Interim report January 1 - June 30, 2008 for the Scribona Group - The sale of Scribona's operating activities to Tech Data was completed on May 19, 2008. The total purchase price was SEK 504 million, of which the premium over carrying value was SEK 140 million. The two first installments, equal to 50% of the purchase price less certain settlements, were received in May and June 2008 in an amount of SEK 237 million. In July Scribona received the third installment, 35%, SEK 172 million. Wind-down costs have been estimated at a preliminary SEK 115 million. The net of the premium and wind-down costs is estimated at SEK 25 million. The wind-down of Scribona is proceeding according to plan. - Based on estimates, the net asset value available to the stockholders after the wind-down will amount to at least SEK 6.55 per share. - Net sales for the first half of 2008 reached SEK 2,670 million (4,065). Net sales for the second quarter were SEK 767 million (1,885). - Operating profit for the first half before the sale to Tech Data amounted to SEK -38 million (-20). For the second quarter, operating profit before the sale to Tech Data was SEK -15 million (-26). Including the sale, operating profit was SEK -14 million (-20) for the first half and SEK 10 million (-26) for the second quarter. - Profit after tax for the first half was SEK -30 million (-64), equal to SEK -0.37 per share (-0.78). Second quarter profit after tax was SEK 6 million (-34), equal to SEK 0.07 per share (-0.42). Comments from the CEO - The wind-down of Scribona is proceeding more quickly and smoothly than previously anticipated. There is still some uncertainty about remaining transactions, but my assessment is that the wind-down process is well under control. For additional information, contact: Lorenzo Garcia, President and CEO, telephone +46-(0)737 08 38 88 Scribona, listed on the OMX Nordic Exchange Stockholm, was the leading distributor of IT products on the Nordic market.
Interim report January 1 - June 30, 2008 for the Scribona Group
| Source: Catella AB