STOCKHOLM, Sweden, October 15, 2002 (PRIMEZONE) -- OM AB (Other OTC:OMGPF):
Highlights
-- Revenue totaled SEK 1,996 m (2,239)
-- Income before depreciation was SEK 274 m (-107)
-- Income after financial items amounted to SEK 11 m (-613)
-- Earnings per share at SEK -0.02 (-1.57)
-- Continued weak markets
-- Substantially reduced costs
-- Decision taken to close Jiway
"We have continued to adapt our operations to address tough market conditions. Since the launch of our first cost-efficiency program in Spring 2001, we have increased operational efficiency significantly and reduced our total operating costs with around SEK 1 billion on an annual basis. Compared to the same period last year, the company's revenue has decreased by 11 percent at the same time as we have reduced costs by 19 percent," said Per E. Larsson, President and CEO, OM.
Enclosed you will find OM AB's Interim Report, January - September 2002. It is also available on www.om.com.
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