Financial results for the first quarter
· The market value of the Group's securities in Major Listed Holdings amounted to SEK 47,662 million on 31 March, an increase of SEK 6,534 million corresponding to 16% since 31 December 2009.
· Korsnäs' operating profit increased with 66% to SEK 199 million (120) and operating margin was SEK 9.2% (6.1%).
· The Group's total revenue increased with 9% and amounted to SEK 2,283 million (2,093).
· Net result after tax, including changes in fair value of financial assets, amounted to a profit of SEK 6,834 million (loss of 1,952) corresponding to a profit per share of SEK 24.62 (loss of 7.49).
"I am very satisfied with Kinnevik's portfolio performance in the first quarter. Our net asset value increased by 16% to SEK 52.1 billion and both Korsnäs and our Major Listed Holdings recorded sales growth. Kinnevik's financial position will be further strengthened by a proposed extra dividend from Millicom, and all of our holdings are well positioned to continue to gain market shares as the economic climate slowly improves" says Mia Brunell Livfors, CEO of Kinnevik.