Financial results for the third quarter
· The market value of the Group's securities in Major Listed Holdings amounted to SEK 51,214 m on 30 September, an increase of SEK 4,400 m corresponding to 9% since 30 June 2010.
· Korsnäs' operating profit increased with 14% to SEK 368 m (322) and the operating margin was 18.2% (16.8%).
· The Group's total revenue increased to SEK 2,079 m (1,981).
· Net result after tax, including changes in fair value of financial assets, amounted to a profit of SEK 4,512 m (5,942) corresponding to a profit per share of SEK 16.27 (22.58).
Financial results for the first nine months of the year
· The market value of the Group's securities in Major Listed Holdings increased by SEK 12,771*m corresponding to 31%.
· Korsnäs' operating profit increased with 33% to SEK 810 m (609) and the operating margin was 13.1% (10.1%) including received conflict compensation.
· The Group's total revenue increased to SEK 6,442 m (6,266).
· Net result after tax, including changes in fair value of financial assets, amounted to a profit of SEK 13,177 m (11,639) corresponding to a profit per share of SEK 47.48 (44.51).
* Including dividends received.
"A stronger economic cycle is evident in all of Kinneviks portfolio companies and we see sales growth driven by a stronger demand. Kinneviks portfolio companies are driven by the ambition to be price leading and by offering the best deal and the margin development clearly demonstrates that cost efficiency remains a top priority. The companies also need to stay on-top of the rapidly changing technological environment which significantly changes customer behavior. Capturing these trends is also an important driver for investments in our New Ventures portfolio which remain a focus area going forward" says Mia Brunell Livfors, CEO of Kinnevik.