Kinnevik AB

Kinnevik is an investment company with holdings in the sectors of communication, e-commerce, entertainment and financial services. Co.'s holdings include Millicom, a telecommunications and media company providing digital lifestyle products and services to emerging markets, and Tele2, a telecom operator, providing mobile services, fixed broadband and telephony, data network services, cable TV and content services. Within e-commerce, Co. has focused its investments in the shoes and fashion segment through companies such as Zalando with geographical presence in Europe and companies such as Lamoda, Dafiti, Jabong and Zalora focused on emerging markets.
  • TickerKINV B
  • ISINSE0008373906
  • ExchangeNasdaq Nordic Stockholm
  • SectorFinancial Services
  • CountrySweden

Analysts

Joachim Gunell

The weekly navigator

Key takeaways from last week: 1) Media speculation heating up regarding a possible listing of EQT (7% of Investor); 2) we downgraded Latour to HOLD (BUY) as its discount had taken a detour too far south since the Q2 results, and we found the valuation a little demanding for our taste; and 3) Bure’s strong Q3 report was awarded with the sector’s best performance.

Joachim Gunell

The weekly navigator

Highlights from last week include: 1) the market sell-off creating investment opportunities for the long-term holding companies we cover, as evident from Investor building its position in Electrolux; and 2) the Stenbeck sphere continues to reduce its ownership in Kinnevik.

Joachim Gunell

The weekly navigator

Highlights from last week include: 1) the market sell-off creating investment opportunities for the long-term holding companies we cover, as evident from Investor building its position in Electrolux; and 2) the Stenbeck sphere continues to reduce its ownership in Kinnevik.

Joachim Gunell

Weekly NAV update

The key highlights from last week include: 1) following its Q3 results, we upgraded our recommendation to BUY (HOLD) for Kinnevik; 2) Industrivärden built its positions in core holdings Volvo and Sandvik; and 3) Investor supports Saab’s planned rights issue. Our sector top picks are Investor, Kinnevik and Latour.

Alexander Aukner ...
  • Antti Kansanen
  • Christer Magnergård
  • Christoffer Wang Bjørnsen
  • Eivind Sars Veddeng
  • Håkon Astrup
  • Helge André Martinsen
  • Joachim Gunell
  • Jon Masdal
  • Jørgen Lian
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Arnell
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Mattias Montgomery
  • Niclas Gehin
  • Nicolai Farstad Olsen
  • Nicolas McBeath
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Joachim Gunell

The weekly navigator

Key takeaways from last week: 1) Media speculation heating up regarding a possible listing of EQT (7% of Investor); 2) we downgraded Latour to HOLD (BUY) as its discount had taken a detour too far south since the Q2 results, and we found the valuation a little demanding for our taste; and 3) Bure’s strong Q3 report was awarded with the sector’s best performance.

Joachim Gunell

The weekly navigator

Highlights from last week include: 1) the market sell-off creating investment opportunities for the long-term holding companies we cover, as evident from Investor building its position in Electrolux; and 2) the Stenbeck sphere continues to reduce its ownership in Kinnevik.

Joachim Gunell

The weekly navigator

Highlights from last week include: 1) the market sell-off creating investment opportunities for the long-term holding companies we cover, as evident from Investor building its position in Electrolux; and 2) the Stenbeck sphere continues to reduce its ownership in Kinnevik.

Joachim Gunell

Weekly NAV update

The key highlights from last week include: 1) following its Q3 results, we upgraded our recommendation to BUY (HOLD) for Kinnevik; 2) Industrivärden built its positions in core holdings Volvo and Sandvik; and 3) Investor supports Saab’s planned rights issue. Our sector top picks are Investor, Kinnevik and Latour.

Joachim Gunell

Kinnevik (Buy, TP: SEK310.00) - Time to go online again

Following its recent underperformance versus the OMX, the upside potential in Kinnevik again looks attractive to us. With a portfolio in good shape and a discount to NAV of 15%, we believe the market is ascribing too little value to some of its promising growth stories, assuming Kinnevik can maintain its track record. Thus, we believe the shares are undervalued, and have upgraded Kinnevik to BUY (HOLD) with a new target price SEK310 (320) as we expect it to trade at a 10% discount to our 12-month forward NAV.

Alexander Aukner ...
  • Antti Kansanen
  • Christer Magnergård
  • Christoffer Wang Bjørnsen
  • Eivind Sars Veddeng
  • Håkon Astrup
  • Helge André Martinsen
  • Joachim Gunell
  • Jon Masdal
  • Jørgen Lian
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Arnell
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Mattias Montgomery
  • Niclas Gehin
  • Nicolai Farstad Olsen
  • Nicolas McBeath
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Antti Kansanen ...
  • Joachim Gunell
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Niclas Gehin
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Stefan Gauffin

Ability to grow profitably uncertain

An unfavourable environment weighs on KINNEVIK 'B', which sees a downgrade to Slightly Negative

The independent financial analyst theScreener just requalified the general evaluation of KINNEVIK 'B' (SE), active in the Specialty Finance industry. As regards its fundamental valuation, the title still shows 0 out of 4 stars and its market behaviour is seen as moderately risky. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Slightly Negative. As of the analysis date September 25, 2018, the closing price was SEK 271.60 and its target price was estimated at SEK 256.17.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Kinnevik AB - Proxy report 16/07/2018

In general, Investment AB Kinnevik ("Kinnevik") is in compliance with the Swedish regulations relating to the organisation and procedures of the Extraordinary General Meeting. ITEM 7 In order to successfully close the merger between Tele2 AB and Com Hem Holding AB (two of Kinnevik's portfolio companies) relevant pro-competitive measures (particularly on the Swedish television markets) are required by the European Commission. The board of directors therefore proposes to distribute all shares in portfolio company Modern Times Group AB ("MTG"). As a matter of principle, ECGS is generally suppo...

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