Operating Companies' Performance
- Communication companies: Millicom's organic revenue growth in local currencies at 10% and Tele2's mobile end-user service revenue up 10% (including positive currency effects)
- Fashion e-commerce: Zalando's preliminary sales up 27-29% with an EBIT margin of 4-6%
- Rocket Internet: Consolidating food delivery market and launching new business models
- Marketplaces: Avito, Quikr and Saltside migrating towards "Augmented Marketplaces"
Kinnevik Investment Activity
- Investments focused on existing companies:
- Quikr USD 40m (SEK 346m)
- Westwing EUR 20m (SEK 186m)
- Saltside USD 5m (SEK 41 m)
- Divestment of a 24.5% stake in Transcom for SEK 421m
- Net investments during the first quarter SEK 173m (versus full-year guidance of up to SEK 1.0bln)
Kinnevik Financial Position
- Net asset value of SEK 84bln or SEK 303 per share, stable compared to year-end 2014
- Strong balance sheet, net debt of SEK 0.1bln in the parent company
- Share price up 13% in the quarter, discount to net asset value at 5% at quarter-end
