Year end report
Year-end report for 1998 To provide a true and fair picture of the Group's position and earnings capacity ahead in time, the formal income statement and balance sheet for 1998 have been supplemented with pro forma accounts based upon the situation that would exist if the current holding Boliden is spun off to shareholders in May 1999, as proposed. Operating profit for the year amounted to SEK 736 M, pro forma SEK 980 M. Profit after net financial income and expense for the year totaled SEK 616 M, pro forma SEK 860 M. Combined, net sales for the Group's Industrial and Distribution operations rose by 51 percent. Since the end of the report period, the decision has been taken to propose that the Annual General Meeting vote to spin off the current holding in Boliden Ltd to shareholders. Fredrik Arp has been appointed new President and CEO of Trelleborg AB. --------------------------------------------------- Net sales, earnings and profitability The Group's net sales for 1998 totaled SEK 25,041 M (SEK 20,825 M, or SEK 16,222 M excluding Boliden). Net sales for the Group's Industrial sector totaled SEK 7,690 M (6,782) and for the Distribution sector SEK 14,792 M (8,379). Group operating profit for the year totaled SEK 736 M (2,609). Operating profit for 1998 includes participations in the pretax result of Boliden Ltd amounting to a loss of SEK 244 M (profit: 589). Operating profit for the year included a capital gain of SEK 17 M related to the sale of the operations within Intertrade and Chemtrade. Operating profit for 1997 included a capital gain of SEK 1,309 M arising from the divestment of 55 percent of the shares in Boliden. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/02/09/19990209BIT00460/bit0001.pdf http://www.bit.se/bitonline/1999/02/09/19990209BIT00460/bit0002.doc