Kinnevik AB (OTCPK:KNVKF) Q3 2024 Results Conference Call October 16, 2024 4:00 AM ET
Company Participants
Georgi Ganev – CEO
Samuel Sjöström – CFO
Torun Litzen – Director of Corporate Communications
Conference Call Participants
David Johansson – Nordea Markets
Linus Sigurdson – DNB Markets
Andreas Joelsson – Carnegie
Derek Laliberte – ABG Sundal Collier
Bharath Nagaraj – Cantor Fitzgerald
Fredrik Andersson – HandelsWatch
Georgi Ganev
Good morning, everyone, and welcome to the presentation of Kinnevik’s results for the third quarter 2024. I’m Georgi Ganev, Kinnevik’s CEO. And with me today is our CFO, Samuel Sjöström; and our Director of Corporate Communications, Torun Litzen. On today’s call, we will walk you through the key events during the quarter, including our most recent investment activity.
I will also give you an update on our 2 most recent investments in Spring Health and Aira.
Samuel will then cover our financial position and the development of our net asset value. Finally, I will show you the agenda for our upcoming Capital Markets Day next week. And as usual, we will end up with a Q&A. So let’s start on Page 4. The third quarter marks the completion of the Kinnevik transformation that we have been driving for the past 6 years.
With the last step of the Tele2 transaction concluded, we enter our next phase with a strong financial position and a growth-focused portfolio with a high-performing core and several exciting early-stage companies, with the potential to create significant outcomes.
Over the last quarters, we have seen encouraging development in our core companies, now representing more than half of our portfolio, up from 30% at the end of 2022. However, we have also had several disappointments that have clouded this strong development in our core, and we regret to bring you another downward valuation revision in the non-core part of the
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