Werner Söderström Corporation - WSOY's result before extraordinary items differs from the forecast presented in interim report 1 January to 31 August 1998 due to the weaker than expected result trend of the acquired companies, the exceptionally high depreciation for obsolescense realised in the parent company, as well as the operational investments related to a reorientation of business.
WSOY Group's net sales for 1998 totalled FIM 1,256.3 million (1,127.8) and result before extraordinary items was FIM 200.7 million (229.8).
WSOY's stock exchange release on the 1998 financial statements will be published on Tuesday 16 March at 9.00 a.m. The release includes the pro forma financial statements of the merging companies which will be incorporated as Sanoma-WSOY.
WERNER SÖDERSTRÖM CORPORATION - WSOY
President and CEO
For further information: Mr. Antero Siljola, President and CEO; tel. +358 9 6168 200 or Mr. Aarno Heinonen; Executive Vice President tel. +358 9 6168 219.
Distribution: Helsinki Stock Exchange, principal media