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Kinnevik: Interim Report 2007 1 January - 31 March

4/26/2007 8:34 AM

  • The market value of the Group's holdings of listed securities increased during the first quarter by 16%, corresponding to SEK 5,961 million. On 31 March 2007, the market value of the listed share portfolio was SEK 43,162 million.
  • Korsnäs Industrial's revenues amounted to SEK 1,715 million, an increase by 8% compared to SEK 1,590 million pro forma including Frövi for the the first quarter last year.
  • Operating profit for Korsnäs Industrial amounted to SEK 214 million compared to SEK 235 million pro forma for the first quarter 2006.
  • The Group's total revenue amounted to SEK 1,957 million (1,245) and operating profit for the first quarter was SEK 290 million (140).
  • Profit after tax, including fair-value changes of financial assets, amounted to SEK 6,107 million (7,353).
  • The profit per share was SEK 23.13 (27.88).
  • Kinnevik has earlier today announced that it has entered into an agreement with a wholly owned Swedish subsidiary to the Icelandic investment company Milestone ehf. ("Milestone") to sell all its shares in Invik & Co. AB (publ) ("Invik") for a total consideration of SEK 1,088,843,230, corresponding to SEK 253 for each class A share and SEK 230 for each class B share. The sale is conditional on Milestone obtaining approvals from the relevant financial supervisory authorities. Kinnevik's agreement with Milestone includes that Milestone already today announces a voluntary offer for all outstanding shares and other financial instruments in Invik and hence all Invik's shareholders are offered to sell their shares at the same price as Kinnevik.
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    The full report with tables can be downloaded from the following link: