Ratos reaps SEK 898m exit proceeds in Q1

The profits mark a substantial uptick compared to last year's net loss of SEK 3m in Q1. The latest result is largely attributed to the sale of Ratos's cable TV subsidiary Stofa to Danish energy and telecoms group Syd Energi for DKK 1.9bn in October 2012. The sale generated a net exit gain for Ratos of approximately SEK 850m and an IRR of approximately 55%.

However, its portfolio turnover decreased by 20% to SEK 5.5bn during Q1, compared to sales during last year's first three months.

Commenting on the quarterly report, Ratos CEO Susanna Campbell pointed to the somewhat weaker market conditions as an explanation for the decrease in turnover during the quarter.

Still, she maintained a positive outlook: "Overall, we haven't changed our cautiously optimistic view on 2013 and our baseline scenario is that markets will gradually stabilise during the year."

Ratos portfolio companies GS-Hydro, Finnkono and Aibel are developing according to plan despite low market activity, the report added.

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• Topics
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• Ratos Holding