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Kinnevik : Investment AB Kinnevik interim report 1 January - 31 March 2013



  Kinnevik : Investment AB Kinnevik interim report 1 January - 31 March 2013

Highlights

·  On 27 March, Tele2 AB announced an agreement to sell their Russian
operations to VTB Group. The transaction closed on 4 April. Following the
divestment, the Board of Tele2 has proposed a share redemption program. As a
result, Kinnevik is expected to receive approximately SEK 3.8bln during the
second quarter.

·  As previously announced, financial investments are expected to be SEK
2-3bln in 2013. The parent company leverage after dividends, the redemption
programme in Tele2 and with the above assumptions regarding investments is
expected to be approximately SEK 2bln.

·  Kinnevik's sector split has been revised to better reflect our growth areas
and now comprise "Telecom & Financial services", "Online", "Media" and
"Industry and other investments".

Financial results for the first quarter

·  The net asset value decreased during the quarter by 3% to SEK 57,088m at
the end of March corresponding to SEK 206 per share.

·  The Group's total revenue amounted to
SEK 370m (102) and the net loss per share
was SEK 5.83 (profit of 10.05).

·  The assessed change in fair value of unlisted holdings amounted to a loss
of SEK 289m in the quarter, including a profit of SEK 127m relating to Avito
and a loss of SEK 431m relating to negative exchange rate effects when
translating investments in EUR to SEK. The valuation of Zalando is unchanged
in EUR, but due to exchange rate effects the fair value in SEK decreased by
SEK 276m.

·  New investments amounted to SEK 399m in the first quarter, of which SEK
384m within Online.

 

For further information, visit www.kinnevik.se or contact:

Torun Litzén, Director, Investor Relations Phone +46 (0)8 562 000 83
                                           Mobile +46 (0)70 762 00 83

Investment AB Kinnevik

Press release

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information contained therein.

Source: Kinnevik via Thomson Reuters ONE
HUG#1694373
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