Investor Year-end report 2024

"With a portfolio of leading companies, strong financials, and a dedicated, hard-working team, I am convinced that Investor is in a great position to continue its prosperous voyage."

Christian Cederholm
President & CEO of Investor

Highlights during the fourth quarter

• Adjusted net asset value (NAV) amounted to SEK 969.8bn (SEK 317 per share) on December 31, 2024, a change of SEK -16.5bn, or -2 percent, with dividend added back, during the quarter. Total shareholder return amounted to -6 percent, compared to -6 percent for the SIXRX return index. For 2024, adjusted net asset value growth amounted to 20 percent and total shareholder return to 27 percent, compared to 9 percent for the SIXRX.

• Listed Companies generated a total return of -4 percent. For 2024, the total return amounted to 18 percent.

• Based on estimated market values, the total return for Patricia Industries, including cash, amounted to 6 percent
  (7 percent excluding cash), primarily driven by positive currency impact and earnings growth, partly offset by lower multiples. For 2024, the total return amounted to 30 percent (32 percent excluding cash).

• Within Patricia Industries, sales growth for the major subsidiaries amounted to 5 percent, of which 3 percent organically in constant currency. Reported EBITA grew 12 percent and adjusted EBITA 11 percent.

• Mölnlycke reported organic sales growth of 8 percent in constant currency, with the largest business area Wound Care growing 10 percent. The profit margin increased. Mölnlycke distributed EUR 300m to Patricia Industries.

• The value change of Investments in EQT was -5 percent. Net cash flow to Investor amounted to SEK 910m. For 2024, the value change amounted to 8 percent and the net cash flow to Investor was SEK 252m.

• Leverage was 1.2 percent as of December 31, 2024 (1.7 percent as of December 31, 2023). Gross cash amounted to SEK 27,947m and the average maturity of Investor AB's debt portfolio was 9.8 years.

• The Board of Directors proposes a dividend per share of SEK 5.20 (4.80) to be paid in two installments, SEK 3.75 in May, 2025, and SEK 1.45 in November, 2025.