Interim report January 1 - March 31, 2008 for the Scribona Group - Net sales for the first quarter reached SEK 1,903 million (2,180). - Operating profit for the first quarter was SEK -23 million (6). - Profit after tax for the first quarter amounted to SEK -36 million (-7), equal to earnings per share of SEK -0.44 (-0.09). - Net proceeds available to shareholders will be at least 5.60 SEK per share at the conclusion of the wind-down process. Subsequent events The transaction with Tech Data for the sale of Scribona's operating activities was approved by the EU Competition Authority on April 28 and by Scribona's stockholders at the AGM on April 29, 2008. The transaction was completed on May 19, 2008, after which Scribona no longer conducts operating business activities. Of the total preliminary purchase price of SEK 504 million, a first installment of SEK 76 million was received on May 19. Comments from Board Chairman David Marcus “The transaction with Tech Data has proceeded according to plan and as of May 19 Scribona no longer conducts any operating activities. The transfer of operations to Tech Data has been completed and Scribona has started an intensive effort to liquidate its assets, liabilities and contract obligations as efficiently as possible.” “The wind-down is expected to be largely completed during 2008 and will lead to the conversion of receivables and liabilities to cash and cash equivalents. The current expectation is that the net proceeds will be at least 5.60 SEK per share. In our interim reports we will give an account of how the wind-down and stockholder value are progressing,” says David Marcus, Chairman of Scribona. “In August, the Board intends to report on Scribona's future strategic course.” “Scribona's current CEO, Fredrik Berglund, will leave his post on June 1, 2008. Board member Lorenzo Garcia will be responsible for the transition process that lies ahead for Scribona, and will also take over the role of CEO. I would like to thank Fredrik for his valuable contributions on behalf of Scribona,” concludes David Marcus. For additional information, contact: David E. Marcus, Chairman of Scribona, telephone +1 908 378 2888 Fredrik Berglund, President and CEO, telephone +46 (0)8-734 37 39 Hans-Åke Gustafsson, Chief Financial Officer, telephone +46 (0)8-734 35 34 Scribona is listed on the OMX Nordic Exchange Stockholm and was the leading distributor of IT products on the Nordic market.
Interim report January 1 - March 31, 2008 for the Scribona Group
| Source: Catella AB