| Quarter | January-June | Full Year | |||||||||||||
| SEKm | 2-19 | 1-19 | 2-18 | 2019 | 2018 | 2018 | |||||||||
| Net sales | 4 361 | 4 260 | 4 164 | 8 621 | 8 264 | 16 055 | |||||||||
| Operating profit excl. item affecting comparability | 574 | 643 | 618 | 1 217 | 1 271 | 2 476 | |||||||||
| Operating profit | 574 | 643 | 618 | 1 217 | 1 271 | 2 382 | |||||||||
| Profit after tax | 451 | 503 | 759 | 954 | 1 266 | 2 268 | |||||||||
| Earnings per share, SEK | 2.7 | 3.0 | 4.5 | 5.7 | 7.5 | 13.5 | |||||||||
| Operating margin, %* | 13.2 | 15.1 | 14.9 | 14.1 | 15.4 | 15.4 | |||||||||
| Return on capital employed, %* | 8.6 | 9.7 | 9.8 | 9.2 | 10.1 | 9.7 | |||||||||
| Return on equity, % | 7.7 | 8.5 | 13.6 | 8.1 | 11.4 | 10.1 | |||||||||
| Cash flow before investments and working capital | 884 | 655 | 662 | 1 539 | 1 248 | 2 500 | |||||||||
| Debt/equity ratio | 0.14 | 0.12 | 0.15 | 0.14 | 0.15 | 0.12 | |||||||||
*Excluding an item affecting comparability of SEK -94 million in the fourth quarter of 2018.
- Operating profit for January–June was SEK 1 217 million (January–June 2018: SEK 1 271 million). Higher prices for paper had a positive effect on earnings, while rising wood costs and a maintenance shutdown in paperboard had a negative impact. The profit includes SEK +80 million from sale of a permit to build a wind farm on Holmen property. In the same period last year, the profit included SEK +70 million from the divestment of a forest property.
- Operating profit in the second quarter totalled SEK 574 million, compared with SEK 643 million in the first quarter. Profit in the quarter was boosted by the sale of a wind farm permit but was negatively affected by a maintenance shutdown in paperboard and seasonally lower hydropower production.
- Profit after tax for January–June amounted to SEK 954 million (1 266), which corresponds to earnings per share of SEK 5.7 (7.5). Profit in the preceding year was positively affected by SEK 300 million as a result of a lower tax rate in Sweden.
- To make the capital structure more efficient, the Board of Directors has made the decision to initiate repurchase of own shares.
For further information please contact:
Henrik Sjölund, President and CEO, tel. +46 8 666 21 05
Anders Jernhall, Executive Vice President and CFO, tel. +46 8 666 21 22
Stina Sandell, Senior Vice President Sustainability and Communications, tel. +46 73 986 51 12
This information such that Holmen AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act (2007:528). The information was submitted for publication, through the agency of the contact person set out above, at 12.15 CEST on Thursday, 15 August 2019.