Holmen (SE) - Holmen: INTERIM REPORT JANUARY - JUNE 2003

Published: 12:48 20.08.2003 GMT+2 /HUGIN /Source: Holmen /SSE: HOLM 

/ISIN: SE0000109290
 

Holmen: INTERIM REPORT JANUARY - JUNE 2003
 
* The Group's net turnover for January-June amounted to MSEK 8,011

(January-June 2002: 7,965).
 

* Profit after tax was MSEK 781 (1,013).
 

* Earnings per share amounted to SEK 9.77 (12.67). The return on

equity was 10.4 per cent (14.6).
 

* The operating profit was MSEK 1,244 (1,359). Holmen Paper's

operating profit declined by MSEK 451 as a result of lower prices.

Iggesund Paperboard's result increased by MSEK 147 primarily as a

result of higher volumes.
 

Compared with the first quarter the result declined by MSEK 26 to

MSEK 609.
 

* The market conditions for newsprint and magazine paper were weak

during the second quarter. Holmen Paper's production has continued to

be restricted. Prices were stable during the quarter but they were

lower than in the previous year.
 

The market conditions for paperboard were stable during the quarter.

Iggesund Paperboard's capacity utilisation remained high and prices

were stable.
 
Stockholm 20 August 2003
 

Göran Lundin President and CEO
 
The full report including tables can be downloaded from the enclosed

link.
 
 http://reports.huginonline.com/914539/121966.pdf
 

For further information please contact:

Göran Lundin, President and CEO,

tel +46 8 666 21 33
 

Anders Almgren, CFO,

tel +46 8 666 21 16
 

Christer Lewell, Public Relations Director,

tel +46 8 666 21 15.
 

Holmen is a forest products industry group with the capacity to

produce 2.3 million tonnes of paper and paperboard per year. The EU

countries, which account for some 85 per cent of the Group's

turnover, are by far the largest market. Holmen Paper produces paper

for daily newspapers, magazines, directories and advertising matter

at three Swedish mills and one Spanish mill. Iggesund Paperboard

produces paperboard for packaging and graphic purposes at two Swedish

mills and one English mill. Iggesund Timber produces sawn timber at

one Swedish sawmill. Holmen Skog manages the Group's one million

hectares of forests and the annual volume harvested from company

forests is some 2.5 million m3. Holmen Kraft produces in a normal

year some 1,100 GWh of electricity at wholly and partly owned

hydroelectric power stations in Sweden.
 
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