STOCKHOLM, Sweden, Aug. 5, 2004 (PRIMEZONE) -- Skandia's result is affected by external factors such as changes in the stock market and interest rates. Future revenues, which are based on fund values, increase or decrease as a result of these factors.
According to information presented in conjunction with the interim report for the first quarter of 2004, a 1% increase in the stock market would have a one-time effect on the operating result of SEK +82 million and a 1% decrease would have a one-time effect on the operating result of SEK -99 million.
Financial effects during the first quarter of 2004 were positive in the amount of SEK 481 million. During the second quarter of 2004, financial effects are expected to be negative and are estimated to be in the range of SEK -200 million to SEK -300 million.
Discontinued operations
To facilitate comparisons, figures in the group overview will be reported excluding discontinued operations. This means that the capital gain from the sale of the Japanese operation is not included in the operating result.
Comparison figures
In connection with the reporting for the first quarter of 2004, all tables with a geographic breakdown are adapted to the new organisational structure that was presented in a press release on 16 April 2004. The appended tables on pages 2 and 3 of this release show the comparison figures according to the new breakdown.
Skandia's interim report for the second quarter of 2004 will be released on 13 August 2004.
For further information, please contact: Harry Vos, Head of Investor Relations, tel. +46-8-788 3643
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The following files are available for download:
http://www.waymaker.net/bitonline/2004/08/05/20040805BIT20080/wkr0001.pdf
The full press release