Strong improvement by Holmen
Oct 26 2011 Holmen reports a net result of 343 million Kronor (216) for the third quarter. For the first nine months of the year, Holmen’s net result amounts to 1,015 million Kronor (528).
Holmen’s net sales for the third quarter were 4,518 million Kronor (4,205). The operating profit, excluding non-recurring items, was 519 million Kronor (383).Net sales for the first nine months of the year were 14,026 million Kronor (12,833), and the operating profit, excluding non-recurring items, was 1,570 million Kronor (971). Earnings per share were 12.10 Kronor (6.30).The improvement is explained by higher prices for newsprint and paperboard. Higher costs for wood and recovered paper had an adverse impact on the result.Demand for both newsprint and paperboard in Europe weakened during the third quarter. /AA