Strong report from Kinnevik – Business Wire

The net profit was 5.354 billion SEK (4139), or equivalent 19.30 per share (15.02).

Investment company reported a net asset value per share as at the end of the second quarter was 315 crowns, compared with SEK 303 at the end of the first quarter.

It corresponds, given a weighted average price of Kinnevik’s class A and B shares on the 263 at June 30, a discount to NAV of 17 percent, against a discount of 5 percent on March 31 this year, when the net asset value was reported to be 303 per share and the price 288 SEK.

Kinnevik increases its forecast for net investments for the full year 2015 and now expects that they will amount to 1 , 0-1.5 billion. The previous forecast was net investments of 1.0 billion.

It says CEO Lorenzo Grabau in its comments on the report for the second quarter.

“During the quarter, our portfolio companies more than 4 billion SEK in new capital, and they are now better capitalized. Our financial position therefore remains strong and we are increasing our guidance for net investments in 2015, “he writes.

So far this year, Kinnevik’s net investments to 489 million SEK, after net investments of 318 million in the second quarter.

Kinnevik ended the quarter with net cash of SEK 0.5 billion (excluding cash in operating subsidiaries), or 0.1 billion adjusted for investment in Quikr and assuming full participation in the ongoing round of funding in the GFG.

Kinnevik’s five part-owned Zalandokloner in emerging markets, which are gathered in the Global Fashion Group, grew by between 36 and 225 percent in the first quarter, for the four of companies whose growth is reported. Companies reported operating losses. It is clear from Kinnevik’s interim report.

The highest growth in the Middle East based Namshi, 225 percent to the equivalent of 176 million Swedish kronor. Operating profit (EBITDA) amounted to the equivalent of minus 14 million. In 2014, the company grew by 215 percent.

The Indian Jabong growth slowed somewhat, from 136 percent in the full year 2014 to 36 percent in the first quarter. Operating profit was equivalent to minus SEK 153 million with today rupiekurs.

GFG’s aggregate net cash position amounted to EUR 132 million as of March 31, according to the report.