Investor AB Posts 1Q Total Shareholder Return of 9%

By Dominic Chopping

STOCKHOLM--Investor AB on Friday reported a total shareholder return of 9% in the first quarter of 2023 compared with a negative return of 9% in the same period the previous year.

Investor's net asset value per share rose to 208 Swedish kronor ($20.17) at the end of March from SEK197 at the end of December. On an adjusted basis, NAV per share stood at SEK236.

The company posted a net profit attributable to shareholders of SEK32.85 billion in the first quarter, from a SEK69.09 billion loss a year earlier, boosted by a sharp rise in the value of its investments.

"Supply-chain constraints are easing and our subsidiaries, with exposure to segments ranging from medical technology to automation, reported strong operational performance in the quarter," Chief Executive Johan Forssell said.

"Overall, I believe that Investor and our companies are in good shape and well prepared to handle different scenarios going forward," he said.

Investor is the investment vehicle of Sweden's prominent Wallenberg family and owns stakes in some of the country's largest companies, including telecom giant Ericsson AB, home appliance manufacturer Electrolux AB and lender Skandinaviska Enskilda Banken AB.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

April 21, 2023 02:52 ET (06:52 GMT)

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