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Based on our investment result and our donations, Lind Invest generated a profit after tax of DKK -858m for 2022.

In 2022, we reached an important milestone within the social responsibility area with the establishment of Lind Foundation. With their own organisation, they have execution power and financial muscles to do more than ever within donations to the social area and disadvantaged people. In the Fiscal year, Lind Invest donated DKK 138m to Lind Foundation and DKK 250m to Project Kongelunden, which emphasizes our high ambitions in this area.

Without the inclusion of our donations to Lind Foundation and Project Kongelunden, our result after tax is DKK -470m.

For more on the performance and highlights of 2022, read the  Annual Report here.

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During the past 10 years, Lind Invest has supported and partnered with social organisations and projects by exploring which social efforts create the best value for people and being curious about how to identify them by using impact measurements. With Lind Foundation these efforts will now be accelerated.

Lind Foundation will be focusing on five areas: education, employment, mental health, housing, and sustainable livelihoods through support to and partnerships with organisations and projects in both Denmark and internationally.

The foundation is committed to improve living conditions, increase opportunity, generate positive social and societal impact — by empowering people regardless of differences to lead their own change. By utilising the latest methodologies and leveraging knowledge within the social return on investment method (SROI) Lind Foundation drives social and societal change.

Read more about Lind Foundation.

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Lind Invest generated profit after tax of DKK 1,817m for 2021, and equity increased by 27%. We consider the performance highly satisfactory in both absolute and relative terms.

The performance in 2021 found support in the adjustments we made to the strategy in the autumn of 2019, as we have shifted our investment focus from relatively small positions to larger, fewer and more liquid positions. Driven by these focal points and our strong belief in our portfolio companies, our investment portfolio outperformed our benchmark by a wide margin in what was a rather volatile year.

Operationally and organisationally, we continued making our operational setup stronger – both in our decision making in investment processes, and in our trading and risk management as well as in our control systems. This work will continue inten­sively in 2022.

For more on the performance and highlights of 2021, read the Annual Report here.

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The donation commitments are based on the analyses and pre-studies during the past two years in accordance with the criteria defined in the letter of intent from December 2019. With the agreement, the framework is now in place to realise the visions of the stadium and its surrounding areas.

Read more about the agreement in the press release (in Danish):
Samarbejdsaftale sikrer Kongelundens fremdrift og fremtid

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2019 was an eventful year for Lind Invest, driven by the sale of Danske Commodities to Equinor. The deal was closed in the first month of 2019 and had a significant effect on the company’s cash position.

Due to the divestment of Danske Commodities, our investment portfolio grew massively – from DKK 3.4 billion at the start of 2019 to DKK 6.1 billion at end of the year. Lind Invest recorded profit after tax of DKK 3.1 billion in 2019, which is considered satisfactory. The performance was driven by the sale of Danske Commodities, which accounted for 86% of the profit, while 14% derived from returns on investment activities.

Moreover, divestments of Skjern Bank and Arkil later in 2019 marked a shift in our investment strategy and rebuild our portfolio. As a result, we now have a portfolio consisting of fewer but more liquid investments and focused on the Nordics in a combination with external mandates.

For more on the performance and highlights of 2019, read the Annual Report here.

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Read the press release here (in Danish):
Potentiel kæmpedonation: Aarhus kan få 500 millioner kroner til nyt stadion

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“With this offer, we are pleased to realise a very satisfactory return on our investment in Arkil”, Chief Investment Officer, Kasper Herrestrup, states.

Announcement in Danish:

Lind Invest har afgivet forhåndstilsagn om salg af alle sine aktier I Arkil Holding A/S

Lind Invest erhvervede i 2013 en betydelig ejerandel i Arkil Holding A/S og har siden været den største eksterne aktionær i selskabet. Lind Invest har, som offentliggjort i meddelelsen fra J2A Holding, afgivet forhåndstilsagn om at acceptere det kommende tilbud på B-aktierne i Arkil Holding.

“Vi er glade for, at vi med tilbuddet, såfremt det gennemføres, kan realisere et meget tilfredsstillende afkast på investeringen i Arkil”, udtaler Chief Investment Officer, Kasper Herrestrup.

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2018 was a historic year for Lind Invest, driven by the announcement of the transfer of own­ership in Danske Commodities to Equinor.
The sale will mark a shift in the composition of assets in Lind Invest, and we are ready for the new situation, which leaves our investment strategy and ap­proach unchanged.

The Group generated profit after tax of DKK 344.2 million in 2018, where Danske Commodities performed record-high and Lind Capital performed well.

Financial markets were volatile in 2018 and our investment portfolio generated a negative return in 2018, while markets and our internal benchmarks recorded significantly larger losses.

The financial portfolio benefitted from our investment philosophy by having exposure to companies with strong market positions, attractive valuations and strong free cash flow generation.
Since Lind Invest began our current investment strategy, the financial portfolio has delivered annual returns above our long-term strategic target, but 2018 detracted from our overall track record.

Lind Invest’s culture is based upon seeing opportunities where others don’t and on striking the right balance between analysis and execution. We all realise we need to develop, learn and adapt to change, which is one of the key drivers of our histori­cal results. These abilities will be very important for the future success of Lind Invest.

With the internal capabilities and the external market opportunities, Lind Invest stand well prepared for the next journey and for 2019, and we are confident we will explore and are prepared to assess and execute on new opportunities.

Read the 2018 Annual Report here.

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