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Investor presented its Q3 report last week.

Investor is Sweden’s most owned share, over half a million own the share today, which can be compared with the second placed Telia, where the number of owners is just over 460,000.

CEO Johan Forsell who has spent most of his working life in the company, presented the report, see the highlights below (reference Investor website).

Highlights during the third quarter

• Adjusted net asset value (NAV) amounted to SEK 760,319m (SEK 248 per share) on September 30, 2023, a decrease of SEK -12,741m, or -2 percent, during the quarter. Total shareholder return amounted to -3 percent, compared to -6 percent for the SIXRX return index.
• Listed Companies generated a total return of -3 percent. The remaining shares in Accelleron were divested for a total SEK 2.6bn, resulting in total divestment proceeds of SEK 3.6bn.
• Based on estimated market values, the total return for Patricia Industries, excluding cash, amounted to 0 percent (0 percent including cash). Earnings growth and cash flow contributed positively, offset by multiple contraction and negative currency impact.
• Within Patricia Industries, sales growth for the major subsidiaries amounted to 10 percent, of which 5 percent organically in constant currency. Reported EBITA grew 19 percent and adjusted EBITA grew 18 percent.
• Mölnlycke reported organic sales growth of 4 percent in constant currency, mainly driven by Wound Care growing at 8 percent. The EBITA margin improved slightly.
• The value change of Investments in EQT was 1 percent. Net cash flow to Investor amounted to SEK -1,127m.
• Leverage was 2.0 percent as of September 30, 2023 (1.5 percent as of December 31, 2022). Gross cash amounted to SEK 24,067m and the average maturity of Investor AB’s debt portfolio was 11.1 years on September 30, 2023.

Main news from the report is that Investor is dumping all its shares from ABB’s spin-off.  Investor’s net assets beat all other investment companies in Sweden, combined.

What you think about the Q3 report? do leave a comment. And stay tuned for more updates…