Interim report January – March 2005
Strong financial position and freedom from debt
• The Parent Company’s reported equity after full exercise of outstanding warrants improved during the period by SEK 25M to SEK 2,075M (1,845). Equity per share increased to SEK 1.60 (1.43) after full dilution (discounted value).
• Consolidated operating profit was SEK 61M (112). The Group’s net profit for the first quarter amounted to SEK 23M (72), equal to earnings per share of SEK 0.05 (0.21) and SEK 0.02 (0.08) after full dilution.
• The Parent Company recorded a loss after tax of SEK -7M (16).
• In January Bure increased its holding in Carl Bro from 58 to 66 per cent. The purchase price was SEK 70M.
• In January Bure decreased its holding in Scribona from 35 to 23 per cent of the share capital. The net proceeds of the sale amounted to SEK 95M.
• In February Bure signed a new financing agreement and carried out early redemption the outstanding subordinate debentures on 31 March 2005.
• Bure raised SEK 100M through the exercise of warrants for subscription.
• On 12 April Bure obtained court permission to reduce its legal reserve by SEK 300M to enable the buy-back of listed warrants
• As of 25 April, Bure had raised an additional SEK 20M through the exercise of warrants for subscription to new shares.
• On 21 April Bure signed an agreement to sell its entire holding in Mölnlycke Health Care. Through the sale Bure will raise proceeds of around SEK 500M and an estimated exit gain of approximately SEK 330M. The sale is conditional on the approval of the affected competition authorities, which are expected to issue a decision in mid-June 2005.
Gothenburg 26 April 2005
Bure Equity AB (publ)
For additional information, please contact:
Mikael Nachemson, President
+46 31 708 64 20
Anders Mörck, CFO
+46 31 708 64 41
Johanna Pettersson, Corporate Communications
+46 31 708 64 49