Holmen’s interim report January–March 2017

Quarter   Full Year  
SEKm   1-17   4-16   1-16   2016  
Net sales   4 131   3 937   3 828   15 513  
Operating profit
excl. items affecting comparability
 
627   579   580   2 162  
Operating profit   627   579   348   1 930  
Profit after tax   485   442   222   1 424  
Earnings per share, SEK   5.8   5.3   2.6   16.9  
Operating margin, % *   15.2   14.7   15.1   13.9  
Return on capital employed, % *   10.2   9.3   9.1   8.6  
Return on equity, %   9.2   8.5   4.3   6.9  
Cash flow before investments and working capital   742   527   754   2 320  
Debt/equity ratio   0.16   0.19   0.21   0.19  

*Excluding items affecting comparability of SEK -232 million in 2016. See also page 14.

  • Operating profit for January–March 2017 was SEK 627 million (January–March 2016: SEK 580 million excluding items affecting comparability). The improvement in profit was mainly due to higher earnings from paper and wood products.
  • Compared with the fourth quarter of 2016, operating profit increased by SEK 48 million due to higher paperboard deliveries, better prices and a better product mix for wood products, as well as seasonally higher hydro power production.
  • Profit after tax for January–March amounted to SEK 485 million (222), which corresponds to earnings per share of SEK 5.8 (2.6). 
  • Return on capital employed increased to 10.2 (9.1) per cent.
  • Sales performance was good, with an improved product and market mix. Paperboard production has stabilised at a higher level following investments. In April, Linghem Sawmill was acquired to strengthen the raw material supply for Braviken Sawmill and expand the product offering. The cash-flow yield on own forests was seasonally high, at 5.0 per cent.

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 information is information that Holmen AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, on 3 May 2017 at 12.45 CET.

About Us

Holmen is a forest industry group that manufactures paperboard, paper and wood products and runs forestry and energy production operations. In 2016 Holmen’s net sales were SEK 15.5 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