Adjusted for purchases and sales, the value of the equities portfolio increased by 16% to SEK 94.2 billion (81.8).
Net asset value
Net asset value at year-end was SEK 191 per share (160), an increase of 20% for the year and 23% including reinvested dividend.
The total return was 17% for Industrivärden’s Class A shares and 21% for the Class C shares, compared with 10% for the Stockholm Stock Exchange’s total return index (SIXRX).
The debt-equities ratio was 12%, a decrease of 3 percentage points during the year.
A selection of strategic activities in portfolio companies
The proposed split into two companies with leading businesses in hygiene and forest products, respectively, will result in greater focus and room to maneuver, which will lead to long-term value creation over time. The strategic acquisition of BSN medical, with products in wound care and compression therapy, creates a new platform for growth.
The establishment of a brand- and business area–driven organization with decentralized responsibility, combined with strong cost control and focus on continuous improvement, is contributing to increased efficiency and profitability. The company has also announced divestments of non-core businesses.
The new, decentralized organizational structure, with a reduction of the number of business areas from five to three, will result in a more effective and customer-centric business model with greater transparency, and clearer allocation of responsibilities. The company intends to divest non-core business parts.
The rights issue in which Industrivärden subscribed for its allotment strengthens the company’s long-term value potential. Continued efficiency improvements and adaption to the challenging market situation.