STOCKHOLM, Sweden, July 20, 2004 (PRIMEZONE) -- Billerud:
This document is a translation of the original, published in Swedish. In cases of any discrepancies between the Swedish and English versions, or in any other context, the Swedish original shall have precedence.
Quarter January-June
2004 2004 2003
II I II 2004 2003
Net turnover, MSEK 1,764 1,820 1 3,584 3,575
731
Operating profit, MSEK 161 225 284 386 581
Operating margin, % 9 12 16 11 16
Profit after financial 140 205 266 345 542
items, MSEK
Net profit, MSEK 101 147 190 248 390
Earnings per share, SEK 1.91 2.73 3.30 4.64 6.75
. Operating profit during the January-June period reached MSEK 386, down 34% on the previous year. The fall was mainly due to lower prices and changed exchange rates. Deliveries amounted to 680 000 tonnes, up 6% on the previous year, in spite of larger maintenance stoppages.
. Compared with the first quarter the operating profit was down 28% or MSEK 64. The maintenance stoppages in Gruvon and Skarblacka had a negative impact on profit with MSEK 80.
. The profit after financial items was MSEK 345 and the return on capital employed over the past 12 months was 20%. Excluding the effects of currency hedging the return was 11%.
. The operating cash flow was MSEK 391, up MSEK 80 on the same period in 2003.
. The Board has decided to continue buying back Billerud shares.
. Billerud's profit after financial items is expected to be around MSEK 800 for 2004, compared to MSEK 1,042 during 2003. Changes in currency rates explains around MSEK 250 of the difference.
Billerud's CEO Bert Ostlund will present the Financial Statement live at a press conference today at 3 pm CET. Location: Sparvagnshallarna, Birger Jarlsgatan 57 A, Stockholm
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