Kinnevik Results Presentation Deck
WE HOLD A SIGNIFICANT CASH POSITION, HAVE REDUCED OUR 2020
MATURITIES, AND CONTINUE TO EXECUTE ON OUR CAPITAL ALLOCATION PLAN
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Our Financial Position
Capital Structure and Financial Capabilities
During the first quarter of 2020, we invested SEK 403m, whereof 329m into
our existing investees and a 74m commitment to Town Hall Ventures II
At the end of the first quarter of 2020, we held SEK 3.8bn in cash and money
market investments
Net of SEK 5.3bn in commercial paper, bonds and unpaid investments, our
net debt position amounted to SEK 1.5bn corresponding to 2.2% leverage
2020 bond maturities amounts to SEK 1.8bn
In February, we issued a SEK 1.5bn five-year bond in connection with which we
repurchased some SEK 0.6bn of our May 2020 bond
Our share of Tele2's proposed dividends amounts to SEK 1.0bn in ordinary
dividends and SEK 0.7bn in extra dividends
Per today, SEK 1.7bn covers our currently forecasted 2020 investments into
primary investee equity and other capital injections into our investees,
including our current assessment of potentially elevated funding needs due
to, and through, the coronavirus crisis
Investments will also be funded by tapping into our cash position or by
releasing capital from parts of our existing portfolio
As communicated in connection with our 2019 Year-End Release, we are
looking to deploy slightly less capital in 2020 than in 2019
3.8
Cash &
MMFs
(0.5)
CPs
Composition of Net Cash / (Debt)
By Source, SEKbn and % Leverage
(0.8)
(1.0)
(1.4)
Bonds
(2020-05, 2020-08, 2022-03 & 2025-02)
(1.5)
(0.1)
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Other
Our financial position is strong, and provides the foundation needed to execute on our five-year capital allocation plan
Naturally, we expect 2020 to be a year of focus on our existing portfolio relative to other years under this plan
2.2%
(1.5)
Net Cash
/ (Debt)
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