"I am impressed by the management teams in our companies and the way they have handled a challenging year. They have stayed close to their customers, while quickly adapting their operations. I also believe that our companies have done an excellent job in balancing necessary cost reductions with continuation of prioritized investments to future-proof the businesses and emerge as long-term winners."
Highlights during the third quarter
· Adjusted net asset value (NAV) amounted to
· Listed Companies generated a total return of 7 percent.
· Based on estimated market values, the total return for
(16 percent including cash), driven by multiple expansion and higher earnings (adjusted for items affecting comparability in
· Sales growth for the major subsidiaries amounted to 2 percent, of which 5 percent organic in constant currency. Reported EBITA declined by 1 percent, while adjusted EBITA grew by 7 percent.
· Mölnlycke reported organic sales growth of 29 percent in constant currency, mainly driven by covid-19 related sales of personal protective equipment. This positive impact is expected to remain during the fourth quarter and into 2021, although to a lesser extent. Underlying organic growth was solid in both business areas and the EBITA-margin was in line with last year.
· Patricia Industries announced the acquisition of Advanced Instruments, the global leader in instrumentation and consumables for osmolality testing, for
· The value of our EQT investments increased by 3 percent. Net cash flow to Investor amounted to
· Leverage (net debt/reported total assets) was 4.7 percent as of
For further information:
Phone +46 70 550 3500
viveka.hirdman-ryrberg@investorab.com
Magnus Dalhammar, Head of Investor Relations,
Phone +46 73 524 2130
magnus.dalhammar@investorab.com
This information is information that
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Investor, founded by the Wallenberg family in 1916, is an engaged owner of high quality global companies. We have a long-term investment perspective. Through board participation, as well as industrial experience, our network and financial strength, we work continuously to support our companies to remain or become best-in-class. Our holdings include, among others, ABB,
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