Value and trading volume
Industrivärden’s Class A and C shares are listed on the Stockholm Stock Exchange (Nasdaq Stockholm), Large Cap segment. At year-end Industrivärden’s market capitalization was SEK 109.4 billion (123.8). During 2022 the price of Industrivärden’s Class A shares decreased by 12.1%, from SEK 288.40 to SEK 253.50, and the price of the Class C shares decreased by 10.9%, from SEK 284.10 to SEK 253.00. The highest price paid for the Class A and Class C shares was SEK 303.20 and SEK 298.70, respectively, and the lowest price paid was SEK 214.60 and SEK 205.40, respectively.
Trading volume in Industrivärden shares on the Stockholm Stock Exchange in 2022 totaled SEK 57 billion (57), corresponding to a turnover rate of 35% for the Class A shares (43%) and 78% for the Class C shares (61%). Average daily trading volume was approximately 357,000 Class A shares and approximately 528,000 Class C shares.
Share and shareholder structure
Industrivärden had approximately 197,000 shareholders (204,000) at year-end. Through Handelsbanken’s distribution in kind of Industrivärden shares in October 2021, Industrivärden gained approximately 90,000 new shareholders.
A significant majority of the number of shareholders are private persons, while a significant share of the capital is owned by institutional investors such as pension and asset management companies, and foundations. Foreign shareholders own 24% (27%) of the capital.
At year-end 2022 the share capital totaled SEK 1,088 M, distributed among 431,899,108 registered shares with a share quota value of SEK 2.52. Each Class A share carries entitlement to one vote, and each Class C share carries entitlement to 1/10 of a vote. All shares carry equal entitlement to the Company’s assets, earnings and dividends.
The total return for the Class A and C shares was –10% and –9%, respectively, compared with –23% for the total return index (SIXRX) and –13% for the OMXS30 index including reinvested dividend.
During the last ten-year period the average annual total return was 12% both for Industrivärden’s Class A and C shares, compared with 12% and 10% for the total return indices for the Stockholm Stock Exchange (SIXRX) and OMXS30 (OMX- S30GI), respectively. Since Industrivärden’s introduction on the stock market in 1945, the Class A shares have generated a total return of approximately 2,000,000%, compared with approximately 1,000,000% for the total return index (SIXRX).
Industrivärden’s Class A and C shares had standard deviations of 22.9% and 22.0%, respectively, and beta values of 1.00% and 0.99%, respectively, for the full year 2022, compared with the total return index (SIXRX).
Share structure on April 28, 2023
No. of shares
No. of votes
|A (1 vote)||260,342,503||260,342,503.0||60.3||93.8|
|C (1/10 vote)||171,556,605||17,155,660.5||39.7||6.2|
Industrivärden encourages its employees to make private investments in Industrivärden shares, as this aligns the interests of the Company’s employees with other shareholders. The long-term incentive programs adopted by the Annual General Meeting make up part of the employees’ total compensation and also aim to increase employees’ ownership of stock in the Company.