PROVISIONAL FINANCIAL STATEMENTS FOR 2008

Solid performance from Ekornes

Financial results - revenues and profits
While Ekornes's financial results for 2008 were affected by
restructuring costs (NOK 33,8 mill.) and down writings (NOK 14,3
mill.) incurred to reduce production capacity, including the closure
of the Stranda sofa factory, they were affected by a weak NOK (NOK
+37,5 mill.) and the write-back of provisions made to fund a
long-term incentive scheme for management and employees (NOK 51,9
mill.).

Ekornes generated gross operating revenues of NOK 2,673.1 million in
2008, an increase of NOK 99.5 million (3.9 per cent) compared with
2007.
As at 31 December 2008 the Group had made an operating profit of NOK
462.7 million (17.3 per cent), compared with NOK 465.1 million (18.1
per cent) in 2007, a reduction of 0.5 per cent.
Profit before tax totalled NOK 497.0 million (18.6 per cent),
compared with NOK 444.1 million (17.3 per cent) in 2007, an increase
of 11.9 per cent.
Net profit totalled NOK 347.6 million, compared with NOK 310.0
million in 2007, giving earnings per share of NOK 9.44, compared with
NOK 8.42 the year before.
Gross operating revenues in the fourth quarter 2008 totalled NOK
744.9 million, up 8.4 per cent from the NOK 687.1 million achieved in
the same quarter in 2007. Ekornes made an operating profit of NOK
149.7 million (20.1 per cent) in the fourth quarter 2008, compared
with NOK 137.1 million (20.0 per cent) in the same period the year
before. Profit before tax totalled NOK 173.8 million (23.3 per cent),
compared with NOK 137.8 million (20.1 per cent) in the fourth quarter
2007.

Dividend

The board of directors is proposing a dividend payment of NOK 3,50
per share, compared with NOK 7.50 for 2007. This corresponds to a
dividend ratio of 37,1 per cent, compared with 89.1 per cent in 2007.


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