Holmen’s interim report January–March 2016

Quarter Full year
SEKm 1-16 4-15 1-15 2015
Net sales 3 828 3 689 4 154 16 014
Operating profit
excl. items affecting comparability
580 376 396 1 700
Operating profit 348 -555 396 769
Profit after tax
excl. items affecting comparability
450 326 298 1 323
Profit after tax 222 -438 298 559
Return on capital employed, %* 9.1 5.7 5.9 6.4
Return on equity, % 4.3 -8.4 5.6 2.6
Earnings per share, SEK 2.6 -5.2 3.5 6.7
Cash flow before investments 542 775 522 2 526
Debt/equity ratio 0.21 0.23 0.26 0.23

* Excluding items affecting comparability, which are included in operating profit at SEK -232 million (0).

  • Operating profit for the first quarter of 2016 was SEK 580 million, excluding items affecting comparability, which were SEK 184 million higher than in the first quarter of 2015 and SEK 204 million higher than in the fourth quarter. A shutdown for rebuild of a board machine had a negative effect of just over SEK 60 million on earnings for the quarter, but this was offset by a dispute over water costs for a corresponding amount being settled in Holmen’s favour. Earnings from timber trading were high and depreciation decreased. Both the first quarter of 2015 and the fourth quarter of 2015 were negatively affected by maintenance and rebuilding shutdowns.
  • Operating profit after items affecting comparability amounted to SEK 348 million. The quarter was impacted by a net amount of SEK -232 million in items affecting comparability regarding the sale of the Group’s Spanish operations and insurance compensation for reconstruction following the fire at Hallsta Paper Mill.
  • Profit after tax for January–March amounted to SEK 222 million (298), which corresponds to earnings per share of SEK 2.6 (3.5). Excluding items affecting comparability, profit after tax amounted to SEK 450 million (298) and earnings per share was SEK 5.4 (3.5).

For further information please contact: 
Henrik Sjölund, President and CEO, tel. +46 8 666 21 05 
Anders Jernhall, EVP and CFO, tel. +46 8 666 21 22 
Ingela Carlsson, Communications Director, tel. +46 70 212 97 12

This is information that Holmen AB is obliged to disclose under the Swedish Securities Market Act and the Swedish Financial Instruments Trading Act. The information was submitted for publication on 26 April 2016 at 11.15 CET.

About Us

Holmen’s business concept is to own and add value to the forest. The forest holdings form the basis of the business – an ecocycle in which the raw material grows and is refined into everything from wood for climate-smart building to renewable packaging, magazines and books. The forest is managed to provide a good annual return and stable value growth while our production operations are run with a focus on profitability and greater value added. In 2017 Holmen’s net sales were just over SEK 16 billion and the group has approx. 3 000 employees. Holmen’s shares are listed on Nasdaq Stockholm, Large Cap. For more information, visit holmen.com.