24 June 2019
Today Interogo Holding AG presented its 2018 Annual Report. The businesses continued to grow during 2018 with an increase in total assets of 16% and in operating income of 6%.
“Despite a more complex market environment compared to 2017, Interogo Holding AG businesses have continued to deliver solid results. Our various investment businesses have taken advantage of a favourable window of opportunity in 2018 to successfully divest some of their investments. We have continued to steadily and carefully invest in our different asset classes, as we still have a positive outlook for our long-term investment strategy”, says Søren Hansen, CEO of Interogo Holding AG.
The investment income from Interogo Holding’s non-listed equity portfolio (participations of Nalka Invest AB and the non-listed equity portfolio managed by Inter Fund Management) together with the gains realized on the disposal of properties by real estate investment business, Vastint Group, reached EUR 453m (EUR 493m in 2017).
The other recurring operating income remained steady at EUR 476m (EUR 479m), benefitting from a 19% growth of rental income, essentially due to new deliveries of offices and hotels in the Vastint Group but was negatively impacted by the divestment of Svensk Markservice Group and Nordic Modular Group in the last quarter of the year.
The investment in tangible assets during 2018 amounted to EUR 492m (EUR 443m) while the net investment in financial assets reached EUR 204m (EUR 169m). Beside these EUR 204m of net investments in financial assets, Interogo Holding AG made a further investment of EUR 2,800m in the non-voting shares held in its sister company Inter IKEA Holding B.V., consistent with the purpose to secure the independence and longevity of the IKEA Concept.
The net profit for the year amounted to EUR 862m (EUR 1,816m). The decrease is explained by a lower level of dividend from Inter IKEA Holding B.V. which amounted to EUR 500m in 2018 (EUR 1,500m). The lower dividend and the capital contribution of EUR 2,800m has secured the Inter IKEA Group a strong capital base for its future development and growth.
Numbers in brief, EUR million
Operating result (EBIT)
Net Profit (attributable to shareholders of the parent company)
Shareholder’s equity (including the year’s result)
The Interogo Holding AG Annual Report 2018 can be ordered on the Interogo Holding website.
Interogo Holding AG
Interogo Holding AG group is an international investment business with its parent company based in Switzerland. The overall purpose of Interogo Holding AG group is to manage investments with the aim of creating financial stability and long-term value. This is to support the independence and longevity of our sole shareholder, Interogo Foundation, in its purpose to secure continuous improvement and a long life of the IKEA Concept.
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