STOCKHOLM, Sweden, Oct. 29, 2003 (PRIMEZONE) -- Sveaskog conducts forestry and timber sales based on its holdings of approximately 3.5 million ha of productive forest land. The forestry operations also include property management as well as commercial activities relating to hunting, fishing and recreation. The forestry operations are conducted under the Sveaskog name. The Group also includes industrial operations in the form of cartonboard manufacture, AssiDoman Cartonboard. In addition, Sveaskog has a 50% stake in the sawmill group Royal Star Wood Products AB (Royal Star) which was formed on 1 July 2003.
Quarter January -
September
MSEK 2003 Q 3 2003 Q 2 2002 Q 3 2003 2002
Net sales 1,726 2,469 1,931 6,429 6,182
Operating profit 270 515 209 1,197 926
(of which gains from
property sales) (44) (73) (12) (152) (24)
Profit after
net financial items 152 375 61 802 567
Net profit for the 110 270 43 578 408
period
Earnings per share 0.93 2.28 0.36 4.88 3.44
(SEK)
- Operating profit for the third quarter amounted to MSEK 270, aseasonal decrease of MSEK 245 or 48% compared with the previous quarter,but an increase of MSEK 61 or 29% compared with the third quarter of2002.
- Compared with the previous quarter, earnings from Forestryoperations fell for seasonal reasons. Earnings for the cartonboardbusiness (Cartonboard) increased due to higher production and lowercosts. The reported share of profits (after net financial items) inRoyal Star was lower than the earlier operating profit in AssiDomanTimber. Gains from property sales decreased.Compared with January - September 2002, operating profit improved by29%. Forestry operations and Cartonboard increased their earnings.Earnings from the sawmill operations that are now part of Royal Staralso improved. These changes are mainly volume related, partly due toacquisitions. Gains from property sales increased substantially.
This interim report has not been reviewed by the company's auditors
Financial calendar
Year-end report January - December 19 February 2004
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