Ratos receives dividend of SEK 150m from KVD Kvarndammen
This information is disclosed in accordance with the Securities Markets Act, the Financial Instruments Trading Act or demands made in the exchange rules.
Ratos has decided to refinance the subsidiary KVD Kvarndammen, whereby Ratos will receive a dividend of approximately SEK 150m. The refinancing has been made possible by the strong development of the company's operations and cash flow since the acquisition, as well as the divestment of properties.
KVD Kvarndammen is Sweden's largest independent online market place offering broker services for capital goods. The company, which was founded in 1991, runs kvd.se where cars, heavy vehicles and machines are offered for sale at weekly online auctions. The number of unique visitors totals approximately 200,000 per week. The company includes Sweden's largest valuation portal for cars, bilpriser.se. In 2011, KVD Kvarndammen's sales totalled SEK 276m and operating profit (EBITA) amounted to SEK 52m. The company has approximately 170 employees.
Ratos's CEO, Susanna Campbell, comments: "KVD Kvarndammen has developed very well since we acquired the company in autumn 2010. In 2012, the company has sold two properties, leading to a substantial reduction in the company's net debt. Continued positive prospects and stable cash flows mean that we can carry out this refinancing and dividend while retaining a balanced capital structure in the company."
Ratos will receive a dividend of approximately SEK 150m which will be paid in December. Ratos's consolidated book value for KVD Kvarndammen will be adjusted downwards by a corresponding amount. The refinancing will not affect earnings for the Ratos Group. Ratos's holding in KVD Kvarndammen amounts to 100% and Ratos originally invested SEK 363m in the company in 2010.
For further information, please contact: Susanna Campbell, CEO Ratos, +46 8 700 17 00 Emma Rheborg, Head of Corporate Communications and IR, +46 8 700 17 00
Financial calendar from Ratos:
Year-end report 2012 15 February 2013
Annual General Meeting 2013 17 April 2013
Interim Report January - March 2013 8 May 2013
Interim Report January - June 2013 15 August 2013
Interim Report January - September 2013 8 November 2013
Ratos is a private equity conglomerate. The company's mission is to maximise shareholder value over time through the professional, active and responsible exercise of its ownership role in primarily medium to large unlisted Nordic companies. Ratos's holdings include AH Industries, Arcus-Gruppen, Biolin Scientific, Bisnode, Contex Group, DIAB, Euromaint, Finnkino, GS-Hydro, Hafa Bathroom Group, HL Display, Inwido, Jøtul, KVD Kvarndammen, Mobile Climate Control, SB Seating and Stofa. Ratos is listed on Nasdaq OMX Stockholm and market capitalisation amounts to approximately SEK 21 billion.