• The Group’s net turnover amounted to MSEK 15,653 (2003: 15,816).
  • The profit after tax was MSEK 1,211 (1,451).
  • Earnings per share after dilution amounted to SEK 14.36 (17.48). Return on equity was 8.4 % (9.7).
  • The operating profit amounted to MSEK 1,860 (2,338). Higher delivery volumes had a favourable effect on the result, while lower prices, currency effects and higher costs had an unfavourable effect.
  • The fourth quarter operating result declined by MSEK 200 in relation to the previous quarter’s result, to MSEK 335, mainly due to high costs in connection with the rebuilding and maintenance stops at Iggesund Paperboard, seasonally higher costs and adverse currency effects.
  • The Board proposes to pay a dividend of SEK 10 per share. Last year an ordinary dividend of SEK 10 and an extra dividend of SEK 30 per share were paid.
  • Demand for newsprint and magazine paper has continued to increase. Holmen Paper’s deliveries rose by 5 % in relation to the previous year. The European price negotiations for 2005 are still going on and are expected to result in higher prices.
  • Demand for virgin fibre-based paperboard remained stable. Iggesund Paperboard’s deliveries increased by 4 % in relation to the previous year.

Holmen AB, P.O. Box 5407, SE-114 84 Stockholm, Sweden. 

Tel: +46 8 666 21 00  E-mail: info@holmen.com


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