STOCKHOLM, Sweden, May 7, 2003 (PRIMEZONE) -- Holmen:
Quarter Full year
MSEK 1-03 4-02 1-02 2002
Net turnover 4,001 4,120 3,938 16,081
Operating profit 635 638 743 2,713
Profit after financial items 581 611 705 2,564
Profit after tax 389 436 499 1,959
Earnings per share (before dilution), 4.86 5.46 6.20 24.50
SEK
Earnings per share (after dilution), SEK 4.69 5.25 6.00 23.58
Return on equity, % 10.3 11.7 14.4 13.7
- The Group's profit after financial items for January-March was MSEK 581 (January-March 2002: 705). Holmen Paper's operating profit declined by MSEK 284, while Iggesund Paperboard's operating profit increased by MSEK 88.
In relation to the fourth quarter of 2002 the result declined by MSEK 30. Holmen Paper's result declined by MSEK 151, while the results of Iggesund Paperboard and Holmen Kraft rose by MSEK 64 and MSEK 110 respectively.
- The profit after tax amounted to MSEK 389 (499), which corresponds to earnings per share of SEK 4.86 (6.20). The return on equity was 10.3 per cent (14.4).
- Market conditions for newsprint and magazine paper were weak during the first quarter, but have stabilised. Holmen Paper's production has continued to be restricted. Prices declined on average by some 10 per cent in relation to the previous quarter.
Market conditions for paperboard were stable during the quarter, with sustained firm demand outside Western Europe. Iggesund Paperboard's deliveries rose and capacity utilisation was high. Prices were stable following the increases implemented during the fourth quarter.
For further information please contact: Goran Lundin, President and CEO tel +46 8 666 21 33 Anders Almgren, CFO tel +46 8 666 21 16 Christer Lewell, Public Relations Director tel +46 8 666 21 15
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