STOCKHOLM
Regulatory News:
JANUARY 1–DECEMBER 31, 2012 (compared with same period a year ago)
The packaging operations that were divested on June 30, 2012, are
reported for the current and preceding year only as a separate line item
in the income statement – Net profit for the period from disposal group.
Comments in this report are thus entirely exclusive of the packaging
operations.
The divestments commented on in the report refer to the formation of a
joint venture in Australia/New Zealand through the sale of 50% of the
shares and deconsolidation of the operations from the start of the year,
and to the divestment of Aylesford Newsprint, which is deconsolidated as
from the start of the fourth quarter. Figures for the preceding year and
the first three quarters of 2012 have not been recalculated for these
two divestments.
-
Net sales rose 5% (11% excluding exchange rate effects and
divestments) to SEK 85,408m (81,337)
-
Operating profit excluding items affecting comparability rose 12% (17%
excluding exchange rate effects and divestments) to SEK 8,646m (7,738)
-
Items affecting comparability amounted to SEK -2,634m (-5,439)
-
Earnings per share were SEK 7.06 (0.78)
-
Cash flow from current operations was SEK 7,271m (5,306)
-
The Board of Directors proposes an increase in the dividend by 7,1%,
to SEK 4.50 per share (4.20)
(Please follow this link for the pdf: http://mb.cision.com/Main/600/9360758/85123.pdf)
CEO’S COMMENTS
SCA completed two major company deals in 2012 – the acquisition of
Georgia-Pacific's European tissue operations and the divestment of our
packaging operations, excluding the two kraftliner mills in Sweden. The
Georgia-Pacific acquisition boosts our competitive strength in the
European tissue market and complements our market positions. The
acquisition will lead to annual cost synergies of EUR 125m, with full
effect from 2016. The sale of SCA's packaging business reduces our
cyclical exposure and gives us greater financial opportunities to grow
our hygiene business. In 2012 SCA acquired Everbeauty, a leading Asian
personal care company, which strengthens our position in Asia –
especially in China.
In Forest Products, in 2012 SCA divested its 50% shareholding in
Aylesford Newsprint in the UK. During the year, SCA also signed an
agreement to sell the Austrian publication paper mill in Laakirchen. We
are thereby focusing on our Swedish operations, which are well
integrated with the nearby forest holdings.
In our hygiene operations, during the year we established a new
organization and launched an extensive cost-cutting program that will
lead to annual cost savings of EUR 300m, with full effect from 2015. We
also introduced an efficiency program in our Forest Products operations,
which will lead to annual savings of SEK 1,300m, with full effect from
2015.
Consolidated net sales for 2012, excluding exchange rate effects and
divestments, rose 11% compared with the same period a year ago.
Operating profit excluding exchange rate effects, divestments and items
affecting comparability rose 17%. The corresponding profit for Personal
Care and Tissue rose 28% and 50%, respectively, while profit for Forest
Products fell by 46%. The Group's operating cash flow improved by
slightly more than SEK 2bn, to SEK 9,644m.
Profit before tax, excluding exchange rate effects, divestments and
items affecting comparability, rose 21%.
NB
SCA discloses the information provided herein pursuant to the Securities
Markets Act. This report has been prepared in both Swedish and English
versions. In case of variations in the content between the two versions,
the Swedish version shall govern. Submitted for publication on January
24, 2013, at 12.00 CET.
This information was brought to you by Cision http://www.cisionwire.com
SCA
Joséphine Edwall-Björklund
Senior Vice President
Corporate Communications
+46 8 788 52 34
or
Johan Karlsson
Vice
President Investor Relations
+46 8 788 51 30
or
Petter
Tiger
Acting Communications Manager Media Relations
+46 8 788
52 37