Kinnevik Results Presentation Deck
IN THESE TURBULENT TIMES, KINNEVIK'S FINANCIAL POSITION REMAINS
STRONG AND OUR PORTFOLIO IS SHOWING RELATIVE RESILIENCY
Key Developments
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NAV 31 MARCH 2020
SEK 64.9BN
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CHANGE IN NAV Q/Q
(11)%
Consumer Services: Nordic online groceries have experienced a surge in
demand with record customer intake, operating at maximum capacity.
Fashion e-Commerce has suffered from lower sales growth resulting in
inventory write-downs, though showing relative resilience compared to
physical retailers. The crisis' effect on the travel industry has been severe, and
our companies are focusing on product development and continued
customer acquisition
Financial Services: Extreme market volatility has negatively impacted our
companies' short-term performance, but they have a loyal and engaged
customer base, and a steady inflow of deposits and engagement
Healthcare Services: Our digital health companies are working hard to service
their populations and clients, with restrictions on mobility increasing the
number of people seeking virtual medical care
TMT: Operating in a resilient sector providing connectivity at a time of social
distancing, Tele2 is well placed to provide its important services to its
customers
Investment Management Activities
Total investments of SEK 403m in the quarter, including:
SEK 150m in MatHem's funding round, bringing our ownership stake to 36%
SEK 106m in Budbee's funding round, bringing our ownership stake to 30%
SEK 74m in Town Hall Ventures' Fund II, an investment made in part to deepen
our strategic ties with the reputable earlier stage investment platform
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1-YEAR TSR
(10)%
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5-YEAR TSR
(1)%
Financial position
NAV of SEK 64.9bn (SEK 235 per share), down SEK 8.4bn or 11% in the
quarter with some overall currency tailwind
Net debt position of SEK 1.5bn, corresponding to a leverage of 2.2% of
Portfolio Value by quarter end
Kinnevik issued SEK 1.5bn in new bonds in the quarter
Organisation
Erika Söderberg Johnson joined Kinnevik as Chief Financial Officer on 6 April
Anna Stenberg will join Kinnevik as Chief People and Platform Officer in May
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