TRANSATLANTIC: INTERIM REPORT JANUARY - MARCH 2006
Continued favorable outlook
Comparable units reported somewhat weaker earnings compared with the year-earlier period. However, earnings have improved compared with the preceding period.
The offshore market remained strong and favorable earnings were recorded in the Icebreaking/Offshore division.
Transatlantic operations were affected by the lengthening of the Finn vessels and by increasing, albeit unsatisfactory, eastbound volumes. Earnings were somewhat weaker than the corresponding period in the preceding year but were significantly improved compared with the fourth quarter of 2005.
Earnings for European Services improved slightly compared with the year-earlier period.
Within European Services, the TransLumi line was established for the transport of overseas containers from the Baltic Sea region. This is expected to have a positive effect on consolidated earnings in 2007.
For full-year 2006, the consolidated operating profit for comparable units is expected to improve, compared with the result for 2005.
Results for January-March 2006
Net revenue: SEK 510 M (5461)
Operating profit before tax: SEK 18 M (231)
Profit before tax: SEK 14 M (832); Earnings per share: SEK 0.40 (3.202)
Profit after current tax: SEK 14 M (832); Earnings per share: SEK 0.50 (3.202)
Profit after full tax: SEK 14 M (792); Earnings per share: SEK 0.50 (3.002)
On March 31, 2006, shareholders' equity per share amounted to SEK 37.40
(36.80 at end of 2005)
The equity/assets ratio at the end of the period was 41% (40% at December 31, 2005).
(For complete report see attached file)
