VARNAMO, Sweden, Feb. 4, 2003 (PRIMEZONE) -- Finnveden (Stockholm:FVEDb):
Fourth quarter
-- Cash flow from operations amounted to SEK 104 M (50)
-- Operating income, excluding items affecting comparability,
improved by SEK 20 M, to SEK 19 M (loss: 1)
-- Write-down of book value in Other Companies of SEK 36 M
Full-year
-- New orders and customers yielded volume growth, despite a weak
market
-- Operating income, excluding items affecting comparability,
improved by SEK 114 M, to SEK 128 M (14)
-- Cash flow after investing activities was SEK 262 M (neg: 60)
-- New strategy creates a Group with distinct direction and focus
on the automotive industry
-- Items affecting comparability of SEK 222 M (144), including
restructuring costs of SEK 98 M (82) and write-downs of SEK 124 M
(62), were charged against earnings
-- No dividend is proposed (0)
For additional information, contact:
Tommy Boork, CEO of Finnveden
+46 (0)705 11 21 13
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