Interim Report January - June 2001

INTERIM REPORT JANUARY - JUNE 2001 HIGHLIGHTS The operating profit amounted to MSEK 1,366, (corresponding period 2000: MSEK 1,186 excluding items affecting comparability and divested activities). The second quarter operating profit was MSEK 663 compared with MSEK 703 for the first quarter. Profit after financial items amounted to MSEK 1,309 (1,110 excluding items affecting comparability and divested activities). The profit for the second quarter was MSEK 610 compared with MSEK 699 for the first quarter. Profit for the period after tax amounted to MSEK 917 (1,332), which corresponds to earnings per share of SEK 11.50 (15.00). The return on equity was 13.5 (16.6) per cent. The market for newsprint and magazine paper was stable during the second quarter. However, the market for coated magazine paper weakened. The market for paperboard remained weak. The prices of newsprint and magazine paper as well as paperboard were stable. NET TURNOVER AND RESULT Net turnover amounted to MSEK 8,213 (corresponding period 2000: 7,365). Net turnover for the second quarter amounted to MSEK 4,097 compared with MSEK 4,116 for the first quarter. The operating profit amounted to MSEK 1,366 (1,186, excluding items affecting comparability and divested activities) and the operating margin was 16.6 (15.9) per cent. The operating profit for the second quarter was MSEK 663 compared with MSEK 703 for the first quarter. Profit after financial items amounted to MSEK 1,309 (1,110 excluding items affecting comparability and divested activities). The profit for the second quarter was MSEK 610 compared with MSEK 699 for the first quarter. The return on operating capital was 13.0 per cent (13.6 excluding items affecting comparability and divested activities). The return on equity was 13.5 (16.6) per cent. Earnings per share amounted to SEK 11.50 (15.00). Earnings per share for the second quarter were SEK 5.40. Holmen Paper The market for newsprint and magazine paper was stable during the second quarter. However, the market for coated magazine paper weakened. Deliveries of newsprint to Western Europe rose by 1 per cent during the first half of the year compared with the corresponding period in 2000. Deliveries of MF Magazine were up by 3 per cent, of SC paper by 4 per cent, while deliveries of coated grades declined by 3 per cent. Holmen Paper's deliveries were slightly higher in the second quarter than in the first quarter. Production capacity was utilised to the full and the order situation remained good. Stocks increased to normal levels. Prices were stable during the quarter. The operating profit for the January-June period amounted to MSEK 1,092 (640). The improvement in profit is largely attributable to the effects of price increases and to a positive contribution from the Spanish newsprint mill acquired in July last year. The profit rose by MSEK 102 in relation to the first quarter as a result of favourable currency effects and the full impact of price increases made at the beginning of the year. Quarter January-June Full year Holmen Paper 2-01 1-01 2001 2000 2000 Net turnover, MSEK 2,173 2,041 4,214 3,503 7,618 Operating profit, MSEK 597 495 1,092 640 1,389 Operating margin, % 27 24 26 18 18 Return on operating 27 23 25 20 17 capital, % Production, 1,000 394 394 788 720 1,535 tonnes Deliveries, 1,000 374 369 743 720 1,560 tonnes ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/08/15/20010815BIT00420/bit0001.doc The full report http://www.waymaker.net/bitonline/2001/08/15/20010815BIT00420/bit0001.pdf The full report