Full Year 2024 Investor AB Earnings Call Transcript
Key Points
- Net asset value grew by 20% for the full year 2024, significantly outperforming the SIXRX index which grew by 9%.
- Investor AB returned 27% for the year, showcasing strong performance across all business areas.
- The Board proposed a dividend of SEK5.2, an 8% increase from the previous year, aligning with the company's goal of steadily rising dividends.
- Patricia Industries reported a 6% total return in Q4, with strong earnings growth and favorable currency effects.
- Mölnlycke achieved 8% organic growth in Q4, with all business areas and major regions contributing positively.
- Net asset value decreased by 2% in Q4, with a total return on the B share of minus 6%, mirroring the SIXRX index.
- Listed companies, which make up 70% of the portfolio, saw a total return of minus 4% in Q4, with mixed performance across individual companies.
- BraunAbility and Atlas Antibodies faced weak demand in their respective markets, impacting their Q4 performance.
- Permobil experienced lower margins due to unspecified extraordinary costs in the quarter.
- Sarnova faced weaker demand in its cardiac response segment, attributed to high inventories and market destocking.
Good morning and welcome to Investors results call for the fourth quarter and full year 2024. I am joined here today by our new CFO, Jenny Ashman Haquinius. Warm welcome to you Jenny and our CEO, Christian Cederholm. Both will soon give their presentations and after that, we will be opening up for questions both on the call via our operator and online.
And with that over to you Christian.
Thank you Jacob and hello everyone. Warm welcome. Let me start with a brief summary of the full year before jumping into the fourth quarter. Net asset value grew by 20% and Investor AB returned 27%, this compares with 9% for SIXRX. All three business areas contributed to our NAV growth in '24.
Our portfolio companies generally performed well in a quite demanding environment, delivering profitable growth and cash flow. Also, they have invested significantly to future proof their
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