INTERIM REPORT JANUARY - JUNE 2009
• The work of changing the operational structure gives positive effects on income. The income after net financial items for the second quarter of 2009 amounted to SEK 3 (-57) million.
• The income after net financial items for the first half of 2009 amounted to SEK -112 (-179) million. The operating income for the first half amounted to SEK -102 (-158) million.
• Cash-flow from current operations for the first half year amounted to SEK 34 (-2) million.
• After the end of the reporting period Rottneros has agreed to pay off the entire existing bond loan of SEK 150 million. The effect for Rottneros of the transaction will be that SEK 110 million of the net debt will be written off and reduced and this will be recorded in the result for the third quarter.
• The sale by the Rottneros Group of its operations at Rockhammar Mill to Korsnäs AB was concluded and went into effect on 1 April 2009. The sale gave rise to a capital gain in the second quarter of just over SEK 50 million.
• On 16 April Rottneros announced a decision to wind up the operations at the Spanish mill, Rottneros Miranda S.A. The operations and the company are being liquidated according to Spanish insolvency laws.
• The balance on the pulp market has improved significantly, which is enabling prices to be increased.
• The company will not be providing a forecast for the full year 2009.
ROTTNEROS IN BRIEF
Rottneros, with its origins in the 1600s, is a non-integrated, flexible supplier of customised, high-quality paper pulp. Through continuous product development, high delivery reliability, technical support and service, Rottneros is able to adapt to meet the high expectations of its customers.
Rottneros has a total production capacity of 400,000 tonnes of pulp per year produced at two mills in Sweden. Increasingly intensive product development work in line with customer demands will lead to higher and more stable profitability throughout an economic cycle.
(For full report see attached file.)