• The Group's net turnover for January-June 2008 amounted to MSEK 9 700 (January-June 2007: 9 449).
  • Profit after tax was MSEK 395 (726).
  • Earnings per share after dilution amounted to SEK 4.7 (8.6). The return on equity was 4.7% (9.0).
  • The operating profit was MSEK 704 (1 162). This result was adversely affected by lower newsprint prices, negative currency effects, and higher costs, mainly of wood. The profit includes costs relating to structuring measures at Hallsta and the financial effects of the fire at Braviken, totaling a cost of MSEK 73 during the second quarter.
  • The operating profit for the second quarter was MSEK 257, which was MSEK 189 lower than during the first quarter. In addition to the non-recurring items at Holmen Paper the results were lower at Iggesund and Holmen Timber, partly because of maintenance and rebuilding stops respectively, as well as being seasonally lower at Holmen Energi.
  • The market for newsprint in Europe remained weak during the second quarter. Deliveries to Europe during January-June were 4% lower than during the corresponding period in 2007. During the first half-year Holmen Paper's prices were on average some 4% lower than in the corresponding period the previous year.
  • The market situation for virgin fibre board in Europe was weaker than in the previous year and deliveries from European producers to Europe were 1% lower during the first half of 2008 than in the previous year. Iggesund's deliveries were 4% lower. Iggesund's prices were higher than during the first half of 2007.
  • Holmen's Board has today decided to initiate negotiations to close down the business at Wargön Mill. The intention is for production to be totally discontinued in December 2008.

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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