The results for the fourth quarter were materially negatively impacted by the bird flu. Direct and indirect effects of the disease, including lower prices, costs for personnel reductions as well as inventory write-downs at year-end, had a total negative impact of approximately MSEK 40 on operating income, of which MSEK 11.2 are reported as non-comparable items.
The impact of the bird flu refers to Sweden, Denmark and to some extent Finland. Adjusted operating income declined to MSEK 32.9 from MSEK 68.2 in the fourth quarter of 2015.
The underlying trends in adjusted operating income in the different countries were the same as in the previous quarters 2016 with a strong performance in Norway and Sweden and a continued weak performance in Denmark and Finland.
Please, see the interim report, fourth quarter 2016.