Kinnevik AB
STO:KINV B

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Kinnevik AB
STO:KINV B
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Price: 83.24 SEK -0.31% Market Closed
Market Cap: 23.1B SEK

Kinnevik AB
Investor Relations

Nestled in the heart of Sweden, Kinnevik AB stands as a testament to the evolution of investment firms, molding its journey over decades from a traditional holding company into a dynamic force in the world of modern investment. Founded in 1936 by the diligent and foresightful Stenbeck family, Kinnevik originally concentrated on Nordic industrial enterprises. As its story unfolded, the company embraced change, riding the ripples of the digital revolution. The firm's portfolio began to reflect a shift towards more innovative and high-growth sectors, focusing on technology, telecommunications, and e-commerce. Kinnevik is not just a passive investor; it actively fosters and nurtures its investments, sometimes taking significant ownership stakes and engaging in board-level decision-making to cultivate value creation.

The company's ability to generate wealth lies in its strategic approach to investment. By targeting sectors poised for disruption and growth, Kinnevik ensures its portfolio is teeming with potential. Its revenue model is primarily based on capital appreciation—recognizing the value growth of its investments over time—and the occasional strategic divestment. This involves a careful curation of its holdings, aligning them with prevailing economic trends and future outlooks. Kinnevik excels in identifying and steering startups on successful trajectories, often reaping sizable rewards when these businesses reach maturity. Moreover, Kinnevik's savvy in reallocating capital from matured, slower-growth investments to those fledgling companies brimming with future promise creates a cycle of sustained revenue generation. Through this strategic orchestration, Kinnevik not only retains its edge as a key player in global investment but also ensures a robust and forward-looking financial portfolio.

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KINV B
OMX Stockholm 30
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Last Earnings Call
Fiscal Period
Q1 2025
Call Date
Apr 24, 2025
AI Summary
Q1 2025

NAV Decline: Net asset value (NAV) fell 8% in SEK terms and 2% in constant currencies to SEK 36.2 billion, mainly due to currency headwinds and lower public market multiples.

Strong Cash Position: Kinnevik ended the quarter with SEK 10.5 billion in net cash, leaving it well positioned for future investments or share buybacks.

Portfolio Adjustments: The company divested three noncore financial services investments, releasing capital and continuing to concentrate the portfolio on higher conviction sectors.

Core Company Growth: Core portfolio companies grew revenues by over 40% on average and improved EBITDA margins by 5 percentage points, in line with expectations.

Transcarent Acquisition: Kinnevik participated in Transcarent’s $621 million acquisition of Accolade, with the resulting valuation of Transcarent nearly doubling in dollar terms, though still marked conservatively.

Macro Uncertainty: Management cautioned that ongoing global uncertainty could hurt valuations and performance, but stressed optimism for long-term value creation.

Board Changes: Cristina Stenbeck has been proposed as the new Chairman, rejoining the board, along with three other new proposed members.

Key Financials
Net Asset Value
SEK 36.2 billion
Net Asset Value per Share
SEK 131
Net Cash Position
SEK 10.5 billion
Portfolio Invested in Profitable or Funded to Breakeven Companies
85%
Investments Made in Quarter
SEK 0.8 billion
Divestment Proceeds from Financial Services Portfolio Transaction
EUR 65.5 million
Average Revenue Growth of Core Companies
over 40%
Average EBITDA Margin Improvement of Core Companies
5 percentage points
Mews Customer Base Growth (2024)
85% increase to 12,500 unique customers
Mews Revenue Growth (2024)
50% to over EUR 200 million
NAV Negative Currency Impact
SEK 2.2 billion
Transcarent Underlying Valuation Change
Almost 2x increase in dollar terms (20-30% below funding round valuation)
Other Earnings Calls

Management

Ms. Torun Litzen
Director of Corporate Communications
No Bio Available
Ms. Anna Stenberg
Chief People & Platform Officer
No Bio Available
Mr. Mathew Joseph CPA
Sustainability Director
No Bio Available
Mr. Akhil Chainwala
Investment Director and Venture & Growth Investor
No Bio Available
Mr. Magnus Jakobson
Capital Markets Director
No Bio Available
Ms. Natalie Tydeman
Senior Investment Director
No Bio Available
Mr. Ola Nordbye
Investment Director
No Bio Available
Ms. Jessica Pedroni Thorell
Investment Manager
No Bio Available

Contacts

Address
STOCKHOLM
Stockholm
Skeppsbron 18
Contacts
+46856200000.0
www.kinnevik.com