Holmen’s profit down 30 percent from year ago
Holmen’s net turnover 2010 amounted to 17.5 billion Kronor (18.0). The operating result was 1.5 billion Kronor (1.). The result includes 264 million Kronor in items affecting comparability from a revaluation of forest (+1.05 billion), as well as an impairment loss and provisions within Holmen Paper (-786 million).Earnings per share amounted to 8.4 Kronor (12.0). The return on equity was 4.2 pe cent (6.4). The Board of Directors proposes a dividend of 7.0 Kronor per share (7.0).Compared to the third quarter, operating profit excluding items affecting comparability decreased by 22 million Kronor to 361 million.Holmen Paper’s profit declined considerably as a result of low newsprint prices and highe fiber costs. Current price negotiations regarding newsprint are expected to lead to substantial price increases during 2011.The profitability in other parts of the Group improved during 2010. The virgin fiber board market was robust, and Iggesund Paperboard’s deliveries to Europe increased by eight percent during the year.