STOCKHOLM, Sweden, August 07, 2003 (PRIMEZONE) -- Skandia's (Other OTC:SKNFF) (LSE:SDIAq) result is affected by external factors such as changes in the stock market and interest rates. Future revenues, which are based on fund values, increase or decrease as a result of these factors.
According to information presented in conjunction with the interim report for the first quarter of 2003, a 1% increase in the stock market would have a one-time effect on the operating result of SEK +66 million and a 1% decrease would have a one-time effect on the operating result of SEK -49 million.
Financial effects during the first quarter of 2003 had a negative effect in the amount of SEK -283 million. During the second quarter of 2003, financial effects are expected to be positive and are estimated to be in the range of SEK 400 million to SEK 500 million.
Comparison figures pertaining to American Skandia
On 1 May 2003 it was announced that the agreement with Prudential Financial, Inc. (USA), under which Prudential Financial is acquiring American Skandia, has been completed. To facilitate comparisons, the group overview in the interim report (as in the 2002 Annual Report) will be presented excluding the USA, unless indicated otherwise. This format is shown in the appended table.
Skandia's interim report for the second quarter of 2003 will be released on 13 August 2003.
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The following tables are available for download:
http://www.waymaker.net/bitonline/2003/08/07/20030807BIT00370/wkr0001.doc
http://www.waymaker.net/bitonline/2003/08/07/20030807BIT00370/wkr0002.pdf