Kinnevik reports net debt of SEK0.9 billion for Q3

Kinnevik, Swedish tech investor and major owners of Nigeria’s Konga said its net debt rose to SEK0.9 billion.

  • Zalando showed continued healthy growth and announced the launch of a beauty category in the spring of 2018
    Preliminary revenue growth of 27.5-29.5% and an EBIT margin of between -0.5 and 0.5%
  • GFG reported solid sales growth and halved losses, progressing on its path to profitability
    Revenue growth of 16% and an adjusted EBITDA margin of -4%
  • Millicom returned to positive revenue growth driven by accelerated deployment of high-speed data networks
    Organic service revenue growth of 1.7% and an EBITDA margin of 37%
  • Tele2 showed good momentum driven by strong uptake of their new mobile offerings
    Revenue growth of 1% on a like for like basis and an EBITDA margin of 25%
  • Com Hem intends to propose a 50% increase of the cash dividend on the back of a solid growth trajectory
    Organic revenue growth of 4% and an organic underlying EBITDA margin of 50%
  • MTG reported strong growth driven by all four business segments, and continued its digital investments
    Organic revenue growth of 7% and an EBIT margin of 6%


  • Total investments of SEK 569m whereof SEK 527m (USD 65m) into Betterment, increasing Kinnevik’s shareholding to 16%
  • Total divestments of SEK 104m attributable in full to Glossybox
  • Dividend of SEK 350m received from Black Earth Farming following completion of asset sale


  • Net Asset Value of SEK 85.7bn (SEK 311 per share), up SEK 3.8bn or 5% during the quarter, led by a SEK 1.8bn increase in Zalando and a SEK 1.5bn increase in Millicom
  • Net debt position of SEK 0.9bn at the end of the quarter


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