Development during the second quarter of 2007:
* Total revenues amounted to SEK 597.2 million (377.5),
corresponding to an increase of 58%.
* Operating income amounted to SEK 99.7 million (37.7),
corresponding to an increase of 164%.
* Profit after tax amounted to SEK 73.8 million (39.9),
corresponding to an increase of 85%.
Development during the first six months of 2007:
* Total revenues amounted to SEK 1,111.3 million (810.2),
corresponding to an increase of 37%.
* Operating income totaled SEK 210.0 million (133.5),
corresponding to an increase of 57%.
* Profit after tax amounted to SEK 156.1 million (109.7),
corresponding to an increase of 42%.
* Earnings per share rose to SEK 5.05 (4.16). Earnings per share
after dilution amounted to SEK 5.04 (3.61).
* Modern Insurances Non-Life showed continued growth, with a 20%
increase in total income and a 13% increase in operating
income.
* Modern Insurances Life's sales of unit-linked insurance
products amounted to SEK 6.6 billion during the first six
months, an increase of 197% compared with the corresponding
period in the preceding year. Embedded Value for unit-linked
insurance operations amounted to SEK 806.5 million, an increase
of SEK 277.3 million since 1 January 2007.
* Combined fund assets in Invik Funds amounted to slightly more
than SEK 21.6 billion at 30 June 2007, an increase of 95%
compared with the same date in 2006.
* Milestone's bid for all Invik shares was completed on 27 June
2007, and on the closing date, Milestone owned Invik shares
corresponding to 99% of the voting rights and 98% of the share
capital.
* On 9 July Invik filed a request for delisting of the Invik B
share from the OMX Nordic Exchange in Stockholm. The final
trading day was set to 17 August 2007.
* On 13 July Milestone initiated a compulsory redemption process
regarding the remaining Invik shares not yet acquired by
Milestone.
For further information, please visit www.invik.se or contact:
Anders Fällman, President and CEO +46 (0)8 562 000 20
Mattias Björk, CFO +46 (0)8 562 000 58
__________________________________
Invik is a finance group with a broad product profile focusing on
insurance, banking and fund management. Invik is active in a number
of carefully selected segments in which the Group can create high
growth and build long-term, successful companies, while consistently
focusing on profitability. Group companies are distinguished by their
constant efforts to seek new avenues for growth in profitable niches
in the financial sector.
Invik is made up of five major financial operations: Modern
Insurances Non-life, with its direct insurance operations focusing on
individuals and small companies; Modern Insurances Life, which offers
life, pension and endowment insurances; Assuransinvest manages the
remaining run-off portfolio; Banque Invik, a private bank based in
Luxembourg with operations in asset management, card operations and
corporate services and Invik Funds, which pursues fund operations in
Aktie-Ansvar and Modern Funds. Invik is listed on the OMX Nordic
Exchange in Stockholm under the name INVKB.
The full report with tables and the PDF version of the press release
can be downloaded from the following links:
Interim report 1 January - June 30, 2007
| Source: Invik & Co. AB