STOCKHOLM, Sweden, April 23, 2003 (PRIMEZONE) -- Sveaskog (Other OTC:ASDOF) conducts forestry and timber sales based on its holdings of approximately 3.5 million ha of productive forest land. The forestry operations also include property management as well as commercial activities relating to hunting, fishing and recreation. The forestry operations are conducted under the Sveaskog name. The Group also includes a sawmill business and cartonboard manufacture. The industrial operations are conducted under the names AssiDoman Timber and AssiDoman Cartonboard.
Quarter
MSEK 2003 Q 1 2002 Q 4 2002 Q 1
Net sales 2,234 2,208 1,958
Operating profit 412 335 328
Profit after net financial items 275 199 231
- Operating profit for the first quarter amounted to MSEK 412, an increase of MSEK 77 or 23% compared with the previous quarter and an increase of MSEK 84 or 26% compared with the first quarter of 2002.
- Compared with the previous quarter, earnings from Forestry operations improved for seasonal reasons, and Cartonboard's earnings improved following a maintenance shutdown in the previous quarter. Timber's positive earnings decreased slightly due to lower delivery volumes. Capital gains from property sales increased.
- Compared with the first quarter of 2002, all business areas showed improved earnings. The increases are mainly volume-related, due partly to acquisitions. Capital gains from property sales also increased.
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