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Worse year for Swedish state owned companies
Friday, 30 March 2012
Sales in the
Swedish state own companies decreased by 11 percent to Skr337.8 billion
for the full year 2011 compared to full year 2010 according to the
state’s assessment of the performance of its business portfolios in the
year.
In the
government report for state ownership from January to December 2011,
Vattenfall was responsible for 53.6 percent of sales and 44.2 percent
of total turnover (including associates). Vattenfall's sales fell 15
percent to Skr181.0 billion, partly because some operations were
divested.
Turnover in LKAB, Lernia, LFV and SAS increased, while sales in Pharmacies Group, Apotek, Post North and TeliaSonera declined.
Swedish Ships
Mortgage Bank, Lernia, Swedavia, Almi and the Housing conversion
accounted for large percentage of revenue growth over the same period
last year.
Profit after tax for state ownership amounted to Skr41.5 billion in 2011, the past years it was Skr55.5 billion.
Vattenfall's
profit after tax decreased by 21 percent to Skr11.1 billion. LKAB
reported 1.9 billion better results after tax over the same period last
year, an increase of Skr11.0 billion.
Green Cargo and
Almi had major performance improvements in absolute and percentage
terms, while the Pharmacy team, Apotek, and SEK contributed to major
performance degradation in absolute and percentage terms.
Dividends are
expected to be Skr27.8 billion, compared with Skr37.6 billion the year
before when the state, among other things, had a one-time dividend of
Skr1.9 billion, participated in TeliaSonera's repurchase program
(Skr3.7 billion), and Apotek had a larger dividend (Skr4.5
billion).
By Scancomark.se Team
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