Kinnevik: Year-End Release 2016
(Thomson Reuters ONE) -
Operating companies' performance
* Zalando had preliminary fourth quarter revenue growth of 25-26% and an EBIT
margin of 7.5-9.5%. For the full year, Zalando delivered preliminary revenue
growth of 23% and an EBIT margin of 5.6-6.2%, in line with guidance
* Millicom's largest market Latin America reported cable and mobile data
revenue growth of 6% and 17% respectively during the fourth quarter, and the
adjusted EBITDA margin amounted to 36% for the group. Organic service
revenues grew 1.2% for the full year 2016, with an adjusted EBITDA margin of
36%
* Tele2 grew fourth quarter revenues by 18% and achieved an EBITDA margin of
18% for the fourth quarter and 19% for the full year. Revenue growth for the
full year amounted to 5%
* MTG reported an organic revenue growth of 8% and an EBIT margin of 11% for
the fourth quarter. For the full year, MTG had organic revenue growth of 5%
and an EBIT margin of 8%
Investment management activites
* Kinnevik made investments of SEK 971m in the fourth quarter of 2016, whereof
SEK 898m in Tele2's SEK 3bn rights issue financing the acquisition of TDC
Sweden. Net investments amounted to SEK 872m in the quarter
* Full-year investments of SEK 3.4bn, focused primarily on investments in
existing companies. Net investments amounted to SEK 2.8bn
Financial position
* Net Asset Value of SEK 72.4bn (SEK 263 per share) per 31 December 2016
* Down SEK 2bn, or 3%, since last quarter-end, driven by a SEK 1.9bn, or
3%, decrease in the value of the listed investee companies
* Down SEK 11bn, or 13%, for the full year 2016, whereof SEK 7.1bn was
distributed to shareholders
* Net debt position of SEK 1.4bn per 31 December 2016, corresponding to 2% of
portfolio value
Refined return and leverage targets
* Attractive returns: Kinnevik's objective is to generate a long term total
return to our shareholders in excess of our cost of capital. We aim to
deliver an annual total shareholder return of 12-15% over the business cycle
* Low leverage: Given the nature of Kinnevik's investments, our goal is to
carry low leverage, not exceeding 10% of portfolio value
2016 Dividend recommendation
* Kinnevik's Board of Directors recommends an ordinary dividend of SEK 8.00
per share for 2016, an increase of 3.2% from last year's ordinary dividend
(SEK 7.75 per share), equivalent to a dividend yield of 3.7%
* The Annual General Meeting will be held on 8 May 2017
This information is information that Kinnevik AB (publ) is obliged to make
public pursuant to the EU Market Abuse Regulation and the Securities Markets
Act. The information was submitted for publication, through the agency of the
contact person set out below, at 08.00 CET on 10 February 2017.
For further information, visit www.kinnevik.com or contact:
Torun Litzén, Director Investor Relations
Phone +46 (0)8 562 000 83
Mobile +46 (0)70 762 00 83
Kinnevik is an industry focused investment company with an entrepreneurial
spirit at its heart. Our purpose is to build the digital consumer businesses
that provide more and better choice. We do this by working in partnership with
talented founders and management teams to create, invest in and lead fast
growing businesses in developed and emerging markets. We believe in delivering
both shareholder and social value by building well governed companies that
contribute positively to society. Kinnevik was founded in 1936 by the Stenbeck,
Klingspor and von Horn families.
Year-End Release 2016:
http://hugin.info/1114/R/2077452/781597.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq 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
Unternehmensinformation / Kurzprofil:
Datum: 10.02.2017 - 08:00 Uhr
Sprache: Deutsch
News-ID 523361
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Kategorie:
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