KLIPPAN, Sweden, Oct. 29, 2002 (PRIMEZONE) -- KLIPPAN AB:
- Profit after net financial items MSEK 47.1 (15.1)
- Weakened order situation
- The acquisition of KLIPPAN Molndal has contributed to an improved result
General
KLIPPAN AB bought Stora Enso Molndal AB as at April 2, 2002, whereupon this company changes its name to KLIPPAN Molndal AB. The acquisition has meant that certain historical comparison figures are not relevant.
Sales
The European market for fine paper weakened further during the third quarter. This applied in particular to the uncoated qualities, which showed a reduced order intake of some 4% compared to last year. Prices are under pressure for coated paper, where there is some 20% over capacity on the market. The seasonal recuperation during the autumn was delayed this year, which in turn has affected the market for pulp negatively.
KLIPPAN's order book was reduced during the third quarter and now amounts to only 1-2 weeks, compared to the normal 3-4 weeks. The sales volume during the year increased by approximately 4%. Price levels for the most important products have been maintained.
The contents of this report have not been the subject of examination by the company's auditors.
For further information, please contact: President -- Bengt Ostensson tel +46(0)771 11 00 00 or +46(0)70 595 86 27 Financial Manager -- Kenneth Nellros tel +46(0)31 67 51 16 or +46(0)70 542 93 25
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