Business News
Holmen: Interim report January-September 2010
Wednesday 27. October 2010 - Profit after tax for January-September 2010 was SEK 528 million (January-September 2009: SEK 781 million).
Holmen (STO:HOLMA)(STO:HOLMB)
Quarter January-September Full year
SEKm
3-10
2-10 3-09
2010
2009 2009
Net turnover
4 205
4 227 4 387
12 833
13 412 18 071
Operating profit
383
268 442
971
1 229 1 620
Profit after tax
216
133 280
528
781 1 006
Earnings per share, SEK
2.6
1.6 3.3
6.3
9.3 12.0
Return on equity, %
5.2
3.2 7.0
4.3
6.7 6.4
Profit after tax for January-September 2010 was SEK 528 million
(January-September 2009: SEK 781 million).
Earnings per share reached SEK 6.3 (9.3). Return on equity totalled 4.3 per cent (6.7).
Operating profit amounted to SEK 971 million (1 229). Holmen Papers operating profit deteriorated considerably as a result of lower newsprint prices and higher fibre costs. Profitability in the Groups other business areas improved.
From the second to the third quarter, operating profit climbed by SEK 115 million to SEK 383 million. The improvement is explained by seasonally lower staff and maintenance costs and higher paperboard production.
Demand for newsprint in Europe remained weak in the third quarter. The virgin fibre board market was robust and deliveries to Europe rose by 10 per cent during the first nine months of the year compared to the same period in 2009.