Industrivarden Ab Class A · OMXSTO:INDU_A
Industrivarden Ab Class A — 9M 2008 Earnings Presentation
14 slides from Industrivarden Ab Class A's earnings presentation, Oct 31, 2008
Slide 1: A long-term industrial developer of listed companies
”A long-term industrial developer of listed companies” Interim Report, January - September Industrivärden, October 31, 2008 AN_Pres_KV308 Nr 1
Slide 2: 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 3: Company in brief
Company in brief Established: 1944 Stock: 386 million shares, listed on SSEX Market cap: Approx. USD 2.7 bn (SEK 21 bn) Free float: Approx. 40% of shares No. shareholders: 43,000 Average daily trading vol.: Approx. 280,000 shares Coverage: Handelsbanken Markets, Magnus Dalhammar +46 8
Slide 4: First ten months 2008 in summary
First ten months 2008 in summary Net asset value on October 29 was SEK 64 per share, including reinvested dividends a decrease of 53% since the start of the year. The total return for the Class A shares was -47%, compared with -39% for the return index. Purchase of SEK 1.5 bn of Class A shares in Vo
Slide 5: The reporting period in summary
The reporting period in summary 2008 2008 2007 Equities Portfolio Oct 30 Sept 30 Dec. 31 – market value, SEK M 35,406 44,408 65,844 Transactions – acquisitions, SEK M 3,867 3,775 8,834 SEK per share – sales, SEK M 3,592 3,501 2,124 Oct 30 Sept 30 Dec. 31 – net, SEK M 275 274 6,710 2008 2008 2007 Equ
Slide 6: Financial position
30 -1,0 11,0 13,0 15,0 1,0 3,0 5,0 7,0 9,0 30 -jun -s - 0 AN_Pres_KV308 31 e p 1 - -0 31 dec 1 Nr 6 -m -01 30 ar- - 0 30 jun 2 -s - 0 31 e p 2 Net debt (SEK bn) - -0 31 dec 2 -m -0 2 30 ar- - 0 30 jun 3 -s - 0 31 e p 3 -d -0 31 ec 3 -m -03 30 ar- 0 30 -jun 4 -s 0 - 31 e p 4 - -0 30 dec 4 -m -04 30 a
Slide 7: 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 8: Development of portfolio companies
Development of portfolio companies 9M: 2008 Op. income Δ, % Earn. per Δ, % P/E-ratio Operating Δ, %- Net turnover Δ, % Total return, % 98-08/yr SEK M share, SEK (r 12M) margin, % pts SEK M 12 mts Sandvik 10,559 -6 5.38 -10 7 15.4 -2.2 68,484 +8 -46 12 SHB 10,110 -13 12.16 -17 8 49.6 -7.1 20,378 -1 -
Slide 9: Active ownership – strategic activities 07/08
Active ownership – strategic activities 07/08 Handelsbanken SSAB Acquisition of IPSCO for SEK 50 bn Greater focus on organic growth outside Sweden Acquisition of a Danish bank with 14 offices increases capacity for niche products Divesture of IPSCOs tube business New Chairman of the board
Slide 10: Good long-term growth in value
Good long-term growth in value The average annual excess return for last ten years was 1 %-points/year Total return index (Index) (c) SIX AB 2008 419 Industrivärden share 350 300 250 200 Total Return Index (SIXRX) 150 100 98 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 As per September 30, 2008
Slide 11: 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 12: A portfolio of industry-leading companies
A portfolio of industry-leading companies Leading metal powder producer Leading player in complex 1% or SEK 0.4 bn (2004) construction projects 6% or SEK 2.1 bn (1987) World leader in Leading high-tech company Leading producer of moisture control in materials technology heavy vehicles 1% or SEK 0.74
Slide 13: Equities portfolio as per October 30, 2008
Equities portfolio as per October 30, 2008 Value % of % of % of votes distribution portfolio capital in in Stock No. shares SEK M SEK/share value company company Handelsbanken A 67,541,759 9,765 25 27 10.9 11.0 Handelsbanken B 118,900 Sandvik 136,931,200 6,710 17 19 11.5 11.5 SSAB A 52,789.646 4,060
Slide 14: Industrivärden online
Industrivärden online Reuters code INDUa.ST Bloomberg code INDUA SS Datastream code W :IU www.industrivarden.net [email protected] +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