Investor AB Posts Negative 3Q Total Shareholder Return of 3%

By Dominic Chopping

STOCKHOLM--Investor AB on Thursday reported a negative total shareholder return of 3% in the third quarter of 2023, unchanged from last year's same period.

Investor's net asset value per share slipped to 216 Swedish kronor ($19.60) at the end of September from SEK220 at the end of June. On an adjusted basis, NAV per share stood at SEK248.

The company posted a net loss attributable to shareholders of SEK11.09 billion in the third quarter, from a profit of SEK8.37 billion a year earlier, following a sharp decline in the value of its investments.

"As a consequence of the uncertainties out there, it remains imperative for us and our companies to ensure high flexibility and the ability to react swiftly to rapid changes," Chief Executive Johan Forssell said.

"I believe that our companies are doing a good job balancing short-term efficiency focus with longterm initiatives."

Investor is the investment vehicle of Sweden's prominent Wallenberg family.

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

(END) Dow Jones Newswires

October 19, 2023 03:21 ET (07:21 GMT)

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