Kinnevik Results Presentation Deck
OUR NET CASH POSITION PROVIDES US FURTHER FINANCIAL STRENGTH AND
FLEXIBILITY TO CONTINUE TO EXECUTE OUR 2019-23 CAPITAL ALLOCATION PLAN
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Our Financial Position
Capital Structure and Financial Capabilities
During the first quarter of 2020, we net divested SEK 6.5bn, with SEK 165m
into existing businesses, SEK 235m into Cityblock, and SEK 6.9bn released
from primarily Zalando and Qliro Group
At the end of the second quarter of 2020, we held SEK 9.5bn in cash and
money market investments, up from SEK 3.8bn at March end
Net of SEK 4.0bn in commercial paper, bonds and unpaid
investments/divestments, we had a net cash position of SEK 5.5bn
corresponding to 6.6% of our portfolio value
In Q2, we received the first SEK 516m tranche of Tele2's ordinary dividend,
and will receive the second same-sized tranche in October
Tele2's extra dividend was temporarily postponed in April to maintain a
financial buffer until the company gains more clarity on the length and impact
of the coronavirus outbreak
Our share of the originally proposed extraordinary dividend amounts to SEK 657m
Our current financial position provides us with the financial strength and
flexibility to execute on our strategy, and complete our 2019-23
transformation provided we manage to continue to rotate capital within our
younger assets
As communicated in connection with our 2019 Year-End Release, we are
looking to deploy slightly less in 2020 than the 4.6 billion SEK we deployed
in 2019
9.5
Cash &
MMFs
(0.2)
CPs
Composition of Net Cash / (Debt)
By Source, SEKbn and % of Portfolio Value
(1.0)
(1.4)
(1.5)
Bonds
(2020-08, 2022-03 & 2025-02)
0.1
Other
5.5
6.6%
Net Cash
11
(1.9)
3.6
4.3%
Extra Net Cash
Dividend (Pro Forma)
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