INDU C Industrivarden AB Class C

Bokslutsrapport 2021; 1 januari – 31 december 2021

Bokslutsrapport 2021; 1 januari – 31 december 2021

Bokslutsrapport 2021; 1 januari – 31 december 2021

  • Substansvärdet den 31 december 2021 var 143,5 mdkr, eller 332 kronor per aktie, en ökning under året med 53 kronor per aktie. Inklusive återinvesterad utdelning ökade substansvärdet med 22 %. Den 9 februari 2022 uppgick substansvärdet till 329 kronor per aktie.
  • Totalavkastningen uppgick under 2021 till 8 % för A-aktien och 10 % för C-aktien, jämfört med 39 % för Stockholmsbörsens totalavkastningsindex (SIXRX).
  • Resultat per aktie uppgick till 61,57 kronor.
  • Under 2021 förvärvades aktier för 2,5 mdkr i Sandvik, 0,8 mdkr i Volvo, 0,5 mdkr i Handelsbanken och 0,5 mdkr i Essity. Vidare avyttrades hela aktieinnehavet i SSAB för 2,0 mdkr.
  • Skuldsättningsgraden den 31 december 2021 var 4 %.
  • Under året erhölls en sakutdelning från Handelsbanken i form av Industrivärden A-aktier, vilka därefter drogs in efter beslut av en extra bolagsstämma.
  • Styrelsen föreslår en ordinarie utdelning om 6,75 (6,25) kronor per aktie.

Offentliggörande

Denna information är sådan som AB Industrivärden är skyldigt att offentliggöra enligt EU:s marknadsmissbruksförordning och lagen om värdepappersmarknaden. Informationen lämnades, genom kommunikations- och hållbarhetschefens försorg (Sverker Sivall, telefon: 08-666 64 19, e-post: ), för offentliggörande den 10 februari 2022, kl. 15:30 CET.

Bilaga



EN
10/02/2022

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INDU CIndustrivarden AB Class C

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LUND B L E LUNDBERGFORETAGEN AB CLASS B
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From the past week, we highlight: 1) we lowered our target price in Investor to SEK320 following a 9% write-down of Patricia Industries in its Q1 report; 2) we reduced our target price in Kinnevik to SEK100 to reflect macroeconomic headwinds, but remain positive ahead of Cristina Stenbeck’s return as chair; 3) we cut our VEF target price to SEK2.5 on FX movements and see re-rating potential from e.g. ongoing buybacks; and 4) we lowered our target price in Flerie to SEK57 given worsening funding ...

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KINV B KINNEVIK INVESTMENTS AB
INVE B INVESTOR AB
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From the past week, we highlight: 1) we are encouraged by the return of Cristina Stenbeck as chair of Kinnevik, and believe it could result in a lower discount to NAV; 2) VEF completed a milestone partial exit of Juspay at a 37% IRR, putting it on track to pay down debt and repurchase shares at a 50% discount to NAV in the near term; and 3) for Industrivärden, we recently reiterated our HOLD and lowered our target price to SEK345 (400), as we see risk to the earnings outlook of its portfolio com...

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We remain on the sidelines following Industrivärden’s Q1 report, reiterating our HOLD but with a lowered SEK345 (400) target price. While this reflects forward NAV growth of 26%, we have raised our target discount to NAV to 20% to account for the current macro situation (potential near-term volatility in its portfolio companies’ earnings outlook). We see clearer near-term value in its main owner Lundbergs given its defensive portfolio characteristics, a lower portfolio-weighted US exposure and a...

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