|Net sales||4 499||4 194||4 260||16 959|
|Operating profit excl. items affecting comparability||628||587||643||2 345|
|Operating profit||628||9 357||643||11 115|
|Profit after tax||491||7 368||503||8 731|
|Earnings per share, SEK||3.0||45.5||3.0||52.6|
|Operating margin, %*||14.0||14.0||15.1||13.8|
|Return on capital employed, %*||5.7||9.0||9.7||8.9|
|Return on equity, %*||4.9||7.6||8.5||7.8|
|Cash flow before investments and change in working capital||615||665||655||2 727|
|Debt/equity ratio, %||9||9||12||9|
*Excluding items affecting comparability 2019.
- Operating profit for January-March was SEK 628 million (January-March 2019: SEK 643 million). Lower selling prices had a negative impact on earnings, but this was largely offset by increased deliveries.
- Compared with the fourth quarter, operating profit excluding items affecting comparability increased by SEK 40 million, mainly due to higher earnings for Forest.
- Profit after tax for January-March amounted to SEK 491 million (503), which corresponds to earnings per share of SEK 3.0 (3.0).
- The COVID-19 outbreak has had a limited impact on the Group's earnings in the first quarter. However, order intake for in particular paper and wood products has decreased over the past month, which will have a negative impact on sales in the second quarter.
- The Group's financial position is strong but, in view of the uncertainty created by COVID-19, the Board has decided to withdraw the previously proposed dividend. In the autumn the Board will assess whether a dividend should be paid and, if so, will convene an extraordinary general meeting.
For further information please contact:
Henrik Sjölund, President and CEO, tel. +46 8 666 21 05
Anders Jernhall, Executive Vice President and CFO, tel. +46 8 666 21 22
Stina Sandell, Senior Vice President Sustainability and Communications, tel. +46 73 986 51 12
This information such that Holmen AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 11.30 CEST on Wednesday, 29 April 2020.