Kinnevik: Interim Report 2006 1 January - 30 September

23 Oct 2006, 1:00 PM
  • The market value of the Group's holdings of listed securities increased by 7% during the first nine months of the year, equal to SEK 1,848 million including dividends received from Tele2 and Transcom totaling SEK 260 million. On 30 September 2006 the market value of the listed share portfolio amounted to SEK 27,319 million.
  • Revenue for the wholly owned Korsnäs Industrial increased compared to prior year from SEK 2,873 million to SEK 3,940 million during the first nine months 2006, of which revenue for the recently acquired Korsnäs Frövi amounted to SEK 828 million from the date of consolidation on 1 June 2006. The operating profit for Korsnäs Industrial increased from SEK 299 million to SEK 616 million, of which Korsnäs Frövi is included with SEK 95 million. The operating profit for the first nine months of 2005 was adversely affected by approximately SEK 185 million by the rebuild of Paper Machine 4 and extended maintenance stoppage.
  • Korsnäs' integration work pertaining to the acquisition of Frövi continues according to plan. The goal to achieve synergy effects of at least SEK 150 million annually remains. In order to realize the synergies, the company today estimates that restructuring costs of about SEK 150 million will be charged against income in the fourth quarter of 2006 and first half of 2007.
  • Revenue for the Group totaled SEK 4,538 million (3,419) and operating profit was SEK 602 million (302) for the reporting period.
  • Including the increase in the fair value of financial assets and result from discontinued operations, the Group reported a profit after tax of SEK 2,357 million (632) for the first nine months of the year.
  • The profit per share for continuing operations was SEK 8.97 (2.10).
The full report with tables can be downloaded from the following link: