YEAR-END RELEASE 2003 · Net turnover for the full year amounted to SEK 5,660 (6,110) million. · The underlying operating result improved to SEK 854 (617) million. The operating profit, including write-downs of SEK 331 (0) million in the value of Korsnäs Packaging's fixed assets, restructuring costs of SEK 0 (27) million, and income from corporate development and capital gains on sales of securities of SEK 255 (755) million, amounted to SEK 778 (1,365) million. · Kinnevik's interest in the earnings of associate companies excluding write-downs and reversals of write downs amounted to a net gain of SEK 97 (-1,023) million. · Net result after taxes improved to SEK 3,731 (-4,109) million. · Earnings per share amounted to SEK 59.27 (-65.28). · The market value of the Group's holdings of listed securities increased during the year by 112% (excluding investments and disposals) and amounted to SEK 18,952 million at the end of the year. · The Board proposes to pay a cash dividend of SEK 5.50 (4.00) per share. ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download: The full report

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