- Revenue up by 7 percent to SEK 2,239 m (2,096)
- Income before depreciation and items affecting comparability amounted to SEK 150 m (568)
- Income after tax for the period totalled SEK -132 m (544)
- Earnings per share amounted to SEK -1,56 (6,41)
- Restructuring of Jiway
- SEK 481 m in non-recurring expenses
- 55 percent sales growth within Division Technology
For OM the reporting period was characterised by the continuation of growth within its technology operations, lower level of activity on Stockholmboersen and substantial non-recurring expenses relating to the expanse reduction program and the restructuring of Jiway. Group revenue increased by 7 per cent to SEK 2,239 m (2,096 during the same period last year).
Due to unfavourable market conditions Jiway has not been able to develop as planned since it opened in November 2000. However, its restructuring, during the fourth quarter 2001, will create the prerequisites to enable the continuation of Jiway's operations at significantly reduced costs. In order to integrate Jiway with OM's operations, OM took over Morgan Stanley's 40 per cent share in Jiway with effect from October1, 2001.
OM introduced an expense reduction programme during the course of the summer. This programme will result in the reduction of OM's annual operation expenses by at least SEK 150 m (calculated on operating levels during the second quarter 2001), with the full effect from the first quarter 2002.
Expenses investments in research and development (R&D) during the period amounted to SEK 232 m (218).
Group income before depreciation and items affecting comparability totalled SEK 150 m (568) for the first nine months of the year. Items affecting comparability were SEK 481 m (100), of which SEK 408 m related to the restructuring of Jiway and SEK 73 m related to the costs involved in executing OM's expense reduction program. Restructuring Jiway has had a positive taxation effect of SEK 263 m. Including restructuring expenses, Jiway affected the period's income after tax by SEK 312 m during the reporting period. The period's income after tax was SEK 132 m (544).
