Interim report January-June 2002

Interim report January - June 2002 The Group's earnings after net financial items amounted to SEK 93 million (88). ·Competition for less advanced oils and fats remains strong on the Nordic and Western European markets. Sales of higher value-added products are increasing in business area Oils & Fats. ·Profit improvements in business area Feed Materials. ·Satisfactory performance despite unfavourable trade conditions for Technical Products. Strong support for convertible debt instruments among Karlshamns employees [REMOVED GRAPHICS] MARKET Raw material prices remained stable all through the reporting period. The Swedish krona has gained strength since the beginning of the year; against the US dollar in particular. The stronger Swedish currency had only marginal effects on profits as of 30 June, however. Rising cocoa bean prices have been pushing prices of cocoa butter upwards since early 2002. Increasing competition for less advanced oils and fats throughout the vegetable oil industry has had negative effects on both volumes and margins on the Nordic and Western European markets, whereas volumes developed favourably in Eastern Europe. Demand for vegetable feed raw materials continues to increase. Crushing margins for rapeseed remained on last autumn's high level through the first half of 2002. The recession in the metalworking industry has dampened demand for technical oils. From the fourth quarter 2001 onwards, demand for fatty acids on the European market has been decreasing due to the general recession. Accounting and valuation principles This interim report has been prepared in accordance with the accounting principles applied in the Annual Report 2001. The recommendations issued by the Swedish Financial Accounting Standards Council, effective from 1 January 2002, have been implemented without resulting in any change of accounting principles. Karlshamn 20 August 2002 [REMOVED GRAPHICS] Jerker Hartwall President For further information, phone: +46 (0)454-826 03 / (0)705-757110 These interim figures have not been audited. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/08/20/20020820BIT00390/wkr0001.doc The full report http://www.waymaker.net/bitonline/2002/08/20/20020820BIT00390/wkr0002.pdf The full report