Interim Report Nine months ended September 30, 1999
Interim Report Nine months ended September 30, 1999 * Earnings after financial items totaled SEK 3,095 M (1,178). Excluding items affecting comparability, earnings amounted to SEK 1,318 M (1,178), an increase of 12%. Adjusted for structural effects, the increase in earnings was estimated to be slightly more than 30 percent. * Earnings after financial items during the past 12-month period totaled SEK 1,616 M, excluding items affecting comparability, (1, 476 for the full year 1998, excluding items affecting comparability). * Most markets were favorable; business increased in Sweden, the United States, Poland, Spain, Portugal and the African markets; was stable in Finland and the United Kingdom; but decreased in Norway, Denmark and Russia. * The divestment of Finnsementti and Lohja Rudus resulted in a capital gain of SEK 1,777 M. * Scancem International (Africa/Asia) and Optiroc (Iberian peninsula) continued to expand. Scancem Energy and Recovery (SEAR) - the Group's fuels producer - acquired a second company in the U.K. * Heidelberger Zement now owns 99.8% of the capital and voting rights in Scancem. Consolidated income statement SEK M 9 mos. 1999 9 mos. 1998 Past Full year 1998 12 mos. Net sales 12,803 13,099 17,264 17,560 Cost of goods sold -9,591 -9,761 -12,992 -13,162 Gross profit 3,212 3,338 4,272 4,398 Sales and administrative -1,907 -1,981 -2,762 -2,836 expenses Shares in earnings of 109 88 142 121 associated companies Other operating income, net 122 60 280 218 Items affecting 1,777 2,377 600 comparability Operating income 3,313 1,505 4,309 2,501 Result from financial investments (financial items) -218 -327 -316 -425 Profit after financial items 3,095 1,178 3,993 2,076 Tax -1,054 -358 -1,268 -572 Minority share in earnings -12 -46 -32 -66 after tax Net profit for the period 2,029 774 2,693 1,438 Figures in parentheses refer to the corresponding period of 1998. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/10/22/19991022BIT00080/bit0001.doc http://www.bit.se/bitonline/1999/10/22/19991022BIT00080/bit0002.pdf