European Event-Driven Analyst

Jesus Rodriguez Aguilar

Jesús is an Insight Provider (Event-driven) on the Smartkarma network, where he looks across sectors at opportunities arising from securities mispricing (both credit and equity), share classes, bid announcements, prospective bids, and special situations. He has served as Economic and Business Advisor at the Spanish Congress in Madrid. Prior to that, he has worked in the City of London: as a Credit Analyst at Bloomberg; Event-driven associate at former boutique European Research; and doubled as Special Situations and Equity-linked VP (convertible bonds) at Merrill Lynch. Jesús has an MBA from the London Business School, a BA (Hons.) degree in Economics from the Complutense University in Madrid, and a BA (Hons.) in Law from U.N.E.D., also in Madrid.

Industrivärden's Q3: NAV Evolution, (Low) Discount, Target NAV, Replication

Industrivärden's FY 2024: NAV Evolution, Discount, Target NAV, Replication

Selected European HoldCos and DLC: January 2025 Report

Selected European HoldCos and DLC: 2024 Report

Event-Driven

<ul>
<li>Industrivärden offers cost-efficient, long-term exposure to Swedish industrial blue chips, with a high-quality balance sheet and 21% upside potential to our NAV-based target price of SEK 380.2.</li>
<li>While the portfolio remains concentrated in five core holdings, recent underperformance has opened a value gap; Volvo and Sandvik remain key drivers of upside in a cyclical rebound.</li>
<li>The current 5.5% NAV discount is below historical norms, but insider buying and improved fundamentals suggest scope for re-rating as market sentiment stabilizes around Industrivärden’s core assets.</li>
</ul>


Industrivärden offers cost-efficient, long-term exposure to Swedish industrial blue chips, with a high-quality balance sheet and 21% upside potential to our NAV-based target price of SEK 380.2.
While the portfolio remains concentrated in five core holdings, recent underperformance has opened a value gap; Volvo and Sandvik remain key drivers of upside in a cyclical rebound.
The current 5.5% NAV discount is below historical norms, but insider buying and improved fundamentals suggest scope for re-rating as market sentiment stabilizes around Industrivärden’s core assets.


Industrivärden's Q1 2025: NAV Evolution, Discount, Target NAV, Replication

Industrivarden

Industrivärden's Q1 2025: NAV Evolution, Discount, Target NAV, Replication