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    INVE A   SE0015811955

INVESTOR AB (PUBL)

(INVE A)
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Year-End Report 2021

01/21/2022 | 02:16am EDT

"Entering 2022, there is no lack of challenges and uncertainty. That said, regardless of how the global economy and equity markets develop, Investor stands strong. In our portfolio we have great companies with leading positions in attractive markets, led by top-quality people. We also have a strong financial position, enabling us to act on attractive opportunities that arise."
Johan Forssell, President & CEO of Investor

Highlights during the fourth quarter

  • Adjusted net asset value (NAV) amounted to SEK 760,962m (SEK 248 per share) on December 31, 2021, an increase of SEK 78,564m, or 12 percent, with dividend added back, during the quarter. Total shareholder return amounted to 21 percent, compared to 12 percent for the SIXRX return index. For 2021, adjusted NAV growth, with dividend added back, amounted to 41 percent and total shareholder return to 55 percent, compared to 39 percent for SIXRX.
  • Listed Companies generated a total return of 11 percent. The bid for Sobi, which Investor supported, was withdrawn. SEK 1bn was invested in Ericsson.
  • Based on estimated market values, the total return for Patricia Industries, excluding cash, amounted to -1 percent (-1 percent including cash).
  • Within Patricia Industries, organic sales growth for the major subsidiaries amounted to -10 percent in constant currency. Adjusted EBITA declined by 23 percent. Excluding Mölnlycke, combined organic sales growth for the major subsidiaries amounted to 8 percent in constant currency and adjusted EBITA grew by 24 percent.
  • Mölnlycke reported organic sales growth of -26 percent in constant currency. Year-over-year growth was significantly distorted by the strong contribution from covid-19-related contract sales of Personal Protective Equipment during the fourth quarter 2020, while the contribution this quarter was zero. Gloves sales were negatively impacted by a temporary, covid-19-related, production halt. Wound Care grew 8 percent organically in constant currency, with strong profitability.
  • The value of Investments in EQT increased by 30 percent. Net cash flow to Investor amounted to SEK 1.8bn.
  • Leverage was 1.9 percent as of December 31, 2021 (3.5 as of December 31, 2020). Gross cash amounted to SEK 23,955m and the average maturity of Investor AB's debt portfolio was 10.8 years on December 31, 2021.
  • The Board of Directors proposes a dividend per share of SEK 4.00 (3.50) to be paid in two installments, SEK 3.00 in May, 2022 and SEK 1.00 in November, 2022.

This disclosure contains information that Investor is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 21-01-202208:15 CET.

For further information:

Viveka Hirdman-Ryrberg, Head of Corporate Communication and Sustainability, 
Phone +46 70 550 3500
viveka.hirdman-ryrberg@investorab.com

Magnus Dalhammar, Head of Investor Relations, 
Phone +46 73 524 2130
magnus.dalhammar@investorab.com

This information is information that Investor AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8:15 CET on January 21, 2022.

Our press releases can be accessed at www.investorab.com

Investor, founded by the Wallenberg family in 1916, is an engaged owner of high quality global companies. We have a long-term investment perspective. Through board participation, as well as industrial experience, our network and financial strength, we work continuously to support our companies to remain or become best-in-class. Our holdings include, among others, ABB, Atlas Copco, Ericsson, Mölnlycke and SEB.

https://news.cision.com/investor/r/year-end-report-2021,c3489866

https://mb.cision.com/Main/1084/3489866/1523257.pdf

(c) 2022 Cision. All rights reserved., source Press Releases - English

Stocks mentioned in the article
ChangeLast1st jan.
ERICSSON -0.01% 77.62 Delayed Quote.-22.22%
INVESTOR AB (PUBL) 1.69% 192.7 Delayed Quote.-19.24%
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Analyst Recommendations on INVESTOR AB (PUBL)
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Financials
Sales 2022 43 589 M 4 375 M 4 375 M
Net income 2022 56 880 M 5 709 M 5 709 M
Net Debt 2022 10 257 M 1 030 M 1 030 M
P/E ratio 2022 -
Yield 2022 2,08%
Capitalization 558 B 56 003 M 56 003 M
EV / Sales 2022 13,0x
EV / Sales 2023 12,5x
Nbr of Employees 17 118
Free-Float 79,8%
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Mean consensus OUTPERFORM
Number of Analysts 2
Last Close Price 192,70
Average target price
Spread / Average Target -
Managers and Directors
Johan Patrik Lennart Forssell President, Chief Executive Officer & Director
Helena Ildiko Saxon Vice President
Jacob Wallenberg Chief Financial Officer, Director & EVP
Petra Hedengran General Counsel & Head-Compliance
Grace Reksten Skaugen Independent Director
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