STOCKHOLM, Sweden, April 29, 2002 (PRIMEZONE) -- Holmen:
Quarter Full
year
1-02 4-01 1-01 2001
Net turnover MSEK 3,938 4,343 4,116 16,655
Operating profit
excl. items
affecting
comparability MSEK 743 791 703 3,066
Operating profit MSEK 743 171 703 2,446
Profit after
financial items MSEK 705 128 699 2,294
Earnings per share SEK 6.20 2.80 6.10 27.30
Return on equity % 14.4 6.5 13.4 16.0
- The profit after financial items amounted to MSEK 705 (2001 Q1: 699).
The first quarter of this year includes a profit of MSEK 110 on the
sale of the paper machine that has been replaced at the Hallsta Paper
Mill. The profit for the fourth quarter of 2001 was MSEK 748
(excluding items affecting comparability).
- Net turnover amounted to MSEK 3,938 (4,116). Net turnover for the
fourth quarter was MSEK 4,343.
- The operating profit amounted to MSEK 743 compared with MSEK 703 for
the first quarter of 2001.
- The profit after tax was MSEK 499 (490), which corresponds to earnings
per share of SEK 6.20 (6.10). The return on equity was 14.4 per cent
(13.4).
- The market for newsprint and magazine paper remained weak. The prices
of Holmen Paper's products were lower than in the fourth quarter of
2001. Production was restricted due to replacement of the paper machine
at the Hallsta Paper Mill and lower demand.
The market for paperboard remained weak and Iggesund Paperboard's production was restricted. Prices were stable.
BUSINESS AREAS
Holmen Paper
The market for newsprint and magazine paper remained weak during the first quarter. Deliveries of standard newsprint to Western Europe were 11 per cent lower than in the corresponding period last year.
Holmen Paper's deliveries declined by 12 per cent in relation to the fourth quarter. Production was restricted due to the replacement of the paper machine and lower demand. The prices of Holmen Paper's products, which are largely based on annual contracts, were lower than in the fourth quarter of 2001.
The operating profit for the January-March period was MSEK 470 (495). The result was adversely affected by lower prices and lower volumes, which was partly offset by positive currency effects. The first quarter includes a profit of MSEK 110 on the dismantling and sale of the old machine in connection with the installation of the new paper machine at the Hallsta Paper Mill.
The profit declined by MSEK 98 in relation to the fourth quarter of 2001. Apart from the effects of changing paper machine, lower prices and lower delivery volumes had an effect on the result.
Quarter Full
year
Holmen Paper 1-02 4-01 1-01 2001
Net turnover MSEK 1,894 2,283 2,041 8,757
Operating profit MSEK 470 568 495 2,410
Operating margin % 25 25 24 28
Return on operating 20 24 23 26
capital %
Production 1,000
tonnes 362 387 394 1,586
Deliveries 1,000
tonnes 345 394 369 1,525
Iggesund Paperboard
The market for paperboard remained weak during the first quarter. West European producers' deliveries of virgin fibre-based paperboard were 1 per cent lower than in the first quarter of 2001. In relation to the fourth quarter of 2001, deliveries rose by 7 per cent, mainly due to normal seasonal variations.
Iggesund Paperboard's deliveries increased in relation to the fourth quarter but production restrictions were continued. Prices were stable.
The operating profit for the January-March period amounted to MSEK 186 (142). The improvement in the result was due to higher delivery volumes and lower costs.
The profit increased by MSEK 76 in relation to the fourth quarter of 2001 due to slightly higher delivery volumes in the first quarter and relatively high costs in the fourth quarter.
Quarter Full
year
Iggesund Paperboard 1-02 4-01 1-01 2001
Net turnover MSEK 1,205 1,181 1,102 4,467
Operating profit MSEK 186 110 142 455
Operating margin % 15 9 13 10
Return on operating 17 9 11 9
capital %
Production,
paperboard
1,000 tonnes 106 106 106 403
Deliveries,
paperboard
1,000 tonnes 110 106 104 410
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