Highlights during the third quarter
- Adjusted net asset value (NAV) amounted to SEK 986.3bn (SEK 322 per share) on September 30, 2024, an increase of SEK 16.9bn, or 2 percent, during the quarter. Total shareholder return amounted to 8 percent, compared to 4 percent for the SIXRX return index.
- Listed Companies generated a total return of 1 percent.
- Based on estimated market values, the total return for Patricia Industries, excluding cash, amounted to 3 percent
(3 percent including cash), mainly driven by earnings growth, partly offset by negative currency impact. - Within Patricia Industries, sales growth for the major subsidiaries amounted to 5 percent, of which 7 percent organically in constant currency. Reported EBITA grew 6 percent and adjusted EBITA 8 percent.
- Mölnlycke reported organic sales growth of 9 percent in constant currency, with the largest business area Wound Care also growing 9 percent. The profit margin was essentially unchanged.
- Piab Group completed strategic add-on acquisitions for a total value of SEK 1.9bn on a cash- and debt-free basis. Patricia Industries invested SEK 1.2bn in Piab Group to support the acquisitions.
- The value change of Investments in EQT was 7 percent. Net cash flow to Investor amounted to SEK 352m.
- Leverage was 1.4 percent as of September 30, 2024 (1.7 percent as of December 31, 2023). Gross cash amounted to SEK 25,433m and the average maturity of Investor AB's debt portfolio was 10.1 years.