INTERIM REPORT JANUARY–SEPTEMBER 2009
• The income after net financial items for the third quarter of 2009 amounted to SEK 43 (-37) million.
• The income after net financial items for the first nine months of 2009 amounted to SEK -69
• Cash-flow from current operations for the first nine months of 2009 amounted to SEK 85 (8) million and with funds from the sale of fixed assets, SEK 215 million has been used to pay down debt.
• On 10 July Rottneros paid off the entire existing bond loan of SEK 150 million. The effect of the transaction for Rottneros was that debt was written off thereby reducing the net debt by SEK 110 million which is reported under financial income.
• Maintenance shutdowns took place during the third quarter at Vallvik Mill and Rottneros Mill.
• After the end of the reporting period Rottneros announced that a new share issue amounting to SEK 225 million will be implemented in the fourth quarter of 2009 contingent upon a decision at the extraordinary shareholders’ meeting on 11 November. The company will also implement a new issue aimed at Rottneros’ bank syndicate which will involve offsetting loans equivalent to SEK 200 million.
• The balance on the pulp market between supply and demand has improved significantly and this has enabled prices to be increased.
• The company will not be providing a full year forecast for 2009.
Rottneros in brief
Rottneros, with its origins in the 1600s, is a non-integrated, flexible supplier of customised, high-quality paper pulp. Through continuous product development, high delivery reliability, technical support and service, Rottneros is able to adapt to meet the high expectations of its customers.
Rottneros has a total production capacity of 400,000 tonnes of pulp per year produced at two mills in Sweden. Increasingly intensive product development in line with customer demands will lead to higher and more stable profitability throughout an economic cycle.
(For full report see attached file.)