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Kinnevik: Interim Report 2005 1 January - 30 September

10/25/2005 1:00 PM

  • The market value of the Group's holdings of listed securities increased in the first nine months of the year by a net of SEK 541 million after dividends received and the redemption of shares in Tele2 for SEK 627 million, and amounted on 30 September 2005 to SEK 21,852 million.
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  • Including the increase in the fair value of financial assets and profit from discontinued operations (Invik), the Group reported a profit after tax of SEK 632 million (loss of 2,623).
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  • The profit per share for continuing operations was SEK 1.98 (loss of 11.30).
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  • Net sales for the first nine months of the year amounted to SEK 4,348 million (4,298).
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  • Korsnäs Holding reported an operating profit of SEK 302 million (640) for the first nine months of the year. The comparative figures for 2004 include earnings of about SEK 60 million from own forests during the first quarter. The operating profit for the first nine months of 2005 was affected by the rebuild of Paper Machine 4 and a maintenance stoppage, amounting to approximately SEK 185 million, plus expenses in connection with the closure of Korsnäs Packaging's UK plant amounting to SEK 27 million.
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  • Korsnäs Industrial's operating profit for the third quarter totaled SEK 176 million, up SEK 10 million compared with the corresponding quarter of 2004, despite outstanding costs of SEK 15 million for the fine-tuning of Paper Machine 4 being charged against earnings for the third quarter.
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  • On 1 September trading commenced in the Invik share on the O List of the Stockholm Stock Exchange. The distribution in kind of Invik has reduced Kinnevik's equity by SEK 858 million. On 30 September the market capitalisation of Invik amounted to SEK 1,722 million.
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  • The recalculation of the comparative figures for the first nine months of 2004 to conform with IFRS is described in appendix 1 and can also be found on the Company's website, www.kinnevik.se, under Investor Relations/Accounting Principles.
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    The full report with tables can be downloaded from the following link: