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Year-end Report for 2009
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Profit after tax for 2009 was SEK 1 006 million (2008: SEK 642 million).
Earnings per share were SEK 12.0 (7.6). Return on equity totalled 6.4 per cent (3.9).
The Board proposes a lowered dividend of SEK 7 (9) per share.
Operating profit for 2009 amounted to SEK 1 620 (1 051) million. The result of 2008 included items affecting comparability which totalled cost SEK 361 million. Higher newsprint and paperboard prices improved profit. Weak demand led to considerable production curtailments, which had a negative effect on the result.
In the fourth quarter, operating profit reached SEK 392 million, which was SEK 50 million lower than during the third quarter of 2009. The quarter includes seasonally higher costs as well as provisions and write-downs of SEK 125 million. The earnings trend for all business areas, except for Holmen Paper, was positive.
Demand was weak in the Group’s product areas during the year. In Europe demand for newsprint fell by 14 per cent and for virgin fibre board by 9 per cent compared to 2008.
|
|
Quarter |
Full year |
|
MSEK |
4-09 |
3-09 |
4-08 |
2009 |
2008 |
|
|
Net turnover |
4 659 |
4 387 |
5 043 |
18 071 |
19 334 |
|
Operating profit* |
392 |
442 |
284 |
1 620 |
1 051 |
|
Profit after tax |
225 |
280 |
271 |
1006 |
642 |
|
Earnings per share, SEK |
2.7 |
3.3 |
3.2 |
12.0 |
7.6 |
|
Return on equity, % |
5.5 |
7.0 |
6.9 |
6.4 |
3.9 |
* The operating profit for full year 2008 includes items affecting comparability of cost SEK 361 million.
Year-end Report for 2009