Kinnevik AB’s Net Asset Hits USD8,3 Billion


Kinnevik AB, one of the major investors in Konga, Global Fashion Group and other tech startups has released its Q3 results across all its major investments.

The group’s net asset value is now estimated at SEK 74.5bn, approximately USD8,3 billion as at the end of the third quarter.

See below the summarised report released by the company:

Portfolio companies’ performance

  • Zalando’s preliminary numbers for the third quarter showed revenue growth of 16-18% with an EBIT margin of 1.0-3.0%
  • Millicom’s organic service revenues declined by 0.2% in the third quarter and the adjusted EBITDA margin amounted to 36%
  • Tele2 grew its third quarter revenues by 3% and delivered an EBITDA margin of 22%
  • MTG reported third quarter organic revenue growth of 7% and an EBIT margin before non-recurring items of 4%

Kinnevik investment activities

  • Total investments of SEK 742m in the third quarter, all into existing companies
  • Global Fashion Group closed its EUR 330m funding round, with Kinnevik investing EUR 161m in total whereof EUR 61m in the third quarter
  • Linio completed a EUR 50m funding round, with a Kinnevik participation of EUR 12m
  • Home24 completed a EUR 20m funding round, with Kinnevik investing EUR 2.8m

Kinnevik financial position

  • Net Asset Value of SEK 74.5bn (SEK 271 per share), up 15% or SEK 10.0bn in the quarter, driven by:
    • 15% or SEK 8.4bn increase in value of the listed investee companies, of which Zalando SEK 10.3bn
    • 16% or SEK 1.6bn increase in value of the unlisted investee companies, of which GFG SEK 1.5bn
  • Net debt position of SEK 0.4bn at the end of the quarter

Leave a Reply

Your email address will not be published.