Feb 22, 2006. Operating profit for the year was SEK 226 ($74.2 million) after SEK 37 million ($4.7 million) for 2004.

Maschinen

AF Group 2005 operating profit climbed six times to SEK 226 million

Feb 22, 2006. /Lesprom Network/. Net sales totalled SEK 2 269 million ($287.3 million) compared to SEK 2 136 million ($270.5 million) in 2004. Sales for the fourth quarter totalled SEK 586 million, slightly down from 588 million for previous year. Operating profit for the year was SEK 226 ($74.2 million) after SEK 37 million ($4.7 million) for 2004. Fourth-quarter profits were SEK 150 million ($19.0 million) compared to a loss of SEK 16 million ($2.0 million) in the fourth quarter of 2004 and the operating margin was 20.7% compared to -2.7% versus 2.7%. The sale of the AF Group's head office in Stockholm had a positive effect of SEK 136 million ($17.2 million) on net profits for the fourth quarter. Costs incurred in conjunction with dismissal notices had a negative effect of SEK 7 million ($886 434) on fourth-quarter earnings. Group consolidated profit after net financial items totalled SEK 222 million ($28.1 million) compared to SEK 31 million ($3.9 million) a year ago. After net financial items, the fourth quarter saw a profit of SEK 149 million (418.9 million) as opposed to a loss of SEK 17 million ($2.1 million) for the corresponding period in 2004. AF president, Jonas Wistrцm commentes: “Developments were positive for AF in 2005. We consolidated our position in the market, improved earnings in all of the group's divisions and concluded the sale of AF's property portfolio on favourable terms. Since the end of the reporting period new acquisitions have been made that have expanded the group's workforce by a total of around 450, with the addition of new employees in Finland, Sweden, the Baltic states and Russia.” Swedish AF is one of the leading technical consultants to the pulp and paper industries.