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

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...

Joachim Gunell

Still in fashion

Kinnevik’s Q3 results were relatively free of surprises and confirmed the attractive mix of stable TMT cash generators combined with fast-growing digital investments; these are well-positioned to continue creating value for shareholders, in our view. We reiterate our BUY recommendation and have raised our target price to SEK310 (300) as we expect the current 17% discount to NAV to narrow to 10%.

Joachim Gunell

Weekly NAV update

Sector highlights from last week include: 1) continued high discounts in both Industrivärden (DNBe 16.3%) and Latour (DNBe 9.8%), lending some valuation support; 2) we have updated our target price on Lundbergs to SEK305 (615) on the back of its 1:1 bonus issue and our renewed portfolio view; and 3) the Swedish administrative court of appeal ruled against Investor’s interest rate deduction for its internal loans. Our sector top picks remain Investor and Kinnevik.

Joachim Gunell

Weekly NAV update

Sector highlights from last week include: 1) Lundbergs’ Q1 results, which contained no surprises; 2) Latour’s shares performing strongly on the back of an article in DI indicating a buying opportunity; 3) Kinnevik holding GFG delivering on its profitability journey; and 4) Industrivärden COB Fredrik Lundberg continuing to build his position in the company. Our sector top picks remain Investor and Kinnevik.

Joachim Gunell

Weekly NAV update

Key takeaways from last week are: 1) slight market underperformance across the sector resulted in higher discounts; 2) New CEO at Investor holding Permobil; and 3) Kinnevik holding Qliro soaring 27% on news that it will split its divisions into three individual companies. Our sector top picks remain Investor and Kinnevik.

Joachim Gunell

Still in fashion

Kinnevik’s Q3 results were relatively free of surprises and confirmed the attractive mix of stable TMT cash generators combined with fast-growing digital investments; these are well-positioned to continue creating value for shareholders, in our view. We reiterate our BUY recommendation and have raised our target price to SEK310 (300) as we expect the current 17% discount to NAV to narrow to 10%.

Joachim Gunell

Weekly NAV update

Sector highlights from last week include: 1) continued high discounts in both Industrivärden (DNBe 16.3%) and Latour (DNBe 9.8%), lending some valuation support; 2) we have updated our target price on Lundbergs to SEK305 (615) on the back of its 1:1 bonus issue and our renewed portfolio view; and 3) the Swedish administrative court of appeal ruled against Investor’s interest rate deduction for its internal loans. Our sector top picks remain Investor and Kinnevik.

Joachim Gunell

Weekly NAV update

Sector highlights from last week include: 1) Lundbergs’ Q1 results, which contained no surprises; 2) Latour’s shares performing strongly on the back of an article in DI indicating a buying opportunity; 3) Kinnevik holding GFG delivering on its profitability journey; and 4) Industrivärden COB Fredrik Lundberg continuing to build his position in the company. Our sector top picks remain Investor and Kinnevik.

Joachim Gunell

Weekly NAV update

Key takeaways from last week are: 1) slight market underperformance across the sector resulted in higher discounts; 2) New CEO at Investor holding Permobil; and 3) Kinnevik holding Qliro soaring 27% on news that it will split its divisions into three individual companies. Our sector top picks remain Investor and Kinnevik.

Joachim Gunell

Weekly NAV update

Key takeaways from last week: 1) Kinnevik keeps a leading position in the consolidation of the Nordic TMT sector as it will distribute MTG (5% of its portfolio) to its shareholders to expedite the Tele2/Com Hem merger, which was the market appreciated, sending the shares up 5% last week; 2) narrowing discounts in Investor and Kinnevik; and 3) Investor completed the acquisition of Piab.

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

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

Alexander Aukner ...
  • Joachim Gunell
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Mats Bye
  • Mattias Montgomery
  • Ole-Andreas Krohn
  • Simen Mortensen
  • Stefan Gauffin

Northern Lights

Eivind Sars Veddeng ...
  • Joachim Gunell
  • Ole-Andreas Krohn
  • Stefan Gauffin

Northern Lights

Christer Magnergård ...
  • Eivind Sars Veddeng
  • Joachim Gunell
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Arnell
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Simen Mortensen
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

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...

The loss of a fundamental star by KINNEVIK 'B' does not prevent it from improving to an overall Slightly Positive

KINNEVIK 'B' (SE), a company active in Specialty Finance, improves its general evaluation despite the loss of a fundamental star(s). The independent financial analyst theScreener has removed a fundamental star(s) from the title, which now shows 3 out of 4 stars; conversely, its market behaviour remains table and can be still described as moderately risky. The loss of a star(s) core is inconsequential since theScreener revises upgrades the general evaluation of the value to Slightly Positive. As of the analysis date August 23, 2019, the closing price was SEK 256.60 and its potential was estimat...

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...

Expert Corporate Governance Service (ECGS)

Investment AB Kinnevik - AGM 06 May 2019

In general, Investment AB Kinnevik ("Kinnevik") is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEMS 15a-15f, the (re-)election of the board of directors is proposed. In view of concerns over aggregate time commitments, ECGS recommends to vote OPPOSE to the (re-)election of: Mr. Henrik Poulsen (ITEM 15c) and Ms. Charlotte Strömberg (ITEM 15d). Under ITEM 19a, the board of directors seeks approval of a LT incentive plan. Although ECGS has no concerns over the LT incentive plan as such, it does not approve of the ...

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