INDU C Industrivarden AB Class C

Industrivärdens styrelse återkallar förslaget om utdelning

Industrivärdens styrelse återkallar förslaget om utdelning

Med anledning av den rådande osäkerheten till följd av covid-19-pandemin har styrelsen beslutat att återkalla förslaget om utdelning till årsstämman den 24 april 2020. Styrelsen har ambitionen, om förutsättningar föreligger, att under hösten kalla till en extra bolagsstämma för beslut om utdelning.

Industrivärdens årsstämma äger rum som tidigare meddelats den 24 april 2020, klockan 14:00 i Vinterträdgården på Grand Hôtel i Stockholm. Industrivärden följer utvecklingen kring covid-19-pandemin noggrant liksom instruktioner från myndigheter. Uppdaterad information om årsstämman publiceras löpande på Industrivärdens webbplats.

Stockholm den 7 april 2020

AB Industrivärden (publ)

Styrelsen



För ytterligare information, kontakta:

Sverker Sivall, kommunikations- och hållbarhetschef, tel. 08-666 64 00



Denna information är sådan information som AB Industrivärden är skyldigt att offentliggöra enligt EU:s marknadsmissbruksförordning. Informationen lämnades, genom kommunikations- och hållbarhetschefen Sverker Sivalls försorg (tel. 08-666 64 00), för offentliggörande den 7 april 2020 kl. 11:00 CEST.

Bilaga

EN
07/04/2020

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Reports on Industrivarden AB Class C

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...

Linus Sigurdson
  • Linus Sigurdson

The weekly navigator

From the past week, we highlight: 1) we expect FX and multiples headwinds to weigh heavily on Kinnevik’s Q1 report; 2) VEF’s NAV looks set to grow by low single digits QOQ in USD terms; and 3) Industrivärden is due to report Q1 results next week, ahead of which we highlight a more attractive near-term investment story in its main owner Lundbergs.

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