Report on Final Accounts for 1999

Report on Final Accounts for 1999 Result according to forecast * The loss on current operations MSEK -61 (-29), forecast MSEK -55 to -65 * SOL dedicated liner shipping company - reefer shipping wound up in December. Capital loss of MSEK 133 * New MSEK 50 share issue completed in February, 2000 Consolidated income statement All figures in MSEK 1999 1998 Shipping sales 630 771 Operating and administrative costs -552 -649 Personnel costs -34 -38 Proportion of associated company -1 -1 OPERATING PROFIT BEFORE DEPRECIATION 43 83 Depreciation -70 -74 OPERATING PROFIT AFTER DEPRECIATION -27 9 Net financial items -34 -38 PROFIT AFTER NET FINANCIAL ITEMS -61 -29 Sale of fixed assets -133 - Write down of vessels - -173 Actual tax - -1 Deferred tax 24 14 NET PROFIT -170 -189 Consolidated result The loss for the year on current operations was MSEK -61 (-29) . The loss for the year is entirely related to reefer shipping, while liner shipping posted a profit. The winding up of the reefer shipping operation resulted in a capital loss of MSEK 133 on the sale of the reefers. Shipping sales per business area ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/02/24/20000224BIT01070/bit0001.doc The full report http://www.bit.se/bitonline/2000/02/24/20000224BIT01070/bit0002.pdf The full report

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