Sweden's Investor AB Registers Total Shareholder Return of 8%

By Dominic Chopping

STOCKHOLM--Investor AB recorded a total shareholder return of 8% for the third quarter, turning positive after a negative return of 3% in the prior-year period.

Investor AB's net asset value per share rose to 277 Swedish kronor ($26.37) at the end of September from 273 kronor at the end of June. On an adjusted basis, NAV per share stood at 322 kronor, while net profit attributable to shareholders rose to 12.8 billion kronor in the third quarter from a loss of 11.09 billion kronor a year earlier as the value of its investments rose sharply.

The company said Thursday that several markets are struggling, including large parts of Europe, while the war in Ukraine continues and the situation in the Middle East risks escalating further. In addition, the outcome of the upcoming U.S. Presidential election adds to the current uncertainty.

"Amid all the unpredictability, one thing remains perfectly clear: competition is fierce, requiring our companies, and ourselves, to constantly focus on efficiency and agility," Chief Executive Christian Cederholm said.

Investor AB is the investment vehicle of Sweden's prominent Wallenberg family.

Write to Dominic Chopping at [e-mail]

(END) Dow Jones Newswires

10-17-24 0311ET