Holmen’s interim report January–September 2016

Quarter   January-September   Full Year
SEKm 3-16 2-16 3-15 2016 2015 2015
Net sales   3 810 3 937 4 032 11 575 12 325 16 014
Operating profit
excl. items affecting comparability
 
520 483 493 1 583 1 324 1 700
Operating profit   520 483 493 1 352 1 324 769
Profit after tax
excl. items affecting comparability
 
395 364 377 1 212 997 1 323
Profit after tax   395 364 377 982 997 559
Earnings per share, SEK   4.7 4.3 4.5 11.7 11.9 6.7
Operating margin, % * 13.7 12.3 12.2 13.7 10.7 10.6
Return on capital employed, % *   8.4 7.7 7.3 8.4 6.5 6.4
Return on equity, %   7.7 7.1 7.2 6.3 6.3 2.6
Cash flow before investments and working capital   560 478 629 1 792 1 598 2 083
Debt/equity ratio   0.21 0.22 0.27 0.21 0.27 0.23

* Excluding items affecting comparability, which are included in operating profit at SEK -232 million in 2016 and SEK -931 million in 2015. See also page 15.

  • Operating profit excluding items affecting comparability for January–September 2016 increased by SEK 259 million to SEK 1 583 million as a result of higher profits in paper.
  • Compared with the second quarter, operating profit for the third quarter increased by SEK 37 million to SEK 520 million as a result of seasonally lower costs.
  • Profit after tax for January–September amounted to SEK 982 million (997), which corresponds to earnings per share of SEK 11.7 (11.9). Excluding items affecting comparability, profit after tax amounted to SEK 1 212 million (997) and earnings per share to SEK 14.4 (11.9).
  • Following the divestment of the mill in Madrid, the paper business has been focused on magazine and book paper, which in the third quarter increased to account for 85 per cent of paper sales. Investments made in paperboard provide potential for production increases, but production disruptions led to paperboard production being largely unchanged in the third quarter. Reduced costs and higher prices have increased current year earnings from forests. Together with hydro power, forests account for two-thirds of the Group’s capital employed.

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/or the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, on 26 October 2016 at 12.35 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