Year-end Report for 2008

Quarter Full year
MSEK 4-08 3-08 4-07 2008 2007
Net turnover 5 043 4 591 5 073 19 334 19 159
Operating
profit* 284 64 1 039 1 051 2 843
Operating
profit excl.
items
affecting
comparability 284 362 482 1 412 2 286
Profit after
tax 271 -24 341 642 1 505
Earnings per
share (after
dilution),
SEK 3.2 -0.3 4.0 7.6 17.8
Return on 6.9 -0.6 8.1 3.9 9.2
equity, %
* Items affecting comparability of cost MSEK 361 are included in the
result for 2008.
In 2007 items affecting comparability amounted to a profit of MSEK
557.



- The Group’s net turnover for 2008 amounted to MSEK 19 334 (2007: 19 159).

- Profit after tax was MSEK 642 (1 505).

- Earnings per share after dilution amounted to SEK 7.6 (17.8). The return on equity was
3.9 percent (9.2).

- The Board proposes a dividend of SEK 9 (12) per share.

- The operating profit was MSEK 1 051 (2 843). This figure includes net costs affecting comparability of MSEK 361 (profit 557) mainly due to closures of production facilities during the year.

The operating profit excluding items affecting comparability amounted to MSEK 1 412
(2 286). The decline in the result is mainly due to lower newsprint and sawn timber prices, and the higher cost of wood and other input goods.

- The operating profit excluding items affecting comparability for the fourth quarter amounted to MSEK 284 which was MSEK 78 lower than for the third quarter. The deterioration in the result is mainly attributable to a decline in the result for Iggesund Paperboard and seasonally higher personnel and maintenance costs.

- Demand for newsprint in Europe was 3 percent lower in 2008 than in the previous year. However, the balance between supply and
demand was relatively favourable, as a result of significant capacity reductions and higher exports from and lower imports into Europe.

Deliveries of virgin fibre board from European producers to Europe declined by 2 percent in 2008. Prices were increased in Europe during the second half of the year.



For further information please contact:
Magnus Hall, President and CEO, tel +46 8 666 21 05
Anders Almgren, CFO, tel +46 8 666 21 16
Ingela Carlson, Public Relations Director, tel +46 8 666 21 15