New Risk • Jul 09
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 27% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (27% accrual ratio). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Board Change • May 21
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 6 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Marika Fredriksson was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 13
AB Industrivärden (publ) Approves Dividend AB Industrivärden (publ) announced that the AGM voted in favor of the proposal to pay a dividend of SEK 8.75 per share. April 15, 2026 was decided as the record date for the right to receive dividends. Announcement • Feb 07
AB Industrivärden (Publ) Proposes Dividend for the Year 2025 AB Industrivärden (publ) proposed a dividend of SEK 8.75 per share (8.25) for the 2025 financial year, with April 15, 2025, as the record date. In total, the proposed dividend amounts to SEK 3,779 million (3,563 milion). Announcement • Sep 09
AB Industrivärden (publ), Annual General Meeting, Apr 13, 2026 AB Industrivärden (publ), Annual General Meeting, Apr 13, 2026. Announcement • Feb 26
AB Industrivärden (publ) announces Annual dividend, payable on April 17, 2025 AB Industrivärden (publ) announced Annual dividend of SEK 8.2500 per share payable on April 17, 2025, ex-date on April 11, 2025 and record date on April 14, 2025. Announcement • Jan 28
AB Industrivärden (publ), Annual General Meeting, Apr 10, 2025 AB Industrivärden (publ), Annual General Meeting, Apr 10, 2025. Location: stockholm Sweden Announcement • Apr 12
AB Industrivärden (publ) Approves Dividend AB Industrivärden (publ) at its Annual General Meeting held on April 11, 2024, approved dividend of SEK 7.75 per share. April 15, 2024 was decided as the record date for the right to receive dividends. Announcement • Apr 11
AB Industrivärden (publ) Approves the Appointment of Fredrik Persson as New Director AB Industrivärden (publ) at its AGM held on April 11, 2024, approved the appointment of Fredrik Persson as new director. Upcoming Dividend • Apr 05
Upcoming dividend of kr7.75 per share Eligible shareholders must have bought the stock before 12 April 2024. Payment date: 18 April 2024. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.7%). Declared Dividend • Feb 12
Dividend of kr7.75 announced Shareholders will receive a dividend of kr7.75. Ex-date: 12th April 2024 Payment date: 18th April 2024 Dividend yield will be 27%, which is higher than the industry average of 6.4%. Sustainability & Growth Dividend is covered by both earnings (12% earnings payout ratio) and cash flows (55% cash payout ratio). The dividend has increased by an average of 3.5% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 02
AB Industrivärden (publ) Proposes Dividend for the Fiscal Year Ended December 31, 2023 AB Industrivärden (publ)'s board of Directors proposed a dividend of SEK 7.75 per share (SEK 7.25) for the fiscal year ended December 31, 2023. Announcement • Sep 28
AB Industrivärden (Publ) Announces Composition of Nominating Committee AB Industrivärden (publ) announced the composition of Nominating Committee. The Nominating Committee has the following composition: Bo Selling, L E Lundbergföretagen, Håkan Sandberg, Jan Wallanders and Tom Hedelius Foundation and others, Jan Svedjebrant, SCA Pension Foundations and others, Mikael Schmidt, Essity Pension Foundations and others, and Fredrik Lundberg, Chairman of the Board of Industrivärden. Announcement • Jun 20
AB Industrivärden (publ), Annual General Meeting, Apr 11, 2024 AB Industrivärden (publ), Annual General Meeting, Apr 11, 2024. Upcoming Dividend • Apr 11
Upcoming dividend of kr7.25 per share at 2.5% yield Eligible shareholders must have bought the stock before 18 April 2023. Payment date: 24 April 2023. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (2.7%). Buying Opportunity • Mar 17
Now 22% undervalued Over the last 90 days, the stock is up 1.7%. The fair value is estimated to be €30.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 55% over the last 3 years. Meanwhile, the company became loss making. Announcement • Feb 04
AB Industrivärden (Publ) Proposes Ordinary Dividend for the Year Ended December 31, 2022 AB Industrivärden (publ) Board of Directors proposed an ordinary dividend for the year ended December 31, 2022 of SEK 7.25 per share compared to SEK 6.75 paid a year ago. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Marika Fredriksson was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • May 12
Chairman of the Board recently bought €870k worth of stock On the 6th of May, Fredrik Lundberg bought around 38k shares on-market at roughly €23.07 per share. This was the largest purchase by an insider in the last 3 months. This was Fredrik's only on-market trade for the last 12 months. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Marika Fredriksson was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 15
Upcoming dividend of kr6.75 per share Eligible shareholders must have bought the stock before 22 April 2022. Payment date: 28 April 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (3.9%). In line with average of industry peers (2.4%). Upcoming Dividend • Apr 15
Upcoming dividend of kr8.25 per share Eligible shareholders must have bought the stock before 22 April 2021. Payment date: 28 April 2021. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (3.2%). In line with average of industry peers (2.0%). Is New 90 Day High Low • Mar 03
New 90-day high: €29.72 The company is up 12% from its price of €26.50 on 03 December 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is up 7.0% over the same period. Is New 90 Day High Low • Feb 04
New 90-day high: €29.60 The company is up 21% from its price of €24.42 on 05 November 2020. The German market is up 16% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Diversified Financial industry, which is up 27% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €34.24 per share. Is New 90 Day High Low • Jan 09
New 90-day high: €29.00 The company is up 23% from its price of €23.58 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €34.88 per share. Is New 90 Day High Low • Dec 23
New 90-day high: €27.38 The company is up 27% from its price of €21.60 on 24 September 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €34.24 per share. Is New 90 Day High Low • Nov 07
New 90-day high: €24.42 The company is up 14% from its price of €21.38 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is down 22% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €28.16 per share. Is New 90 Day High Low • Oct 10
New 90-day high: €23.58 The company is up 15% from its price of €20.44 on 10 July 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €28.17 per share. Announcement • Sep 14
AB Industrivärden (publ) to Report Fiscal Year 2020 Final Results on Feb 25, 2021 AB Industrivärden (publ) announced that they will report fiscal year 2020 final results at 8:12 AM, GMT Standard Time on Feb 25, 2021 
