Kinnevik AB (publ) ("Kinnevik") today announced that it has committed to a follow-on investment of EUR 12m into Linio. In addition, Kinnevik published financial results for the first six months 2016 for Westwing and Home24.
In September 2016, Linio successfully raised EUR 50m of new funding, whereof Kinnevik has committed to invest EUR 12m. The funding round is implemented in several tranches and post implementation of all tranches, Kinnevik's ownership stake in Linio will have increased to 27% from the current 17%.
Summary financials for Westwing and Home24 can be found on the following pages of this press release. Both companies progressed substantially on their path to profitability during the first six months of 2016; Westwing improved its EBITDA margin by 23 percentage points compared to last year and Home24 by 11 percentage points. In September 2016, Home24 closed a funding round of EUR 20m, where Kinnevik invested EUR 2.8m alongside Baillie Gifford, Rocket Internet and other existing shareholders.
Rocket Internet will host a conference call today, 22 September 2016, at 10.00 CET to present the results of Rocket Internet and its main portfolio companies for the first six months of 2016. The presentation will be available on www.rocket-internet.com/investors and participants are welcome to join by phone using the below dial-in details:
DE: +49 69 222 229 043
UK: +44 203 009 2452
USA: +1 855 402 7766
PIN Code: 75549577#
For further information, visit www.kinnevik.com or contact:
|Torun Litzén, Director Investor Relations|| Phone +46 (0)8 562 000 83 |
Mobile +46 (0)70 762 00 83
 Not adjusted for management participations
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Kinnevik via Globenewswire