Holmen’s interim report January-June 2014

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| Source: Holmen AB
                          Quarter            January-June  Full year
SEKm                2-14     1-14   2-13   2014      2013       2013
Net turnover       3 946    4 081  4 197  8 027     8 354     16 231
Operating profit     351      389    307    740       545      1 209
excl.
items affecting
comparability
Operating profit     351      389    307    740       405      1 069
Profit after tax     250      276    232    526       274        711
Earnings per         3.0      3.3    2.8    6.3       3.3        8.5
share, SEK
Return on equity,    4.8      5.3    4.5    5.0       2.6        3.4
%
Cash flow before     484      540    649  1 024     1 000      2 011
investing
activities
Debt/equity ratio   0.31     0.28   0.33   0.31      0.33       0.29

  · Operating profit was SEK 740 million (January–June 2013: 405). The
improvement in profit is due to higher prices for printing paper and sawn
timber, as well as reduced costs. Profit for the previous year was impacted by
items affecting comparability of SEK -140 million.


  · In the second quarter operating profit amounted to SEK 351 million, SEK 38
million lower than in the first quarter as a result of seasonally lower hydro
power production.


  · Profit after tax amounted to SEK 526 million (274), which corresponds to
earnings per share of SEK 6.3 (3.3). Return on equity was 5.0 per cent (2.6).


  · The market situation for paperboard during the quarter was stable, but it
weakened for printing paper. For sawn timber the market situation was good for
pine, but it weakened for spruce.


For further information please contact:
Henrik Sjölund, President and CEO, tel. +46 8 666 21 05
Anders Jernhall, CFO, tel. +46 8 666 21 22
Ingela Carlsson, Communications Director, tel. +46 70 212 97 12

In its capacity as issuer, Holmen AB is releasing the information in this
interim report for January-June 2014 in accordance with Chapter 17 of the
Swedish Securities Market Act (2007:528). The information was distributed to the
media for publication at 12.45 CET on Wednesday August 13, 2014.