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Investor Swings to Loss; Sees Higher Costs end of 2012

STOCKHOLM--Swedish investment company Investor AB (INVE-B.SK) Tuesday booked a 2% fall in net asset value per share at the end of second quarter compared with year end 2011 and said it expects somewhat higher costs at the end of the year then previously estimated. MAIN FACTS: -"During the quarter we have seen soft economic data around the globe and, as normally following a financial crisis, we should expect sub-par economic growth for an extended period [...] The increased integration of the global economy results in a synchronized slowdown," Chief Executive and President Borje Ekholm said. -Net asset value per share fell to SEK204 ($29.0) during the second quarter ending June 30, from SEK220 at the end of the first quarter. -The company reported a net loss of SEK6.97 billion in the second quarter compared with a net profit of SEK9.73 billion in the same quarter last year. -The company reported value increases since year-end in Swedish listed companies such as SEB AB (SEB-A.SK), Atlas Copco AB (ATCO-A.SK) and Electrolux AB (ELUX-B.SK), which offset value declines in companies such as Saab AB (SAAB-B.SK) and Ericsson (ERIC). -The company expects to receive dividends of SEK4.9 billion from listed companies in 2012, higher than previous estimates of SEK4.7 billion. -Following additional investments in the quarter, the company now owns 8.7% of Wartsila. -It is pooling its shares with the lead owner Fiskars Oyj (FIS1V.HE) in a joint company, and together they own 21.7% of Wartsila. -It increased its ownership in unlisted Molnlycke Health Care to 98% from 96%. -The investments increased leverage to 13.4% from 10.2% as of June 30. -The company has cut its staff by a third and in the fourth quarter expects to reach a sustainable annualized cost level of SEK360 million to SEK380 million, which is slightly higher than the target of close to SEK350 million at the end of 2012. -Shares closed at SEK135.40 on Monday. -Write to Jens Hansegard at [email protected] Order free Annual Report for AstraZeneca Plc Visit http://djnweurope.ar.wilink.com/?ticker=GB0009895292 or call +44 (0)208 391 6028 Order free Annual Report for Atlas Copco AB Visit http://djnweurope.ar.wilink.com/?ticker=SE0000101032 or call +44 (0)208 391 6028 Order free Annual Report for LM Ericsson Telefon AB Visit http://djnweurope.ar.wilink.com/?ticker=SE0000108656 or call +44 (0)208 391 6028 Order free Annual Report for Saab AB Visit http://djnweurope.ar.wilink.com/?ticker=SE0000112385 or call +44 (0)208 391 6028 Order free Annual Report for Atlas Copco AB Visit http://djnweurope.ar.wilink.com/?ticker=US0492557063 or call +44 (0)208 391 6028

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