Increased profit for Korsnäs, but weak fourth quarter

Feb 16 2011 Korsnäs' operating profit increased by nine percent durinng 2010, compared to the previous year. The fourth quarter result, however, was weaker than the corresponding period 2009.

Korsnäs' operating profit 2010 increased with nine percent to 926 million Kronor (851 million), and the operating margin was 11.3 percent (10.6), including received conflict compensation.The owner of Korsnäs, Kinnevik AB, did not show as good result as Korsnäs. Kinnevik's net result after tax and including changes in fair value of financial assets, amounted to 13,622 million Kronor (16,373), corresponding to a profit per share of 49.08 Kronor (61.66). In the fourth quarter of the year, Kinnevik's result after tax, including changes in fair value of financial assets, dropped to 445 million Kronor (4,734).Korsnäs' operating profit in the fourth quarter amounted to 116 million Kronor (242). The decrease was caused mainly by production disturbances.