Korsnäs up, Kinnevik down
April 20 2011 Korsnäs reports a strong improvement for the first quarter of the year. Investment AB Kinevik, sole owner of Korsnäs, reports, however, a dramatic decrease in its first quarter profit.
Korsnäs' sales during the first quarter totalled 2,135 million Kronor (2,159 million the corresponding period last year). Operasting profit amounted to 264 million Kronor (199), a 33 percent increase. The operating margin improved to 12.4 percent (9.2).Korsnäs' production during the first quarter was 278,000 tons, compared with 261,000 tons the first quarter 2010.Kinnevik's net result after tax was 49 million Kronor (6,834 million the corresponding period last year).