Stockholm - Swedish heavy-vehicle maker Scania saw almost all its pre-tax profits vanish in the first-quarter 2009, the group said Monday, citing lower deliveries and shrinking demand. Pre-tax income was 164 million kronor (20 million dollars), down 95 per cent compared to 2.5 billion kronor in the corresponding business period 2008.
Year-on-year sales in the quarter declined 28 per cent to 15.8 billion kronor, while operating income fell 86 per cent to 506 million kronor.
Athens/Nicosia - Swedish Foreign Minister Carl Bildt on Friday said there is now a unique window of opportunity for settling the Cyprus issue given that Turkey's membership evaluation by the European Union will take place at the end of the year.
"The failure by Turkey to meet the criteria could not be seen in separation from all the other issues, including the Cyprus problem," said Bildt during a visit to Cyprus.
Stockholm - Swedish furniture retail giant Ikea Friday named Mikael Ohlsson as its new chief executive officer.
Ohlsson, who began as a carpet seller at Ikea's store in the central city of Linkping some 30 years ago, was to replace Anders Dahlvig as of September 1.
Dahlvig has been head of the furniture giant that employs some 127,000 people for 10 years.
Ikea was founded by Ingvar Kamprad in 1943. It is not a listed company and does not disclose its profitability.
Stockholm - Swedish banking group SEB on Friday reported a 25 per cent drop in operating profits for first-quarter 2009 and said it would join a voluntary guarantee programme for banks set up by the Swedish government.
Operating profits declined year-on-year to 1.8 billion kronor (215 million dollars), while net profits dropped 44 per cent to 1 billion kronor.
Stockholm - Mobile and broadband operations helped lift pre-tax earnings for Nordic telecommunications group Telia Sonera, the group said Friday.
The group said earnings before interest, taxes, depreciation and amortization (EBITDA) increased 14 per cent year-on-year to 8.8 billion kronor (1.05 billion dollars).
Sales in the quarter increased 11 per cent to 27.5 billion kronor, while net income was flat on 4.4 billion kronor.
Stockholm- Swedish heavy-vehicle maker Volvo on Friday reported a pre-tax loss of 5.8 billion kronor (692 million dollars) for the first quarter of 2009, as demand "sharply" weakened.
In the corresponding business period of 2008, the Volvo Group, which does not include the Ford-owned car division, posted pre-tax income of 6.1 billion kronor.
Net sales plunged 27 per cent to 56 billion kronor, resulting in a net loss of 4.3 billion kronor for the quarter.
Stockholm - Swedish heavy-vehicle maker Scania saw almost all its pre-tax profits vanish in the first-quarter 2009, the group said Monday, citing lower deliveries and shrinking demand. Pre-tax income was 164 million kronor (20 million dollars), down 95 per cent compared to 2.5 billion kronor in the corresponding business period 2008.
Athens/Nicosia - Swedish Foreign Minister Carl Bildt on Friday said there is now a unique window of opportunity for settling the Cyprus issue given that Turkey's membership evaluation by the European Union will take place at the end of the year.
Stockholm - Swedish furniture retail giant Ikea Friday named Mikael Ohlsson as its new chief executive officer.
Stockholm - Swedish banking group SEB on Friday reported a 25 per cent drop in operating profits for first-quarter 2009 and said it would join a voluntary guarantee programme for banks set up by the Swedish government.
Stockholm - Mobile and broadband operations helped lift pre-tax earnings for Nordic telecommunications group Telia Sonera, the group said Friday.
Stockholm- Swedish heavy-vehicle maker Volvo on Friday reported a pre-tax loss of 5.8 billion kronor (692 million dollars) for the first quarter of 2009, as demand "sharply" weakened.
