By Dominic Chopping
STOCKHOLM--Investor AB on Monday reported a total shareholder return of 6% in the second quarter of 2023 compared with a negative return of 17% in the same period the previous year.
Investor's net asset value per share rose to 220 Swedish kronor ($21.47) at the end of June from SEK208 at the end of March. On an adjusted basis, NAV per share stood at SEK252.
The company posted a net profit attributable to shareholders of SEK45.34 billion in the second quarter, from a SEK65.49 billion loss a year earlier, boosted by a sharp rise in the value of its investments.
"Supply chain constraints continue to ease, and significant investments are made to capitalize on opportunities related to climate change and digitalization," Chief Executive Johan Forssell said.
"We also see increased capex in certain industries due to the geopolitical situation and the need to increase resilience by investing more regionally."
Investor said that at the end of the quarter its leverage was 2%, at the low end of its 0%-10% target range. In combination with its cash flow generation, this offers "significant financial capacity" to invest.
Investor is the investment vehicle of Sweden's prominent Wallenberg family.
Write to Dominic Chopping at email@example.com
(END) Dow Jones Newswires