Interim report January-June 2010
Profit after tax for January–June 2010 was SEK 312 million (January–June 2009: SEK 501 million).
Earnings per share reached SEK 3.7 (6.0). Return on equity totalled 3.8 per cent (6.5).
Operating profit amounted to SEK 588 million (787). Holmen Paper’s profit deteriorated considerably as a result of lower newsprint prices. Profitability in the Group’s other business areas improved.
In the second quarter of 2010 operating profit amounted to SEK 268 million, which was SEK 52 million lower than during the first quarter. The decrease is due to seasonally lower results for Holmen Energi.
Demand for newsprint in Europe remained weak in the second quarter. The virgin fibre board market was robust and deliveries from European producers to Europe rose by 11 per cent during the first six months of the year compared to the same period in 2009.
Quarter
January-June
Full year
SEKm
2-10
1-10
2-09
2010
2009
Net turnover
4 227
4 400
4 496
8 628
9 025
18 071
Operating profit
268
320
372
588
787
1 620
Profit after tax
133
178
256
312
501
1 006
Earnings per share, SEK
1.6
2.1
3.0
3.7
6.0
12.0
Return on equity, %
3.2
4.3
6.6
3.8
6.5
6.4
Interim Report January-June 2010