STOCKHOLM, Sweden, Oct. 21, 2002 (PRIMEZONE) -- Billerud:
Market demand continued to be good. Price rises for Billerud's packaging paper were implemented during the third quarter, with full impact on results in the fourth quarter.
The operating profit in the third quarter reached MSEK 354, up 41% on the previous quarter. The operating profit for the January-September period was MSEK 873, 16% down on the same period last year.
Results in the final quarter are expected to be at around the same level as the third quarter. Volumes will fall due to the major stoppage planned at Gruvon.
Production efficiency and delivery capability continued to be good. A maintenance stoppage was performed at Karlsborg during the third quarter. Deliveries during the first nine months of the year reached 987,000 tonnes, 10% up on the same period last year.
Currency hedging boosted results for the first nine months of the year by MSEK 185, of which MSEK 95 was in the third quarter.
Return on capital employed during the most recent 12-month period was 24%.
Billerud has bought back 4.83 million of its own shares, making a total of MSEK 441, which is equal to the available limit for share buy-back.
Following the dividend and the buyback of shares amounting to MSEK 661, good cash flow has helped to keep the debt/equity ratio unchanged during the first nine months of 2002.
A telephone conference in English will be held at 6 p.m. CET,call +44 20 8240 8246 at 17:55 CET
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