Bure Equity: Interim Report January -- March 2003

GOTHENBURG, Sweden, May 21, 2003 (PRIMEZONE) -- Bure Equity (Other OTC:BRVVF): the Board of Directors proposes that the Annual General Meeting of Bure approves issues totalling SEK 750M, of which SEK 600M is guaranteedby Sjatte AP-fonden and Bure's lenders. An agreement for a long-term credit limit of SEK 1,200M has been concluded with Bure's lenders.

- Net shareholders equity (net asset value) amounted to SEK 823M or SEK 7.90 per share at the period end.

- The parent company's result before write-downs and taxes amounted to SEK -49M (-24). The result after write-downs and taxes amounted to SEK -172M (-34).

- The fall of listed holdings in the stock market resulted in a write-down of SEK 123M during the period. At 20 May, however, the listed holdings had recovered SEK 95M of the write-down.

- 50 per cent of the holding in Innovationskapital's Fund III was sold. As a result of the sale, future undertakings are reduced by SEK 102M.

- Hakan Larsson took over as Chairman and Lennart Svantesson as President during March.

- The focus is on measures aimed at further increasing profitability in the portfolio companies.

Subsequent events

A plan for financial strengthening was outlined in a news release published on 7 April 2003.

An action programme has been initiated to reduce the parent company's administrative costs. During the second quarter, Bure will make a provision of SEK 20M for the implementation of the action programme.

In May, Bure divested an additional 25 per cent of its original holding in Innovationskapital's Fund III. As a result, 25 per cent of the original holding remains and Bure's remaining investment undertaking amounts to SEK 51M.


                                       3 months   3 months  Full-year
 Key figures, parent company, SEK M        2003       2002       2002
 Result after tax                        -172.2      -34.2   -2 279.1
 Equity per share, SEK                     7.90      31,38       9.55
 Market value, SEK                         2.50      32.50      10.40
 Total assets                           2 356.6    4 636.2    2 602.3
 Shareholders' equity                     822.6    3 319.5      994.8
 Equity ratio, %                           34.9       71.6       38.2

Telephone conference

At 8 am CET (GMT+1) on Thursday, 22 May 2003, a telephone conference will take place in Swedish with Bure's President, Lennart Svantesson, and Chief Financial Officer, Benny Averpil. Journalists and professionals in the capital markets are invited to take part. You can participate by telephoning +46 8 505 201 14, quoting 'Bure'. Please note that you must also dial the area code if you make a call within the Stockholm area.

Bure Equity: Interim Report January -- March 2003

Mot-clé