INTERIM REPORT JANUARY - JUNE 2004

INTERIM REPORT JANUARY - JUNE 2004 Quarter January-June Full year MSEK 2-04 1-04 2-03 2004 2003 2003 Net 3,884 3,903 4,010 7,787 8,011 15,816 turnover Operating 456 534 609 990 1,244 2,338 profit Profit 403 492 551 895 1,132 2,126 after financial items Profit 286 349 392 635 781 1,451 after tax Earnings 3.37 4.36 4.91 7.71 9.77 18.14 per share (before dilution), SEK Earnings 3.37 4.20 4.72 7.57 9.41 17.48 per share (after dilution), SEK Return on 7.8 8.9 10.5 8.3 10.4 9.7 equity, % - The Group's net turnover for January-June amounted to MSEK 7,787 (January- June 2003: 8,011). - The profit after tax was MSEK 635 (781). - Earnings per share after dilution amounted to SEK 7.57 (9.41). The return on equity was 8.3 per cent (10.4). - The operating profit was MSEK 990 (1,244). The decline in the profit is due to lower newsprint prices and unfavourable currency effects, which were partly offset by higher delivery volumes. Compared with the first quarter, the result declined by MSEK 78 to MSEK 456. - Demand for newsprint and magazine paper has continued to increase but the price level is low. Holmen Paper's deliveries were higher than in the first half of 2003, and capacity utilisation was high. The market situation for paperboard remained stable. Iggesund Paperboard's capacity utilisation was high and deliveries rose in relation to the first half of 2003. For further information please contact: Magnus Hall, President and CEO, tel +46 8 666 21 33 Anders Almgren, CFO, tel +46 8 666 21 16 Christer Lewell, Public Relations Director, tel +46 8 666 21 15. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/08/18/20040818BIT20700/wkr0001.pdf The full report