Sydkraft€s 1998 Annual Report published today

Sydkraft´s 1998 Annual Report published today Sydkraft AB´s 1998 Annual Report will be published today, Monday, April 19, 1999. It will be accompanied by the Company´s Environmental Report in the form of a separate enclosure. As accounted earlier in the Group´s year-end report, Sydkraft´s sales in 1998 rose by 5 percent to SEK 15,283 M, compared with 1997. Operating profit remained largely unchanged and totaled SEK 3,988 M, compared with SEK 3,996 M in the preceding year. Group profit after financial items increased by 7 percent to SEK 3,086 M, primarily due to declining interest-rate levels. In the "Message from the President", Lars Frithiof also referred to Sydkraft´s new markets, the importance of strong brand names and negotiations with the Government regarding the Barsebäck plant. Looking ahead, Lars Frithiof notes: "Sydkraft is a strong Group, and its financial strength offers excellent opportunities for continued favorable development. Sydkraft´s brand name is being reinforced and customers regard our promises in a favorable light. At the samt time, competition is becoming increasingly intense. In view of these factors, I consider that earnings for the current year will almost match the profit level achieved in 1998, assuming normal weather and operating conditions. Sydkraft´s Annual General Meeting will be held at 3 p.m. on May 10, 1999, in STORAN, Malmö Musikteater. The Board of Directors proposes that the Meeting approve a dividend to shareholders of SEK 4.75 per share for the 1998 financial year. Excluding the bonus divident paid for 1997, this corresponds to an increase of 12 percent compared with the preceding year. Further information can be obtained from Stieg Claesson, Vice President Information and Public Affairs, telephone +46 40 25 55 02. Released by: Sydkraft AB (publ) Information and Public Affairs Stieg Claesson www.sydkraft.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/04/19/19990419BIT00550/bit0001.pdf http://www.bit.se/bitonline/1999/04/19/19990419BIT00550/bit0002.doc