Financial results for the fourth quarter
* The market value of the Group's securities in Major Listed
Holdings amounted to SEK 24,085 million on 31 December, a decrease
of SEK 6,521 million corresponding to 21% since 30 September 2008.
* Korsnäs' revenue amounted to SEK 1,668 million (1,821) and
operating loss was SEK 138 million (profit of 7), including
restructuring charges of SEK 71 million (0). The declining result
is primarily explained by weakening demand resulting in prolonged
production stoppages during the fourth quarter.
* The Group's total revenue amounted to SEK 1,796 million (1,873)
and operating loss was SEK 180 million (loss of 5).
* Result after financial items, including changes in fair value of
financial assets, amounted to a loss of SEK 6,970 million (profit
of 6,595).
* The loss per share was SEK 26.11 (profit of 25.18).
Events during the fourth quarter
* Production stoppages in Korsnäs were prolonged due to a
weakening business environment, and Korsnäs announced a profit
enhancement program with the purpose to return to an operating
margin above 10% when fully implemented.
* The share buy-back programme was completed and on 31 December
the number of repurchased shares amounted to 3,500,000 Class B
shares that had been bought at an average price of SEK 79.68,
totaling SEK 279 million.
* In December, Kinnevik divested its investment in the African
pay-TV company Gateway Broadcasting for USD 23.6 million. The GTV
investment generated an IRR of 40%.
Financial results for 2008
* The market value of the Group's securities in Major Listed
Holdings decreased by SEK 24,977* million, corresponding to 49% *.
* Korsnäs' revenue amounted to SEK 7,396 million (7,519) and
operating profit was SEK 429 million (836) including restructuring
charges of SEK 71 (0) million. The operating margin was 6.7%
(11.1%) excluding restructuring charges.
* The Group's total revenue amounted to SEK 7,719 million (7,673)
and operating profit was SEK 398 million (885).
* Result after financial items, including changes in fair value of
financial assets, amounted to a loss of SEK 25,872 million (profit
of 16,266).
* The loss per share was SEK 97.94 (profit of 61.29).
* The Board proposes that the Annual General Meeting decide on an
unchanged cash dividend amounting to SEK 2.00 (2.00) per share.
Events after the end of the reporting period
* In February 2009, Metro announced the intention to raise
approximately SEK 550 million in new financing by issuing
debentures and warrants. The issue is fully underwritten by
Kinnevik.
* After deduction of dividends received.
