YEAR-END RELEASE 2002 QUARTERLY REPORT OCTOBER - DECEMBER 2002

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* Profit after net financial items, SEK m Jan. – Dec. 86 (235)

Oct. – Dec. 21 (4)

* Earnings per share after net

financial items, SEK Jan. – Dec. 0.46 (1.15)

Oct. – Dec. 0.12 (0.02)

* Cash flow per share, SEK Jan. – Dec. -0.13 (0.50)

Oct. – Dec. 0.13 (0.19)

* Shareholders’ equity per share, SEK 9.33 (31 December 2001: 9.40)

* Equity/assets ratio 72 % (31 December 2001: 73%)

* Positive result after financial items 21 SEK m in the fourth quarter.

* Poor price trend for pulp in the fourth quarter and a weaker USD. Price increases announced in February 2003.

* The Board proposes a dividend of SEK 0.30 per share (0.35) and an extension of the buy-back programme.

* Increased order intake and price increase for pulp during the beginning of 2003. The improvement is expected to last during the first half of the year. The second half is more uncertain depending on the development of the state of the market in the world. The result for the whole of 2003 is expected to be better than the result for 2002.

ROTTNEROS IN BRIEF

Rottneros, with its origins in the 1600s, is an independent and flexible supplier of customised, high-quality paper pulp. Through continuous product development, high delivery reliability, technical support and service, Rottneros is able to adapt to satisfy its demanding customers.

As one of the world’s leading independent market pulp producers, Rottneros is a market leader in groundwood pulp for the open market and one of the main producers of other grades of pulp.

Rottneros has a total production capacity of more than 700,000 tonnes of pulp per year produced at five mills in Sweden and Spain, making the Group one of the ten biggest suppliers of market pulp in the world. Increasingly intensive product development in accordance with customers’ demands should lead to more stable and higher profitability throughout an economic cycle. In addition the Group has an extensive risk management policy comprising hedging of mainly currency, pulp prices and electricity in order to even out the volatility over the business cycle.

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