Holmen Interim Report January -- June 2005


STOCKHOLM, Sweden, Aug. 17, 2005 (PRIMEZONE) -- Holmen Interim Report January -- June 2005:


                        Quarter                 January-June    Full year
 MSEK            2-05      1-05      2-04      2005       2004       2004
 Net
 turnover       4,201     3,801     3,884     8,002      7,787     15,653
 Operating
 profit           449       364       460       813      1,032      1,952
 Profit
 after
 financial
 items            387       307       407       694        937      1,746
 Profit
 after tax        271       217       288       488        664      1,275
 Earnings
 per share
 (after
 dilution),
 SEK             3.20      2.56      3.40      5.76       7.89      15.12
 Return on
 equity, %        7.0       5.5       7.0       6.2        7.8        7.9

- The Group's net turnover for January-June amounted to MSEK 8,002 (January-June 2004: 7,787).

- The profit after tax amounted to MSEK 488 (664).

- Earnings per share after dilution amounted to SEK 5.76 (7.89). Return on equity was 6.2 % (7.8).

- The operating profit amounted to MSEK 813 (1,032). The decline is due to significant cost increases for input goods, lower paperboard production, and unfavourable currency effects. Higher prices for newsprint and magazine paper, however, have had a favourable effect on the result. In relation to the first quarter, the second quarter result improved by MSEK 85 to MSEK 449, mainly owing to higher deliveries of newsprint and magazine paper to Europe.

- Market conditions for newsprint and magazine paper in Europe have improved after a seasonally weak start to the year. Holmen Paper's deliveries were 2 % higher than in the first half of 2004. Prices were stable following the increases made at the beginning of the year.

Market conditions for virgin fibre-based paperboard in Europe remained stable. Iggesund Paperboard's deliveries were 2 % lower than during the first half of 2004. Prices were stable.

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