Kinnevik : Interim Report 1 January - 30 June 2014
(Thomson Reuters ONE Via Acquire Media NewsEdge)
* Lorenzo Grabau assumed the role of CEO of Kinnevik on 1 May. Kinnevik will
focus on building a select number of leading digital consumer brands through
key partnerships around the world.
* Compared to the first half of 2013, Kinnevik's proportional share of its
investee companies' revenues grew by 10% with E-commerce & Marketplaces
* Based on preliminary numbers for the first half of 2014, Zalando reached
revenues of EUR 1,020-1,060m and recorded an operating profit during the
second quarter, resulting in an operating result around breakeven for the
first half of 2014.
* In May, Bigfoot I and Bigfoot II shares were transferred from Rocket
Internet to Kinnevik, increasing its direct ownership by 5.5% in Bigfoot I
and 4.6% in Bigfoot II.
* In June, Rocket Internet's legal form was transformed into a German stock
* On 30 June, Kinnevik had a net cash position of SEK 1.1bln in the parent
company. Revised guidance for new investments for the full year 2014 is SEK
* Kinnevik was included in the OMXS30 index on 1 July.
* The net asset value increased during the quarter by 4% corresponding to SEK
2,326m, after a dividend paid of SEK 1,941m, and amounted to SEK 68,509m at
the end of June, corresponding to SEK 247 per share.
* The increase in net asset value was driven by a positive change in fair
value of SEK 5,325m related to the unlisted holdings and a negative change
in fair value of SEK 775m related to the listed holdings, net of dividends
* Profit per share amounted to SEK 15.02 (0.62).
* New investments amounted to SEK 140m, of which SEK 132m into E-commerce &
* The share price increased 19% to SEK 284.80 at the end of June.
* The net asset value increased during the first half year by SEK 2,982m.
* Profit per share amounted to SEK 17.52 (loss of 5.21).
* New investments amounted to SEK 616m, of which SEK 514m into E-commerce &
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Source: Kinnevik via GlobeNewswire
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