Korsnäs fourth quarter results 2010
(Thomson Reuters ONE) -
Investment AB Kinnevik (publ) ("Kinnevik") today announces that, as a result of
production disturbances in the fourth quarter, the production and operating
profit in Korsnäs is lower than anticipated. Production was approximately 240
Ktonnes and the operating profit is expected to amount to approximately SEK
115-120 million in the fourth quarter 2010 (SEK 242 million). Operating profit
for 2010 is still expected to increase to approximately SEK 925-930 million (SEK
851 million).
The lower production in the fourth quarter is explained by problems at the Gävle
plant in connection with the start-up after the annual maintenance stop in
October and a fire in a power station in December. The problems have been
analysed and measures have been implemented to ensure that they will not
reoccur.
For further information, visit www.kinnevik.se or contact:
Torun Litzén, Director Investor Relations +46 (0)8 562 000 83
+46 (0)70 762 00 83
Investment AB Kinnevik (publ)'s objective is to increase shareholder value,
primarily through net asset value growth. The company's operations include three
comprehensive business areas; Major Listed Holdings which includes Millicom
International Cellular, Tele2, Modern Times Group MTG, Metro International and
Transcom WorldWide, Major Unlisted Holdings which includes the cartonboard and
paper company Korsnäs, and New Ventures which is active in finding new
investments in small and mid sized companies with a significant growth
potential. Kinnevik plays an active role on the Boards of its holdings.
Kinnevik is domiciled in Stockholm. The Kinnevik class A and class B shares are
listed on OMX Nordic Exchange Stockholm, Large Cap segment, within the financial
and real estate sector. The ticker codes are KINV A and KINV B.
Press release:
http://hugin.info/1114/R/1480507/416010.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Kinnevik via Thomson Reuters ONE
[HUG#1480507]
Unternehmensinformation / Kurzprofil:
Datum: 18.01.2011 - 13:45 Uhr
Sprache: Deutsch
News-ID 50533
Anzahl Zeichen: 2724
contact information:
Town:
STOCKHOLM
Kategorie:
Business News
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"Korsnäs fourth quarter results 2010"
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