DOW JONES NEWSWIRES
Swedish investment company Industrivarden AB (INDU-A.SK) said
Wednesday it wants to be a long-term active owner in Swedish
truck-maker Volvo AB (VOLV-B.SK), and that its net asset value per
share dropped 39% since the start of the year to Sept. 30, as the
equity value of its holdings fell when declining stock markets
weighed on industrial companies.
MAIN FACTS:
-Net asset value per share as of Sept. 30 was SEK91, compared
with SEK149 at the start of the year.
-The equity portfolio fell in value to SEK52.2 billion on Sept.
30 from SEK71.1 billion at the start of the year.
-The total return fell 34% for Class A shares and 36% for Class
C shares during the first nine months.
-The comparative return index meanwhile fell 20%.
-Net profit
-In 3Q, it made net purchases of SEK1.2 billion. So far this
year, net purchases amount to SEK4.7 billion.
-In 3Q, another SEK1.3 billion were invested in Volvo, bringing
its total investment this year to SEK2.9 billion and corresponding
to about 15% of votes. This "clearly illustrates our ambitions as a
long-term active owner in a quality company with considerable value
potential," CEO Anders Nyren said.
-It also invested SEK1.1 billion in Svenska Handelsbanken AB
(SHB-B.SK) and SEK700 million in Sandvik AB (SAND.SK).
-Shares in Industrivarden closed at SEK67.40.
-By Anna Molin; Dow Jones Newswires; +46-8-5451-3103;
anna.molin@dowjones.com