Investor 2Q NAV/Share Rose 3.6% On Quarter

   DOW JONES NEWSWIRES 
 

Swedish investment company Investor AB (INVE-B.SK) Tuesday said net asset value per share as of June 30 rose 3.6% to SEK231 from the previous quarter, boosted by the sale of CaridianBCT, a subsequent positive revaluation of its Gambro Holding by SEK4.6 billion as well as several successful exits by part-owned private equity firm EQT.

   MAIN FACTS: 

-An average of five analysts forecast a NAV per share of SEK226, according to a Dow Jones Newswires poll.

-The NAV per share represents a 37% discount to its share value on June 30.

-EQT funds contributed SEK2.0 billion to net asset value, driven by several successful exits.

-In 2Q, Investor bought SEK99 million net worth of shares in Swedish garden tools manufacturer Husqvarna AB (HUSQ-B.SK) and invested SEK258 million in the rights issue of Swedish Orphan Biovitrium AB (SOBI.SK).

-Core investments contributed SEK3.39 billion to NAV while financial investments contributed SEK7.37 billion.

-The company upgraded valuations for all unlisted subsidiaries -- Molnlycke Health Care, Aleris and Grand Hotel -- as well as for its partner-owned investments, including Gambro Holding, Lindorff and 3 Scandinavia.

-CEO Borje Ekholm said he sees the potential for SEK60 million in synergies from Aleris' recent two add-on acquisitions in Sweden and Denmark.

-Ekholm also said the company doesn't control the exit horizon for its partner-owned investments and that these may be sold or become core investments.

-He said the company increased its liquidity by raising a 12-year EUR500 million bond in early May and by refinancing SEK10 billion revolving credit facility in early July.

-He said it is prudent to plan for recurring bursts of uncertainty but that investing for the long-term will be rewarding.

-The total return on the Investor share in the first six months was 4%.

-Net profit rose to SEK9.73 billion in 2Q from SEK787 million in the 2Q 2010, as the value of its holdings increased more in the year-earlier period.

-The company said its restructuring and cost cutting programs are proceeding as planned.

-Shares closed at SEK138.80 on Monday.

-By Anna Molin, Dow Jones Newswires; [phone]; [e-mail]

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