Kinnevik: Interim report 1 January – 30 June 2017

Development in the operating companies

  • Zalandos preliminary figures for the second quarter showed a revenue growth of 19-21% and an EBIT margin of 7.3-7.8% in

  • GFG had a revenue growth in the first quarter of 18% and an EBITDA margin of -13%

  • Millicom’s organic tjänsteintäkter decreased by 1.3% in the second quarter, and the EBITDA margin amounted to 35%

  • Tele2’s net sales in the second quarter increased by 3% on a comparable basis and EBITDA margin amounted to 20%

  • Com Hem had organic revenue growth of 5% in the second quarter and the organic underlying EBITDA margin of 48%

  • MTG reported an organic sales growth in the second quarter of about 5% and an EBIT-margin of 9%

Investment activity

  • Investments of eur 3.9 Billion in the second quarter, of which 3,7 Billion for a stake of 18.5% in Com Home

  • Total sales of 3.1 Billion, of which:

    • 2,1 Billion (217 MILLION) related to the sale of Kinnevik’s remaining holding in Rocket Internet

    • Sek 1.0 Billion (115 MILLION) related to the sale of Kinnevik’s remaining holding in Lazada

  • On 21 July, Kinnevik announced an investment of 65 million in Betterment, which increases its share to 16%

Financial position

  • Net asset value amounted to 81,9 Billion (298 sek per share), an increase by 2.4 Billion or 3% during the quarter driven by a rise of 1.9 Billion for Zalando and a rise of 1.2 Billion for Tele2 including dividends. Including reinvested dividends of 2.2 Billion, the value of 6% during the quarter

  • Net debt of 0.8 Billion at the end of the quarter

  • The issuance of new bond loans of 1,45 Billion and the extension of the bond loan that matures in 2022 with a 400 M


  • Georgi ” strengthening freedom, security appointed chief executive officer from January 1, 2018

This information is such information that Kinnevik AB (publ) is obliged to publish under the EU marknadsmissbruksförordning and the law on the securities market. The information was submitted, through the following contact person in the government, for publication on July 21, 2017 there is a 08.00 CET.

For further information, please visit or contact:

Torun Litzén, Information and IR manager

Telephone +46 (0)8 562 000 83

Mobile +46 (0)70 762 00 83

Kinnevik is a sektorfokuserat investment company that is passionate about entrepreneurship. Together with driven founders and business leaders, we build digital konsumentbolag that offers people more and better choices. We create, invest in and lead the rapidly growing businesses in both developed and emerging markets. We believe in delivering both shareholder value and social value, and by building well-governed companies that contribute positively to society. Kinnevik was founded in 1936 by the families of Stenbeck, Klingspor and von Horn.

Interim report 1 January – 30 June 2017