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.