Industrivarden Ab Class A · OMXSTO:INDU_A
Industrivarden Ab Class A — FY2007 Earnings Presentation
15 slides from Industrivarden Ab Class A's earnings presentation, Feb 13, 2008
Slide 1: A long-term industrial developer of listed companies
”A long-term industrial developer of listed companies” Year-End Report 2007 Industrivärden, February 13, 2008 AN_Pres_KV407 Nr 1
Slide 2: Company in brief
Company in brief Established: 1944 Stock: 386 million shares, listed on SSEX Market cap: Approx. USD 5.9 bn (SEK 38 bn) Free float: Approx. 40% of shares No. shareholders: 40,000 Average daily trading vol.: Approx. 280,000 shares Coverage: Carnegie, Frida Willmansson, +46 8 676 88 00 E
Slide 3: Portfolio of quality companies
Portfolio of Professional First-rate methods quality organization and models companies Concentrated portfolio Proven value creation Own-developed work methods, provides focus over many years models and systems Depth of knowledge vouch for high quality Industry-leading companies provide fav
Slide 4: Mission, goal and strategy
Mission, goal and strategy Business mission Create shareholder value based on a professional investment operation and active ownership Our goal Generate high growth in net asset value over time Industrivärden’s stock will deliver a high total return to shareholders Portfolio Conditions Sectors: Se
Slide 5: 2007 in summary
2007 in summary 2008 2007 2006 Equities Portfolio Feb 12 Dec 31 Dec 31 – market value, SEK M 58.993 65.844 63.325 Transactions – acquisitions, SEK M 8.834 3.193 SEK per share – sales, SEK M 2.124 2.072 – net, SEK M 6.710 1.121 Feb 12 Dec 31 Sept 30 2008 2007 2007 Debt Stock portfolio 153 170 202 Net
Slide 6: Transactions during 2007
Transactions during 2007 Net purchases and net sales Purchases Thousands SEK M Sales Thousands SEK M Volvo A 31,367 4,216 Tandberg TV (entire holding)1 5,963 728 SSAB A1 14,597 2,489 Sandvik redemption shares 134,700 404 Sandvik 6,431 768 Isaberg Rapid 200 Other 815 Other 246 Total 8,288 Total 1,578
Slide 7: Financial position
31 -m 0,0 2,0 4,0 6,0 8,0 10,0 12,0 30 ar- 0 - 1 AN_Pres_KV407 30 jun -s - 01 Nr 7 31 e p- -d 01 31 ec -m -01 30 ar- - 02 Net debt (SEK bn) 30 jun- -s 02 31 e p- -d 0 31 ec 2 -m -02 30 ar- 0 - 3 30 jun- -s 03 31 e p- -d 0 31 ec 3 -m -03 30 ar- - 04 30 jun- -s 0 31 e p 4 Financial position -d -0 30 e
Slide 8: Industrivärdens dividend
Industrivärdens dividend Industrivärden’s dividend policy is to offer the shareholders a dividend yield that is higher than the average for the Stockholm Stock Exchange. According to the proposal the average dividend growth for the last five years period would be 12 percent. SEK/share Proposal 2006
Slide 9: Industrivärden's dividend
Industrivärden’s dividend 6 7% 6% 5 4.4% 5% 4 Bonusutdelning Bonus dividend 4% Ordinary utdelning Ordinarie dividend 3 4.0% SSEX dividend yield Direktavkastning börsen 3% Dividend yield Direktavkastning 2 2% 1 1% 0 0% 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Dividend: 2.25 3.10 4.20 4.18 2.
Slide 10: Development of portfolio companies
Development of portfolio companies 2007 Op. income. Δ, % Earn./share Δ, % PE-ratio Operating margin, % Δ, % Totalavk., % SEK m SEK 2007 08 98-07/yr Sandvik 07’ 14.394 +19 7,65 +19 12 16,7 +-0 -12 14 12.068 6,45 16,7 SHB 9M:07’ 11.631 +10 14,58 +-0 8 56,7 +0,8 -15 12 (exkl SPP) 9M:06’ 10.589 14,63 55
Slide 11: A portfolio of industry-leading companies
A portfolio of industry-leading companies Leading metal powder producer Leading player in complex 1% or SEK 0.7 bn (2004) construction projects 6% or SEK 4 bn (1987) World leader in Leading producer of Leading high-tech company moisture control heavy vehicles in materials technology 2% or SEK 1 bn (
Slide 12: Equities portfolio as per February 12, 2008
Equities portfolio as per February 12, 2008 Value % of % of % of votes distribution portfolio capital in in Stock No. shares SEK M SEK/share value company company Sandvik 136,431,200 13,336 35 23 11.5 11.5 Handelsbanken A 68,285,000 12,073 3 21 10.9 11.1 Handelsbanken B 118,900 SSAB A 56,430,243 10,
Slide 13: Favorable development of net asset value...
Favorable development of net asset value... SEK M Kr/aktie SEK/share Mdkr 70 160 149 151 142 142 60 140 124 125 50 120 40 102 95 100 30 80 80 75 78 20 63 60 10 40 0 -10 20 -20 0 Portfolio Aktieportföljen Net debt Nettoskuld Substansvärde Net asset value Average growth, reinvested dividends included:
Slide 14: ... and long-term excess returns
... and long-term excess returns The average annual excess return was: +-0%-points/year for last five years +2%-points/year for last ten years Total return index (Index) (c) SIX AB 2008 410 350 Industrivärden share 300 250 200 150 Total Return Index (SIXRX) 100 1998 1999 2000 2001 2002 2003 2004 200
Slide 15: Industrivärden online
Industrivärden online Reuters code INDUa.ST Bloomberg code INDUA SS Datastream code W :IU www.industrivarden.net info@industrivarden.se +46-8-666 64 00 +46-8-661 46 28 Box 5403, SE-114 84 Stockholm, Sweden www.industrivarden.net / IR / Ask… / Info... Press release direct: www.waymake