• Profit after financial items amounted to MSEK 1,809 (corresponding period in 1999: 1,158). The second quarter profit amounted to MSEK 986 compared with MSEK 823 for the first quarter. The second quarter figure includes the refund of surplus funds of MSEK 175 from the SPP pension insurance company.
  • Profit after tax for the period amounted to MSEK 1,332 (786), which corresponds to earnings per share of SEK 15.00 (8.80). The return on equity was 16.6 per cent (9.4).
  • Net turnover amounted to MSEK 7,365 (7,257 excluding divested activities).
  • Demand for newsprint and magazine paper remained very good. Holmen Paper's capacity utilisation was high and the order situation was strong. Prices remained stable in relation to the previous quarter.
  • Demand for paperboard showed continued strength. Iggesund Paperboard raised its prices by 2 - 6 per cent and further price increases might be made later during the year. The order intake at the Workington mill rose but it is still less than the increased production capacity.
  • The sale of Holmen's shares in Modo Paper AB was completed on August 9. The transaction has generated a capital gain of some MSEK 1,850, which will be stated in the third quarter accounts.
  • On July 12, Holmen acquired Papelera Peninsular from Unipapel, a Spanish company, for some MSEK 2,000 on a debt-free basis. The company will be consolidated in Holmen's accounts with effect from the third quarter.

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

Visiting address: Strandvägen 1, Stockholm.

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

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