Year-end Report for 2009

. Quarter Full year MSEK 4-09 3-09 4-08 2009 2008 Net turnover 4 659 4 387 5 043 18 071 19 334 Operating profit* 392 442 284 1 620 1 051 Profit after tax 225 280 271 1 006 642 Earnings per share, SEK 2.7 3.3 3.2 12.0 7.6 Return on equity, % 5.5 7.0 6.9 6.4 3.9 * The operating profit for full year 2008 includes items affecting comparability of cost SEK 361 million. - Profit after tax for 2009 was SEK 1 006 million (2008: SEK 642 million). - Earnings per share were SEK 12.0 (7.6). Return on equity totalled 6.4 per cent (3.9). - The Board proposes a lowered dividend of SEK 7 (9) per share. - Operating profit for 2009 amounted to SEK 1 620 (1 051) million. The result of 2008 included items affecting comparability which totalled cost SEK 361 million. Higher newsprint and paperboard prices improved profit. Weak demand led to considerable production curtailments, which had a negative effect on the result. In the fourth quarter, operating profit reached SEK 392 million, which was SEK 50 million lower than during the third quarter of 2009. The quarter includes seasonally higher costs as well as provisions and write-downs of SEK 125 million. The earnings trend for all business areas, except for Holmen Paper, was positive. - Demand was weak in the Group’s product areas during the year. In Europe demand for newsprint fell by 14 per cent and for virgin fibre board by 9 per cent compared to 2008. 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 Carlsson, Public Relations Director, tel. +46 8 666 21 15

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