Highlights * Lorenzo Grabau assumed the role of CEO of Kinnevik on 1 May. Kinnevik will focus on building a select number of leading digital consumer brands through key partnerships around the world. * Compared to the first half of 2013, Kinnevik's proportional share of its investee companies' revenues grew by 10% with E-commerce & Marketplaces growing 38%. * Based on preliminary numbers for the first half of 2014, Zalando reached revenues of EUR 1,020-1,060m and recorded an operating profit during the second quarter, resulting in an operating result around breakeven for the first half of 2014. * In May, Bigfoot I and Bigfoot II shares were transferred from Rocket Internet to Kinnevik, increasing its direct ownership by 5.5% in Bigfoot I and 4.6% in Bigfoot II. * In June, Rocket Internet's legal form was transformed into a German stock corporation (AG). * On 30 June, Kinnevik had a net cash position of SEK 1.1bln in the parent company. Revised guidance for new investments for the full year 2014 is SEK 1.0-1.5bln. * Kinnevik was included in the OMXS30 index on 1 July. Q2 * The net asset value increased during the quarter by 4% corresponding to SEK 2,326m, after a dividend paid of SEK 1,941m, and amounted to SEK 68,509m at the end of June, corresponding to SEK 247 per share. * The increase in net asset value was driven by a positive change in fair value of SEK 5,325m related to the unlisted holdings and a negative change in fair value of SEK 775m related to the listed holdings, net of dividends received. * Profit per share amounted to SEK 15.02 (0.62). * New investments amounted to SEK 140m, of which SEK 132m into E-commerce & Marketplaces. * The share price increased 19% to SEK 284.80 at the end of June. H1 * The net asset value increased during the first half year by SEK 2,982m. * Profit per share amounted to SEK 17.52 (loss of 5.21). * New investments amounted to SEK 616m, of which SEK 514m into E-commerce & Marketplaces. [HUG#1830270]
Kinnevik : Interim Report 1 January - 30 June 2014
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