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Interim Report 1 January - 30 September 2004

10/21/2004 12:00 AM

The result presented below includes Invik as of the third quarter of 2004. Pro forma figures include Invik as of 1 January 2004.

Net turnover for the first nine months of the year increased to SEK 4,777 (4,324) million. Pro forma net turnover amounted to SEK 5,668 million.

The operating profit, excluding income from corporate development, amounted to SEK 637 (701) million. The pro forma operating profit amounted to SEK 699 million.

Net result after taxes increased to SEK 655 (447) million. Pro forma net result after taxes amounted to SEK 718 million.

Earnings per share increased to SEK 2.79 (2.03). Pro forma earnings per share amounted to SEK 2.72.

Korsnäs Holding reported an operating profit of SEK 616 (708) million.

Invik (former Modern Finance Group) reported an operating profit of SEK 137 (90) million, of which SEK 44 (-) million is included in the consolidated operating profit for the reporting period.

The market value of the group's holdings of listed securities amounted to SEK 19,932 million at 30 September 2004. On 20 October the value was SEK 18,695 million, which means that the market value exceeded the book value of the listed portfolio by SEK 3,165 million on that date.

The merger of Industriförvaltnings AB Kinnevik and Invik & Co. AB was finalised on 28 July. At the Extraordinary General Meeting held on 26 August the company's shareholders resolved in favour of changing the name of the merged company to Investment AB Kinnevik.


FOR FURTHER INFORMATION, PLEASE VISIT WWW.KINNEVIK.SE OR CONTACT:
Vigo Carlund, President and Chief Executive Officer
tel +46 (0) 8 562 000 00
Henrik Persson, Investor Relations
tel +46 (0) 8 562 000 87, mobile +46 (0) 70 762 00 87