Q4 2011

• Revenues totalled SEK 9,716 million (SEK 10,120 m)
• The operating profit totalled SEK 1,075 million (SEK 1,942 m)
  - The operating profit, excluding the revaluation of process inventory, totalled SEK 991 million (SEK 1,445 m)
  - A provision of SEK 125 million (SEK 80 m) for future reclamation costs was charged to the fourth quarter profit
• Free cash flow totalled SEK -482 million (SEK 1,850 m)
• Earnings per share totalled SEK 2.88 (SEK 5.17)

Full year 2011

• Revenues totalled SEK 40,323 million (SEK 36,716 m)
• The operating profit totalled SEK 4,748 million (SEK 5,643 m)
  - The operating profit, excluding the revaluation of process inventory, totalled SEK 5,008 million (SEK 4,830 m)
• Free cash flow totalled SEK -3 million (SEK 3,202 m)
• The debt/equity ratio was 29 per cent (24%)
• Earnings per share totalled SEK 12.39 (SEK 14.47)
• The Board of Directors proposes a dividend of SEK 4 (SEK 5) per share

Contact persons for information:

 Lennart Evrell, President & CEO, Tel: (exchange): +46 8 610 15 00
 Mikael Staffas, CFO, Tel: (exchange): +46 8 610 15 00
 Frans Benson, Director Investor Relations, Tel: +46 8 610 15 23                          

Please find enclosed the full Report.