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TMCNet:  Kinnevik : Interim Report 1 January - 30 June 2014

[July 18, 2014]

Kinnevik : Interim Report 1 January - 30 June 2014

(Thomson Reuters ONE Via Acquire Media NewsEdge) Highlights * Lorenzo Grabau assumed the role of CEO of Kinnevik on 1 May. Kinnevik will focus on building a select number of leading digital consumer brands through key partnerships around the world.


* Compared to the first half of 2013, Kinnevik's proportional share of its investee companies' revenues grew by 10% with E-commerce & Marketplaces growing 38%.

* Based on preliminary numbers for the first half of 2014, Zalando reached revenues of EUR 1,020-1,060m and recorded an operating profit during the second quarter, resulting in an operating result around breakeven for the first half of 2014.

* In May, Bigfoot I and Bigfoot II shares were transferred from Rocket Internet to Kinnevik, increasing its direct ownership by 5.5% in Bigfoot I and 4.6% in Bigfoot II.

* In June, Rocket Internet's legal form was transformed into a German stock corporation (AG).

* On 30 June, Kinnevik had a net cash position of SEK 1.1bln in the parent company. Revised guidance for new investments for the full year 2014 is SEK 1.0-1.5bln.

* Kinnevik was included in the OMXS30 index on 1 July.

Q2 * The net asset value increased during the quarter by 4% corresponding to SEK 2,326m, after a dividend paid of SEK 1,941m, and amounted to SEK 68,509m at the end of June, corresponding to SEK 247 per share.

* The increase in net asset value was driven by a positive change in fair value of SEK 5,325m related to the unlisted holdings and a negative change in fair value of SEK 775m related to the listed holdings, net of dividends received.

* Profit per share amounted to SEK 15.02 (0.62).

* New investments amounted to SEK 140m, of which SEK 132m into E-commerce & Marketplaces.

* The share price increased 19% to SEK 284.80 at the end of June.

 H1 * The net asset value increased during the first half year by SEK 2,982m.

* Profit per share amounted to SEK 17.52 (loss of 5.21).

*  New investments amounted to SEK 616m, of which SEK 514m into E-commerce & Marketplaces.

Press release: http://hugin.info/1114/R/1830270/634804.pdf This announcement is distributed by GlobeNewswire on behalf of GlobeNewswire clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Kinnevik via GlobeNewswire [HUG#1830270]

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