Kinnevik Ab Class A · OMXSTO:KINV_A
Kinnevik Ab Class A — Q4 2024 Earnings Presentation
18 slides from Kinnevik Ab Class A's earnings presentation, Feb 4, 2025
Slide 1: Presentation of Q4 2024
PRESENTATION OF Q4 2024 4 February 2025
Slide 2: Agenda and Today's Presenters
Q4 2024 Agenda Today’s Presenters 1. Key Events of the Quarter TravelPerk Accelerating Growth Enveda Entering the Clinic 2. Financial Update Financial Position Net Asset Value Development Private Company Valuations 3. 2025 Outlook Georgi Ganev Samuel Sjöström Torun Litzén Chief Executive O
Slide 3: Key Events of the Quarter
Section 1 KEY EVENTS 4 February 2024 2024 Q4 OF THE QUARTER
Slide 4: Another quarter of executing on our strategic priorities
Q4 2024: KEY EVENTS OF THE QUARTER Another quarter of executing on our strategic priorities – backing our companies’ long-term growth and investing our capital in a disciplined and discretionary way Key Events of the Quarter Q4 2024 NAV growing 5% to SEK 39.2bn or SEK 139 per share Private portfol
Slide 5: TravelPerk raised USD 200m and acquired Yokoy
Q4 2024: KEY EVENTS OF THE QUARTER TravelPerk raised USD 200m and acquired Yokoy to create the leading integrated travel and expense management platform, with us investing SEK 485m in the quarter TravelPerk New Funding Round & Acquisition of Yokoy Building the leading travel and expense management
Slide 6: TravelPerk investment shows the strengths of our model
Q4 2024: KEY EVENTS OF THE QUARTER Our TravelPerk investment shows the strengths of our model, with more than 10 individual investments over a 6½-year journey to date, 6x-ing our capital invested through follow-ons TravelPerk Development Since 2018 Run-Rate Accumulated Investment & Fair Value Invest
Slide 7: Enveda raised USD 130m and entered the clinic
Q4 2024: KEY EVENTS OF THE QUARTER Enveda raised USD 130m and entered the clinic with its first AI-discovered drug Enveda New Funding Round & Entering the Clinic USD 130m funding round led by Kinnevik and FPV Ventures Kinnevik investment of SEK 438m Participation from new and existing investors, i
Slide 8: Financial Update
Section 2 4 February 2025 FINANCIAL UPDATE Q4 2024
Slide 9: SEK 10.9bn net cash at end of 2024
Q4 2024: FINANCIAL UPDATE SEK 10.9bn net cash at end of ‘24 after directing >80% of follow-on investment to focus co´s, entering 2025 with capital allocation flexibility to be exercised with discipline and precision Capital Allocation & Financial Position Q4 & FY 2024 Invested SEK 1.2bn in Q4 ‘24,
Slide 10: NAV up 5% underpinned by TravelPerk write-up
Q4 2024: FINANCIAL UPDATE NAV up 5% underpinned by TravelPerk write-up, stable operational performance, multiple contraction in listed healthcare peers, and positive currency movements Net Asset Value High-Level Q4 ‘24 Movements NAV up 5% in Q4 to SEK 39.2bn or 139 per share Change in Portfolio Va
Slide 11: Multiples in private portfolio's public benchmarks up 3%
Q4 2024: FINANCIAL UPDATE Multiples in the private portfolio’s value-weighted public benchmarks were up 3% on average, and the dollar provided meaningful tailwind Net Asset Value External Drivers Change in Change in Key Investee(s) Change % of Private Peer Set Currency % of NAV Multiple Share Price
Slide 12: Core companies increasing investment into growth in 2025
Q4 2024: FINANCIAL UPDATE With improved margins in 2024 and proven profitability potential, our core companies are increasing investment into growth in 2025 Core Companies Operational Performance Revenue growth in core companies of >55% in 2024 Revenue Growth and EBITDA Margins on a weighted avera
Slide 13: Solid NAV development in our core despite headwinds
Q4 2024: FINANCIAL UPDATE Solid NAV development in our core despite multiple headwinds in healthcare peers, TravelPerk funding round adding to valuation proof points accumulated during 2024 Core Companies Key Financial & Valuation Metrics, NTM Basis, Fair Value in SEKm Change in Change in Change in
Slide 14: Enveda written up; mature non-core companies stable
Q4 2024: FINANCIAL UPDATE Behind our core companies, Enveda was written up after its new funding round, and our profitable “mature non-core” companies delivered a stable end to 2024 Full Private Portfolio: Most Impactful Revisions and NAV Categories Key Financial & Valuation Metrics, NTM Basis, Fair
Slide 15: 2025 Outlook
Section 3 4 February 2025 2025 OUTLOOK Q4 2024
Slide 16: In 2025, we look forward to the strengths of our strategy
Q4 2024: 2025 OUTLOOK In 2025, we look forward to the strengths of our strategy and our portfolio becoming more apparent and better reflected in our value creation trajectory Discipline in Stability in Proof-Points & Capital Allocation Performance Transparency With limited capital needs in the With
Slide 17: Questions & Answers
Section 4 4 February 2025 QUESTIONS & ANSWERS Q4 2024
Slide 18: Kinnevik
Kinnevik