCK EXCHANGE, 2003 2005 30 SHARE TURNOVER 2005 (MILLION SHARES) 6,000. London NASDAQ Stockholm 5,000 SHARE INFORMATION STOCK EXCHANGE TRADING Ericsson s Class A and Class B shares are traded on the Stockholm Stock Exchange (Stockholmsbörsen) and the Class B shares are also traded on the London Stock Exchange.

More information

FINANCIAL RESULTS Q1 2012. 16 May 2012

FINANCIAL RESULTS Q1 2012. 16 May 2012 FINANCIAL RESULTS Q1 2012 16 May 2012 Highlights Q1 2012 Satisfactory Q1 financials underlying EBITDA and profit before tax on a par with Q1 2011 - Lower power prices partly offset by increased power generation

More information

Interim Report. Interim Report. 1 January 30 June 2005

Interim Report. Interim Report. 1 January 30 June 2005 Interim Report SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ) Communications and Investor Relations Box 7827, 103 97 Stockholm, Sweden Tel +46 8 788 51 00, Fax +46 8 660 74 30 www.sca.com Reg.No. 556012-6293

More information

Interim Report January 1 st March 31 st, 2003

Interim Report January 1 st March 31 st, 2003 Interim Report January 1 st March 31 st, 2003 First Quarter 2003 Earnings before taxes increased by 23 per cent to 70 MSEK. Earnings after taxes increased by 36 per cent to 45 MSEK. Earnings per share

More information

AXA INVESTMENT MANAGERS

AXA INVESTMENT MANAGERS AXA INVESTMENT MANAGERS Entering a new phase of growth Investor Day November 20, 2014 Andrea ROSSI CEO AXA Investment Managers Member of the AXA Group Executive Committee Certain statements contained herein

More information

Skandinaviska Enskilda Banken AB (SEB A) - Financial and Strategic SWOT Analysis Review

Skandinaviska Enskilda Banken AB (SEB A) - Financial and Strategic SWOT Analysis Review Brochure More information from http://www.researchandmarkets.com/reports/2623291/ Skandinaviska Enskilda Banken AB (SEB A) - Financial and Strategic SWOT Analysis Review Description: Skandinaviska Enskilda

More information

Year-end Report 2011 CLAES-GÖRAN SYLVÉN, CEO GÖRAN BLOMBERG, CFO

Year-end Report 2011 CLAES-GÖRAN SYLVÉN, CEO GÖRAN BLOMBERG, CFO Year-end Report 2011 CLAES-GÖRAN SYLVÉN, CEO GÖRAN BLOMBERG, CFO Hakon Invest Financial information Summary Year-end Report 2011 Operating profit (EBITA) rose to SEK 281 M (-43) in Q4 Tighter corporate

More information

Interim Report for the period 1 January 31 March 2015

Interim Report for the period 1 January 31 March 2015 Interim Report for the period 1 January 31 March 2015 ALL FIGURES IN THIS REPORT ARE EXPRESSED IN SEK, UNLESS STATED OTHERWISE. FIGURES IN PARENTHESES REFER TO THE CORRESPONDING FIGURES FOR THE PREVIOUS

More information

Apotek Hjärtat building the leading pharmacy offering in Sweden. Anders Nyberg CEO Apotek Hjärtat

Apotek Hjärtat building the leading pharmacy offering in Sweden. Anders Nyberg CEO Apotek Hjärtat Apotek Hjärtat building the leading pharmacy offering in Sweden Anders Nyberg CEO Apotek Hjärtat 35 Bn SEK Swedish pharmacy market Market split 2014 Sample products Pricing model Channel presence SEK bn

More information

F-Secure Corporation - Interim report Q3 2011

F-Secure Corporation - Interim report Q3 2011 F-Secure Corporation - Interim report Q3 2011 (Unaudited) October 26, 2011 Kimmo Alkio, President & CEO Protecting the irreplaceable f-secure.com Q3 highlights Good financial performance Total revenues

More information

CEO s address to Nolato s 2011 Annual General Meeting

CEO s address to Nolato s 2011 Annual General Meeting CEO s address to Nolato s 2011 Annual General Meeting Dear shareholders, ladies and gentlemen. The dip in our telecommunications operations at the beginning of 2011 which I will return to later does not

More information

QUALITY THROUGH SPECIALISATION GLOBAL HEALTH PARTNER Q1 REPORT APRIL 26, 2010

QUALITY THROUGH SPECIALISATION GLOBAL HEALTH PARTNER Q1 REPORT APRIL 26, 2010 QUALITY THROUGH SPECIALISATION GLOBAL HEALTH PARTNER Q1 REPORT APRIL 26, 2010 Background A fast growing health care company with a unique business model Specialized clinics, today 17, within specific areas

More information

NASDAQ OMX MAXIMUM ACCESS AND VISIBILITY TOWARDS GLOBAL AND LOCAL INVESTORS

NASDAQ OMX MAXIMUM ACCESS AND VISIBILITY TOWARDS GLOBAL AND LOCAL INVESTORS MAXIMUM ACCESS AND VISIBILITY TOWARDS GLOBAL AND LOCAL INVESTORS JOIN THE WORLD S MOST RECOGNIZED BRANDS Listed Companies 2 OUR GLOBAL LISTINGS BUSINESS 8 LISTING OPPORTUNITIES U.S. NORDICS BALTICS LISTINGS

More information

Year-end report. President s comments. The fourth quarter. January - December

Year-end report. President s comments. The fourth quarter. January - December Year-end report The fourth quarter > > Net sales increased by 17 percent during the fourth quarter to SEK 1,758 M (1,504). In local currencies, net sales increased by 7 percent > > Operating profit increased

More information

Capio intends to be listed on the Nasdaq Stockholm Stock Exchange

Capio intends to be listed on the Nasdaq Stockholm Stock Exchange NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR PUBLICATION IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, NEW ZEALAND, SOUTH AFRICA, HONG KONG, SINGAPORE

More information

A Leading Global Health Care Group

A Leading Global Health Care Group A Leading Global Health Care Group JP Morgan Milan Investor Forum October 1, 2015 For detailed financial information please see our annual/quarterly reports and/or conference call materials on www.fresenius.com/ir.

More information

Ordinary Shares Presenter Date

Ordinary Shares Presenter Date 1 Ordinary Shares Presenter Date Contents What is a share? What is an ordinary shares? What are dividends? What is the share price? The benefits of ordinary shares Some things to consider when investing

More information

Year-end report 2013. February 12, 2014. Per Strömberg, CEO Merlin Poljak, Acting CFO

Year-end report 2013. February 12, 2014. Per Strömberg, CEO Merlin Poljak, Acting CFO Year-end report 213 February 12, 214 Per Strömberg, CEO Merlin Poljak, Acting CFO Strategic priorities have effect Continued positive development in Q4 Net sales up 1.5%* EBIT excluding non-recurring items

More information

The Orkla Group Preliminary results 1999 10 February 2000

The Orkla Group Preliminary results 1999 10 February 2000 The Orkla Group Preliminary results 1999 10 February 2000 1 Orkla 1999 - Highlights Substantial value increase for investment portfolio Profit improvement for Nordic food and beverages Continued strong

More information

Year-end Report 2015. 400 Fairview, Seattle, U.S.

Year-end Report 2015. 400 Fairview, Seattle, U.S. Year-end Report 400 Fairview, Seattle, U.S. Year-end Report Strong result on a group level Improved profitability Strong performance in Project Development Strong cash flow and financial position Operating

More information

A LEADING GLOBAL HEALTH CARE GROUP. Frankfurt Stock Exchange (DAX30): FRE US ADR program (OTC): FSNUY wwww.fresenius.com/investors

A LEADING GLOBAL HEALTH CARE GROUP. Frankfurt Stock Exchange (DAX30): FRE US ADR program (OTC): FSNUY wwww.fresenius.com/investors A LEADING GLOBAL HEALTH CARE GROUP Frankfurt Stock Exchange (DAX30): FRE US ADR program (OTC): FSNUY wwww.fresenius.com/investors SAFE HARBOR STATEMENT This presentation contains forward-looking statements

More information

Interim Report First Quarter 2011 Stockholm April 20, 2011

Interim Report First Quarter 2011 Stockholm April 20, 2011 Interim Report First Quarter 2011 Stockholm April 20, 2011 Summary of Q1 2011 Good volume growth, revenues up 10% and 17% adjusted for currency Negative impact from FX and full effect of price cuts in

More information

Interim Report January June 2003

Interim Report January June 2003 Interim Report January June 2003 Investor s net asset value on June 30, 2003 amounted to SEK 68,701 m. (SEK 90 per share), compared with SEK 62,869 m. (SEK 82 per share) on December 31, 2002, an increase

More information

INTERIM REPORT JANUARY 1 SEPTEMBER 30, 2011

INTERIM REPORT JANUARY 1 SEPTEMBER 30, 2011 Q3 INTERIM REPORT JANUARY 1 SEPTEMBER 30, 2011 Helsinki, October 27, 2011 Fiskars Corporation Interim Report January 1 - September 30, 2011 October 27, 2011 Third quarter: Net sales and operating profit

More information

Orc Software AB Interim report January 1 March 31, 2005

Orc Software AB Interim report January 1 March 31, 2005 Orc Software AB Interim report January 1 March 31, 2005 Revenue for January-March 2005 increased by 2 percent compared to the equivalent period in the previous year and amounted to SEK 66 (65) million.

More information

TLG IMMOBILIEN AG H1 2015 Results August 2015

TLG IMMOBILIEN AG H1 2015 Results August 2015 TLG IMMOBILIEN AG H1 2015 Results August 2015 Disclaimer This presentation includes statements, estimates, opinions and projections with respect to anticipated future performance of TLG IMMOBILIEN ("Forward-Looking

More information

Year-end report 2006 Prevas AB (publ), corporate reg. no. 556252-1384

Year-end report 2006 Prevas AB (publ), corporate reg. no. 556252-1384 Year-end report 2006 Prevas AB (publ), corporate reg. no. 556252-1384 Continued successful growth order intake increased by 69 percent in the fourth quarter SUMMARY (MSEK) 2006 2005 Q4 2006 Q4 2005 Net

More information

Net sales increased with 16% to SEK 76.1 m (65.6). Net sales for the last four quarters totalled SEK 255.0 m (306.6)

Net sales increased with 16% to SEK 76.1 m (65.6). Net sales for the last four quarters totalled SEK 255.0 m (306.6) HMS Networks AB (publ) Interim report January-March 2010 First quarter 2010 Net sales increased with 16% to SEK 76.1 m (65.6). Net sales for the last four quarters totalled SEK 255.0 m (306.6) Operating

More information

Corporate governance report Sandvik 2006

Corporate governance report Sandvik 2006 Corporate governance report Sandvik 2006 Effective and transparent corporate governance enhances the confidence of Sandvik s stakeholders and also heightens focus on business value and shareholders value.

More information

NASDAQ OMX LISTING OPPORTUNITIES ON

NASDAQ OMX LISTING OPPORTUNITIES ON LISTING OPPORTUNITIES ON 2 EXECUTIVE SUMMARY: BENEFITS OF BEING LISTED ON Increased visibility and brand awareness Listed companies gain the attention from investors, analysts, media and potential employees

More information

Vattenfall three-month Interim Report 2002 January - March

Vattenfall three-month Interim Report 2002 January - March 1 Vattenfall three-month Interim Report 2002 January - March Presentations by Lars G Josefsson, CEO and Matts Ekman, CFO May 15, 2002 2 Highlights Net sales more than doubled to SEK 28.4 billion Return

More information

Sandvik Annual Report 2010

Sandvik Annual Report 2010 Sandvik Annual Report 2010 Content Year in brief 1 This is Sandvik 2 Letter from the President and CEO 4 Business concept, goals and strategies 6 Aquisition strategy 8 The Sandvik share 10 Report of the

More information

A Leading Global Health Care Group

A Leading Global Health Care Group A Leading Global Health Care Group HSBC Healthcare Day, November 12, 2014 For detailed financial information please see our annual/quarterly reports and/or conference call materials on www.fresenius.com/ir.

More information

Infrastructure Development 2012

Infrastructure Development 2012 Infrastructure Development 2012 Skanska Infrastructure Development 2012 1 Contents Skanska s operations and markets...3 Distribution of estimated gross present value...4 Project Life Cycle...4 Project

More information

Master s Thesis in Finance Stockholm School of Economics. Capital Insurances. Jonatan Falk 19473

Master s Thesis in Finance Stockholm School of Economics. Capital Insurances. Jonatan Falk 19473 Master s Thesis in Finance Stockholm School of Economics Capital Insurances Jonatan Falk 19473 Abstract Most people strive to get as high return as possible on their investments and individuals wants to

More information

Highlights of 1H FY2015 Results. November 18, 2015

Highlights of 1H FY2015 Results. November 18, 2015 Highlights of 1H FY2015 Results November 18, 2015 Table of Contents 1. Trend of business results 3. Domestic life insurance Summary of 1H FY2015 results 3 Overview of 1H FY2015 results Himawari Life 27

More information

INTERIM REPORT JANUARY-JUNE 2014 CHRONTECH PHARMA

INTERIM REPORT JANUARY-JUNE 2014 CHRONTECH PHARMA ChronTech has developed and further develops a patent pending new type of injection needle for a more effective uptake of genetic vaccines (IVIN) and vaccine and therapy for hepatitis D. The ChronTech

More information

Interim report January - March 2015

Interim report January - March 2015 Interim report January - March 2015 April 22 th 2015 Lars Wollung, CEO Erik Forsberg, CFO Q1 Key highlights Strong financial performance EBIT excluding revaluations and fx-impact +12% Investment grade

More information

Howelliott.Com: Aussie Insurance Company

Howelliott.Com: Aussie Insurance Company Conference Call on Interim Report 3/2014 Hannover, 5 November 2014 Strong nine-month result Group net income increased by 10.3% Group Gross written premium: EUR 10,704 m. (+1.6%) Net premium earned: EUR

More information

Acorn Income Fund Ltd

Acorn Income Fund Ltd Acorn Fund Ltd Share : Ordinary Main Investment Country Investment Sector Speciality UK Smaller Companies & capital growth, investing primarily in smaller UK companies. Share price NAV Diluted Discount

More information

for Analysing Listed Private Equity Companies

for Analysing Listed Private Equity Companies 8 Steps for Analysing Listed Private Equity Companies Important Notice This document is for information only and does not constitute a recommendation or solicitation to subscribe or purchase any products.

More information

Q4 2015. Jason Clark CEO

Q4 2015. Jason Clark CEO Q4 Jason Clark CEO Strategic View Investment in Core Regions Acquire and/or scale specialist skill > Value Resolve problem countries Services Growth, maximise product sales Strengthen Functions & Governance

More information

Vertical Market Software

Vertical Market Software Vitec Software Group Vertical Market Software Lars Stenlund, VD Vitec Short Facts VITEC SHORT FACTS Software company with industry-specific solutions Founded in 1985 by Lars Stenlund and Olov Sandberg

More information

Active Portfolio Investors. Brown Bag Quarterly Lunch. June 2015

Active Portfolio Investors. Brown Bag Quarterly Lunch. June 2015 Active Portfolio Investors Brown Bag Quarterly Lunch June 2015 Who is API Capital? Performance A consistent approach to targeting long-term outperformance with managed risk. Product Factor based investing

More information

FINANCIAL RESULTS Q1 2016

FINANCIAL RESULTS Q1 2016 FINANCIAL RESULTS Q1 2016 CFO Hallvard Granheim 28 th April 2016 Highlights Q1 Increase in underlying results (EBITDA) - Nordic prices are down 15% Q-on-Q - High production from Nordic hydropower assets

More information

Consolidated Interim Report

Consolidated Interim Report Consolidated Interim Report as of 31 March 2015 UNIWHEELS AG CONTENTS 1. Key performance data 2. Condensed group management report as of 31 March 2015 3. Condensed consolidated financial statements as

More information

Tim Howkins, CEO. Steve Clutton, Finance Director

Tim Howkins, CEO. Steve Clutton, Finance Director Tim Howkins, CEO Steve Clutton, Finance Director Highlights Revenue Revenue up 36% Earnings per share up 33% All parts of business contributed to growth Benefits of increased IT spend Proposed final dividend

More information

INTERIM REPORT for the period January 1 June 30, 2006

INTERIM REPORT for the period January 1 June 30, 2006 ICA AB, corporate identity number 556582-1559 INTERIM REPORT for the period January 1 June 30, 2006 Strong development for ICA Group during first half year Stockholm, August 15, 2006 Net sales during the

More information

COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS*

COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS* COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) 2 Fixed Rates Variable Rates FIXED RATES OF THE PAST 25 YEARS AVERAGE RESIDENTIAL MORTGAGE LENDING RATE - 5 YEAR* (Per cent) Year Jan Feb Mar Apr May Jun

More information

COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS*

COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS* COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) 2 Fixed Rates Variable Rates FIXED RATES OF THE PAST 25 YEARS AVERAGE RESIDENTIAL MORTGAGE LENDING RATE - 5 YEAR* (Per cent) Year Jan Feb Mar Apr May Jun

More information

Presentation of financial results Q4 2013

Presentation of financial results Q4 2013 Presentation of financial results Q4 2013 Highlights 2013 Net Asset Value up by 11% to SEK 65.5 bln Mobile companies return to growth Zalando increased sales by 52% to EUR 1,762m SEK 2.4 bln invested in

More information

TELE2 AB ANNOUNCES SIGNIFICANT CUSTOMER INTAKE DRIVING STRONG OPERATING RESULTS FOR THE 12 MONTHS ENDED DECEMBER 31, 2000

TELE2 AB ANNOUNCES SIGNIFICANT CUSTOMER INTAKE DRIVING STRONG OPERATING RESULTS FOR THE 12 MONTHS ENDED DECEMBER 31, 2000 FOR IMMEDIATE RELEASE Tuesday, February 20, 2001 TELE2 AB ANNOUNCES SIGNIFICANT CUSTOMER INTAKE DRIVING STRONG OPERATING RESULTS FOR THE 12 MONTHS ENDED DECEMBER 31, 2000 53% Annualized increase in Group

More information

Fiskars Group Q4 and FY 2015. 1.1. 31.12.2015 Helsinki, February 9, 2016

Fiskars Group Q4 and FY 2015. 1.1. 31.12.2015 Helsinki, February 9, 2016 Fiskars Group and FY 1.1. 31.12. Helsinki, February 9, 216 Fiskars : Net Sales MEUR 332.8 +63% Comparable net sales (+2.9%) EBIT excl. NRI MEUR 16.8 +57% Cash flow from operating activities MEUR 61.5 +28%

More information

INTERIM REPORT, JANUARY-MARCH 2003 5 th May 2003

INTERIM REPORT, JANUARY-MARCH 2003 5 th May 2003 Boliden reports an improved profit after financial items. The profit totalled SEK 54 million for the first quarter of 2003, compared to SEK 17 million for the first quarter of 2002. The cash flow for the

More information

INTERIM REPORT, 1 January - 30 June 2003

INTERIM REPORT, 1 January - 30 June 2003 PRESS RELEASE, 9 July INTERIM REPORT, 1 January - 30 June In May, Medivir reached a licensing agreement on MIV-210 with GlaxoSmithKline; EUR 6 m was received upon signing and up to EUR 86 m on the achievement

More information

Information regarding share split and redemption of shares in AB Volvo 2007

Information regarding share split and redemption of shares in AB Volvo 2007 Information regarding share split and redemption of shares in AB Volvo 2007 The share split and redemption procedure in summary Table of contents 2 The share split and redemption procedure in summary 3

More information

Quest for Growth Results for Q3, January-March 2003

Quest for Growth Results for Q3, January-March 2003 Quest for Growth Results for Q3, January-March 2003 1 Jan Keuppens joins Quest Management Investment Manager Quoted Portfolio of Quest for Growth Former technology analyst with AXA Investment Managers,

More information

2015 Annual Meeting of Stockholders

2015 Annual Meeting of Stockholders 2015 Annual Meeting of Stockholders May 15, 2015 Independence Holding Company American Independence Corp. 1 What is The IHC Group? Two public companies (IHC and AMIC) collectively control: Three carriers

More information

Klöckner & Co SE A Leading Multi Metal Distributor

Klöckner & Co SE A Leading Multi Metal Distributor Klöckner & Co SE A Leading Multi Metal Distributor UBS Global Basic Materials Conference June 10, 2009 in London Gisbert Rühl CFO Agenda 1. Overview 2. Q1 results 2009 and market update 3. Financing and

More information