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

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

Joachim Gunell

The weekly navigator

Key takeaways from last week: 1) Investor is still our sector top-pick due to its best-in-class NAV growth outlook; 2) Kinnevik’s Q2 report was a step in the right direction but we remain cautious regarding its near-term risk/reward; and 3) DI reported that Lundbergs and Industrivärden are sceptical about the potential spin-off of Sandvik SMT.

Joachim Gunell

Kinnevik (Hold, TP: SEK260.00) - Peak discount yet still cautious

We still like the Kinnevik case long-term, but believe its discount to NAV could remain elevated (currently at 25%), as the market has yet to see proof that it is successfully executing on its strategic evolution. We see potential share price catalysts ahead of the CMD on 19 September, but are still cautious on the risk/reward; thus we reiterate our HOLD and SEK260 target price.

Joachim Gunell

Kinnevik (Hold, TP: SEK260.00) - Peak discount yet still cautious

We still like the Kinnevik case long-term, but believe its discount to NAV could remain elevated (currently at 25%), as the market has yet to see proof that it is successfully executing on its strategic evolution. We see potential share price catalysts ahead of the CMD on 19 September, but are still cautious on the risk/reward; thus we reiterate our HOLD and SEK260 target price.

Joachim Gunell

The weekly navigator

Key takeaways from last week: 1) Investor is still our sector top-pick due to its best-in-class NAV growth outlook; 2) Kinnevik’s Q2 report was a step in the right direction but we remain cautious regarding its near-term risk/reward; and 3) DI reported that Lundbergs and Industrivärden are sceptical about the potential spin-off of Sandvik SMT.

Joachim Gunell

Kinnevik (Hold, TP: SEK260.00) - Peak discount yet still cautious

We still like the Kinnevik case long-term, but believe its discount to NAV could remain elevated (currently at 25%), as the market has yet to see proof that it is successfully executing on its strategic evolution. We see potential share price catalysts ahead of the CMD on 19 September, but are still cautious on the risk/reward; thus we reiterate our HOLD and SEK260 target price.

Joachim Gunell

Kinnevik (Hold, TP: SEK260.00) - Peak discount yet still cautious

We still like the Kinnevik case long-term, but believe its discount to NAV could remain elevated (currently at 25%), as the market has yet to see proof that it is successfully executing on its strategic evolution. We see potential share price catalysts ahead of the CMD on 19 September, but are still cautious on the risk/reward; thus we reiterate our HOLD and SEK260 target price.

Joachim Gunell

The weekly navigator

Key takeaways from last week: 1) Investor divested Aleris and Memira; 2) Creades and Öresund’s NAVs both slightly underperformed the market in Q2; and 3) we believe Öresund could start share buybacks to shrink its 9% discount to NAV, as seen historically.

Joachim Gunell

The weekly navigator

The key takeaways from last week include: 1) we reiterated our HOLD on Industrivärden, as we believe we are still in neutral territory in terms of the valuation and potential upside; 2) Kinnevik-owned GFG fell 4% in its public debut week, confirming our cautious view on Kinnevik’s shares; and 3) we still believe digital health company Livongo’s potential IPO later this year could prompt a considerable valuation uplift for Kinnevik.

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

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

Northern Lights

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

Northern Lights

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

KINNEVIK 'B' sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of KINNEVIK 'B' (SE), a company active in the Specialty Finance industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date March 1, 2019, the closing price was SEK 233.20 and its potential was estimated at SEK 247.66.

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)

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 ...

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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