The impressive share price performance exhibited by three of Industrivärden’s largest assets (Sandvik, Volvo and Essity) have driven the solid +35% NAV growth achieved during the year. The company’s investments were focused on its top performers in 2019 but, come 2020, we see that the strengthened financial position (debt/equity ratio at a low of 3%) would allow Industrivärden to pursue sizeable new investments.
