The Year in Brief

During the period January 1 – December 31, 2010, net sales declined by SEK 249 m compared with the same period last year, to SEK 3,971 (4,220) m. Adjusted for exchange rate changes, net sales increased marginally by 0.3%.

During the second half of the year in particular, Professional enjoyed an increased rate of growth with continued high margins, Retail lost sales but increased its income on an extremely tough market, while Tissue had yet another difficult year.

Operating income (EBIT) adjusted for non-recurring items amounted to SEK 435 (436) m for the period January 1 – December 31, 2010. The Group's underlying operating margin thus strengthened from 10.3% to 10.9%. Adjusted for exchange rate changes, operating income increased by SEK 49 m compared with last year. The gross margin weakened from 27.6% to 26.5%. Reported income after financial items was SEK 418 (444) m and income after tax was SEK 306 (336) m.

Duni believes that the Company's main markets will continue to grow in 2011. At the same time, prices for input materials are expected to remain at a historically high level.

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• The Year in brief
• CEO statement
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