INDU C Industrivarden AB Class C

Ledningsförändring i Industrivärden

Ledningsförändring i Industrivärden

Jan Öhman, som varit Industrivärdens ekonomi- och finanschef sedan februari 2019, har valt att lämna sin befattning. Han kvarstår i sin roll till februari 2023 och rekryteringen av en ersättare kommer att påbörjas omedelbart.

”Jag vill tacka Jan för hans gedigna arbete med att utveckla och driva Industrivärdens ekonomi- och finansfunktion samt mycket förtjänstfulla insatser i bolagets ledningsgrupp under hans tid på Industrivärden. Efter många år i olika roller inom näringslivet har han nu valt att gå i pension och jag önskar Jan all lycka i framtiden”, säger Industrivärdens VD Helena Stjernholm.



Stockholm den 18 augusti 2022

AB INDUSTRIVÄRDEN (publ)



För ytterligare information kontakta:

Helena Stjernholm, Verkställande direktör, tel. 08-666 64 00



Lämnad för publicering den 18 augusti 2022 kl. 13:00.

Bilaga



EN
18/08/2022

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Reports on Industrivarden AB Class C

Linus Sigurdson
  • Linus Sigurdson

The weekly navigator

From the past week, we highlight: 1) Investor bought shares in EQT for the first time since its 2019 IPO; 2) ahead of Kinnevik’s 12 May AGM, we highlight the return of Cristina Stenbeck as chair and the potential for share buybacks at a 40% discount to NAV; and 3) Lundbergs bought shares in its existing holdings for SEK512m.

Linus Sigurdson
  • Linus Sigurdson

The weekly navigator

From the past week, we highlight: 1) we lowered our target price for Latour to SEK300 (340) following a Q1 report with a slight NAV decline but strong organic order intake growth; 2) Investor bought 6.3m Ericsson shares, and we highlight its successful top-ups in the name; 3) insider purchases at Investor are in our view a signal to look beyond a relatively small discount to NAV; and 4) Flat Capital reported Q1 NAV down 1% QOQ.

Linus Sigurdson
  • Linus Sigurdson

The weekly navigator

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 ...

Linus Sigurdson
  • Linus Sigurdson

The weekly navigator

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...

Linus Sigurdson
  • Linus Sigurdson

Industrivärden (Hold, TP: SEK345.00) - Caught in a market headwind

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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