Financial results for the first quarter
The market value of the Group's securities in Major Listed Holdings amounted to SEK 22,105 million on 31 March, a decrease of SEK 1,980 million corresponding to 8% since 31 December 2008. Korsnäs' revenue amounted to SEK 1,963 million (1,954) and operating profit was SEK 120 million (164). The Group's total revenue amounted to SEK 2,093 million (2,004) and operating profit was SEK 124 million (203). Net result after tax, including changes in fair value of financial assets, amounted to a loss of SEK 1,952 million (loss of 9,299). The loss per share was SEK 7.49 (loss of 35.23).
Events during the first quarter
Metro's new issue of subordinated debentures and warrants of approximately SEK 550 million is fully underwritten by Kinnevik. On 20 April, Metro announced that the terms for the financing will be disclosed shortly following the termination of discussions with a potential bidder for the company. In March Korsnäs signed an agreement to acquire Rockhammars Bruk from Rottneros AB for a total consideration of SEK 145 million. The transaction closed on 1 April.