Industrivarden Ab Class A · OMXSTO:INDU_A
Industrivarden Ab Class A — FY2005 Earnings Presentation
15 slides from Industrivarden Ab Class A's earnings presentation, Feb 16, 2006
Slide 1: Year-End Report 2005
Year-End Report 2005 Industrivärden, February 16, 2006 AN_Pres_KV405 Nr 1
Slide 2: 2005 in summary
2005 in summary Net asset value: SEK 48.3 bn, an increase +SEK 11.7 bn or +32% Total return for the stock: 33% for the Class A-share 36% for the Class C-share 36% for the return index Stocks were purchased for SEK 3.0 bn and sold for SEK 4.0 bn The wholly owned subsidiary Indutrade was excha
Slide 3: Good short-term growth in value
Good short-term growth in value... +60% % SEK Mdkrbn 100 60 Total Return +94% +22% +32% 90 50 Net Asset Value 80 40 70 +65% 30 60 50 20 +46% Portfolio value 40 10 Return Index 30 +21% 0 20 Net Debt 2005 -10 2005 10 04 05 04 05 05 05 04 04 03 04 05 04 05 n n ar ar p p c c ju ju se de se de m m c c c
Slide 4: ...and good long-term growth in value
...and good long-term growth in value Annual average total return Industrivärden A SIXRX Difference Full year 2005 33% 36% -3 %pts 2 years 40% 29% +11 %pts 5 years 6% 4% +2 %pts 10 years 20% 14% +6 %pts 61 years 16% 14% +2 %pts Through December 31, 2005 AN_Pres_KV405 Nr 4
Slide 5: Major transactions during 2005
Major transactions during 2005 Net purchases Thousands SEK M Net sales Thousands SEK M SCA B 5,218 1,321 Indutrade 25,142 1,596 Höganäs B 2,610 471 Ossur hf 65,118 762 Ericsson B 5,000 137 Sandvik redemption shares (all) 954 375 Handelsbanken A 636 119 Nokia (all) 1,588 179 Other 161 Pfizer Inc. (al
Slide 6: Indutrade IPO
Indutrade IPO Indutrade Industrivärden Listed on Stockholm Stock Exchange on Continued long-term active owner with October 5, 2005 slightly more than 35% of the company Introduction price: SEK 65, oversubscribed 12 Payment for sold shares: SEK 1.6 billion times over Increase in net asset v
Slide 7: Divestment of Ossur
Divestment of Ossur Ossur Industrivärden Icelandic quoted medtech company with world Active owner with board representation leadership in prosthetics and orthotics during the period 2002 - 2005 A number of favorable acquisitions during the Sale of the entire holding for SEK 1,008 M, last yea
Slide 8: Continued strong financial position
31 -d 0,0 1,0 2,0 3,0 4,0 5,0 6,0 7,0 31 ec - -m 99 AN_Pres_KV405 30 ar- -j 00 Nr 8 30 un- -s 00 31 e p- -d 00 31 ec Net debt (SEK M) -m -00 30 ar- 0 - 1 30 jun- -s 01 31 e p- -d 01 31 ec -m -01 30 ar- 0 -j 2 30 un- -s 02 31 e p- -d 02 31 ec- -m 02 30 ar- -j 03 30 un- -s 03 31 e p- -d 03 31 ec -m -0
Slide 9: Up-weighting 2005 in SCA
Up-weighting 2005 in SCA Net SEK bn Average Last paid Value purchases price Feb. 14, increase, 2006 SEK bn 2005 SCA B 1.3 255 329 0.4 2004 SHB A 2.0 145 196 0.7 2004 Sandvik 1.6 251 411 0.9 Total 4.9 2.0 AN_Pres_KV405 Nr 9
Slide 10: A transparent portfolio of leading companies
A transparent portfolio of leading companies Dec. 31, 2005 Total return, % Feb. 14, 2006 Total return, % Value distri- Year Annual average Value distri- Portf. Stock No. shares bution, SEK M 2005 1996-2005 No. shares bution, SEK M share, % Handelsbanken 67.000.000 13.199 18 19 67.000.000 13.132 24 E
Slide 11: Investments based on good market knowledge
Investments based on good market knowledge Listed companies in the Nordic region: approx. 930 Total market cap: SEK 9,100 billion (January 2006) Continuous Structured Continuous analysis of Ability for quick scanning of all monitoring of selected companies entries companies all interesting that meet
Slide 12: 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. This goal has been achieved every year during the past ten-year period. SEK/share Proposal 2004 2003 2002 2001 2000 2005 Ordinary
Slide 13: Industrivärdens dividend
Industrivärdens dividend 9 7% 8 6% 7 5% 6 Bonus dividend Bonusutdelning 5 4% 3,2% Ordinary utdelning Ordinarie dividend SSEX dividend yield Direktavkastning börsen 4 3% Dividend yield Direktavkastning 3 2,8% 2% 2 1% 1 0 0% 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Dividend: 3,25 3,75 4,50 6,
Slide 14: Long-term excess returns
Long-term excess returns The average annual excess return was: +2%-points/year for last five years +6%-points/year for last ten years Total return index (Index) (c) SIX AB 2006 643 Industrivärden share 500 400 300 Total Return Index (SIXRX) 200 100 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 0
Slide 15: 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