Holmen (SE) - HOLMEN: YEAR END REPORT FOR 2002

Published: 12:53 05.02.2003 GMT+1 /HUGIN /Source: Holmen /SSE: HOLM 

/ISIN: SE0000109290
 

HOLMEN: YEAR END REPORT FOR 2002
 
+-------------------------------------------------------------------+

|                                 |     Quarter   |     Full year   |

|---------------------------------+---------------+-----------------|

| MSEK                            |  4-02 |  3-02 |   2002 |   2001 |

|---------------------------------+-------+-------+--------+--------|

| Net turnover                    | 4,120 | 3,996 | 16,081 | 16,655 |

|---------------------------------+-------+-------+--------+--------|

| Operating profit                |   638 |   716 |  2,713 |  2,446 |

|---------------------------------+-------+-------+--------+--------|

| Profit after financial items    |   611 |   676 |  2,564 |  2,294 |

|---------------------------------+-------+-------+--------+--------|

| Profit after tax                |   436 |   510 |  1,959 |  2,186 |

|---------------------------------+-------+-------+--------+--------|

| Earnings per share (before      |  5.46 |  6.37 |  24.50 |  27.33 |

| dilution), SEK                  |       |       |        |        |

|---------------------------------+-------+-------+--------+--------|

| Return on equity, %             |  11.7 |  14.2 |   13.7 |   16.0 |

+-------------------------------------------------------------------+
 
- The Group's profit after financial items was MSEK 2,564 (2001:

2,294). Holmen Paper's operating profit declined by MSEK 746, while

Iggesund Paperboard's increased by MSEK 363. The figure for 2001

included negative items affecting comparability of MSEK 620.

The Group's profit for the fourth quarter amounted to MSEK 611 (Q3,

2002: 676). The fourth quarter operating profits for Holmen Paper and

Iggesund Paperboard were MSEK 156 and MSEK 22 lower respectively than

for the third quarter, whilst Holmen Skog's operating profit was

MSEK 93 higher.
 

- The profit after tax was MSEK 1,959 (2,186). The return on equity

was 13.7 per cent (16.0).
 

- The Board proposes payment of a dividend of SEK 11 (10) per share.
 

- The market situation for newsprint and magazine paper remained weak

during the fourth quarter. Holmen Paper's deliveries increased

slightly, but production continued to be restricted. Prices were

unchanged for the fourth quarter. Prices will be lower in 2003, but

the negotiations have not been finalised.
 

The market situation for paperboard was stable during the fourth

quarter. Iggesund Paperboard's deliveries showed a seasonal decline.

Price increases have been implemented.
 

- The decision to build a new newsprint machine at the Group's

Spanish mill has been postponed until further notice.
 

- The decision to build a new newsprint machine at the Group's

Spanish mill has been postponed until further notice.
 
Stockholm, 5 February 2003
 
Göran Lundin

President and CEO
 
The year end report has not been subject to examination by the

company's auditors.

The 2002 annual report will be published at the beginning of March.

The Annual General Meeting will be held in Stockholm on 26 March at

16.00 hrs CET.

The interim report for January-March will be released on 7 May.
 
For further information please contact:

Göran Lundin, President and CEO, tel +46 8 666 21 00

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. The annual volume harvested from company forests

is 2.5 million m3. Holmen Kraft produces some 1,100 GWh of

electricity at wholly and partly owned hydroelectric power stations

in Sweden.
 
The full report including tables can be downloaded from the enclosed

link.
 
 http://reports.huginonline.com/890544/112987.pdf
 
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