Q4 2025 Kinnevik AB Earnings Call Transcript
Key Points
- Kinnevik AB (KNEVF) reported solid operational development in its core companies, with an average revenue growth of 34% and improved margins.
- The company made significant investments in next-generation AI native companies, ensuring a strong pipeline of future core companies.
- Kinnevik AB (KNEVF) achieved an IRR of close to 30% on its investments in Mews, with the company valued at 20% above the previous quarter's mark.
- The healthcare portfolio showed promising developments, with Spring Health's acquisition of Alma and Enveda's positive clinical trial results.
- Kinnevik AB (KNEVF) maintained a strong net cash position of SEK7.6 billion, providing financial flexibility for future investments.
- The company's net asset value (NAV) was down 4% in Q4 and 8% for the year, impacted by currency and public market headwinds.
- Several climate tech investments faced write-downs due to market and regulatory challenges, weakening investor sentiment, and operational issues.
- The company experienced a 49% write-down in Stegra due to ongoing funding round uncertainties and potential dilution.
- Public market multiples and currency movements negatively impacted the company's NAV by SEK6.5 billion in aggregate.
- Cityblock's revenue outlook was reduced due to a large contract falling out of the new sales pipeline, impacting near-term performance.
Good day, and thank you for standing by. Welcome to Kinnevik Q4 report 2025 conference call and webcast. (Operator Instructions)
Please note that today's conference is being recorded. I would now like to turn the conference over to your first speaker, Georgi Ganev, CEO. Please go ahead, sir.
Thank you. Good morning, everyone, and welcome to the presentation of Kinnevik's results for the fourth-quarter and full-year 2025. I'm Georgi Ganev, Kinnevik's CEO. And with me today is Samuel Sjostrom, our CFO; and Christian Scherrer, Senior Investment Director and Head of Health & Bio. We will begin today's call by walking you through the key events of the quarter as well as the full year of 2025.
I will then hand over to Christian, who will give you some more insights into our newest investments, Oviva, as well as other exciting developments in our healthcare portfolio. After that, Samuel will provide you with a financial update, including our capital allocation, our financial position, and net
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
