Kinnevik: Interim Report 1 January - 30 June 2015

7/22/2015, 8:00 AM (Source: GlobeNewswire)

Operating Companies' Performance

  • Communication: Millicom organic revenue growth of 9% in local currency (excluding UNE), Tele2 mobile end-user service revenue growth of 7%
  • Fashion e-commerce: Zalando's preliminary sales up 33-35% with an EBIT margin of 3-5%, Global Fashion Group confirms strong growth momentum
  • Rocket Internet continued to launch new business models, announced high growth and improving profitability in its "Proven Winners" companies

Kinnevik Investment Activity

  • Net investments during the second quarter SEK 318m (SEK 489m during the first half of 2015)
  • Investments focused on existing companies:

- Global Fashion Group EUR 41m (SEK 382m) with a maximum commitment of EUR 65m

- BIMA USD 16m (SEK 129m)

- Quikr USD 20m (SEK 170m) in secondary shares in July

  • Divestment of remaining 7.4% stake in Transcom for SEK 159m
  • Net investment guidance increased from SEK 1.0bln to 1.0-1.5bln for the full year 2015

Kinnevik Financial Position

  • Net asset value of SEK 87.3bln or SEK 315 per share, up 4% in the quarter
  • Strong balance sheet, net cash of SEK 0.5bln (excluding cash in operating subsidiaries and before investment in Quikr and further participation in Global Fashion Group's ongoing financing)



This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Kinnevik via Globenewswire

HUG#1940292
Copyright GlobeNewswire, Inc. 2016. All rights reserved.
You can register yourself on the website to receive press releases directly via e-mail to your own e-mail account.