Kinnevik Ab Class A · OMXSTO:KINV_A
Kinnevik Ab Class A — Q1 2025 Earnings Presentation
16 slides from Kinnevik Ab Class A's earnings presentation, Apr 24, 2025
Slide 1: Presentation of Q1 2025
PRESENTATION OF Q1 2025 24 April 2025
Slide 2: Agenda and Today's Presenters
Q1 2025 Agenda Today’s Presenters 1. Key Events of the Quarter Core Company Performance Mews Capital Raise 2. Financial Update Capital Allocation & Financial Position Net Asset Value Development Private Company Valuations 3. 2025 Outlook 4. Q&A Georgi Ganev Samuel Sjöström Torun Litzén Chi
Slide 3: Key Events of the Quarter
Section 1 KEY EVENTS 24 April 2025 Q1 2025 OF THE QUARTER
Slide 4: Key Events of the Quarter
Q1 2025: KEY EVENTS OF THE QUARTER While global uncertainty weighed on NAV, our focus companies started 2025 with strong operational progress and raised more capital to maintain a focus on growth Key Events of the Quarter Q1 2025 NAV down 8% to SEK 36.2bn or 131 per share (down 2% in constant FX)
Slide 5: Core Company Performance
Q1 2025: KEY EVENTS OF THE QUARTER Our core companies delivered on expectations in 2025’s first months, but if market uncertainty persists, or worsens, this may weigh on their performance and valuations Core Company Performance Q1 2025 Consistent start of the year from our five core companies, hit
Slide 6: Mews raised EUR 70m in new financing
Q1 2025: KEY EVENTS OF THE QUARTER Mews raised EUR 70m in new financing to cement its industry leadership and continue to redefine hospitality management by investing heavily in GTM and product expansion Mews Opportunistic Fundraise Financing Growth Investment Mews is our youngest and most early-s
Slide 7: Financial Development
Section 2 24 April 2025 FINANCIAL DEVELOPMENT Q1 2025
Slide 8: Capital Allocation & Financial Position
Q1 2025: FINANCIAL DEVELOPMENT SEK 10.5bn net cash and well-funded portfolio with improved margins at end of Q1 ’25 – focus on utilizing our capital allocation strength and flexibility with discipline Capital Allocation & Financial Position Q1 2025 Activity & Outlook Invested SEK 800m in Q1 ’25 Ch
Slide 9: Net Asset Value
Q1 2025: FINANCIAL DEVELOPMENT NAV was down 8% due to multiple contraction and significant currency depreciation, somewhat offset by continued operational performance Net Asset Value High-Level Q1 2025 Movements NAV down 8% in Q1 ‘25 to SEK 36.2bn or 131 per share (down 2% in Change in Portfolio V
Slide 10: Net Asset Value: External Drivers
Q1 2025: FINANCIAL DEVELOPMENT Multiples in public benchmarks were down 6% on average, and the portfolio’s currency basket was down 8% - compounding to form meaningful valuation headwind in the quarter Net Asset Value External Drivers, Averages Key Investees Change in Change % of Private Peer Set Cu
Slide 11: Core Companies
Q1 2025: FINANCIAL DEVELOPMENT Flat underlying core company valuations on average due to solid operational progress, with slight downward adjustments to forecasts due to current market uncertainty Core Companies Key Financial & Valuation Metrics, NTM Basis, Fair Value and Revenue in SEKm Change in C
Slide 12: Full Private Portfolio: Sectors & NAV Categories
Q1 2025: FINANCIAL DEVELOPMENT Our core companies was the most resilient to market headwinds, and an underlying write-up of Transcarent boosted multiple developments in Health & Bio and the unlisted portfolio at large Full Private Portfolio: Sectors & NAV Categories Key Financial & Valuation Metrics
Slide 13: Outlook
Section 3 24 April 2025 OUTLOOK Q1 2025
Slide 14: 2025 Outlook
Q1 2025: 2025 OUTLOOK While market uncertainty is at record-highs, in 2025 the strengths of our strategy and our portfolio will become more apparent and better reflected in our value creation trajectory Discipline in Stability in Proof-Points & Capital Allocation Performance Transparency With limite
Slide 15: Questions & Answers
Section 4 24 April 2025 QUESTIONS & ANSWERS Q1 2025
Slide 16: Kinnevik
Kinnevik