Holmen’s year-end report 2016
| Quarter | Full Year | |||||
| SEKm | 4-16 | 3-16 | 4-15 | 2016 | 2015 | |
| Net sales | 3 937 | 3 810 | 3 689 | 15 513 | 16 014 | |
| Operating profit excl. items affecting comparability |
579 | 520 | 376 | 2 162 | 1 700 | |
| Operating profit | 579 | 520 | -555 | 1 930 | 769 | |
| Profit after tax excl. items affecting comparability |
442 | 395 | 326 | 1 652 | 1 323 | |
| Profit after tax | 442 | 395 | -438 | 1 424 | 559 | |
| Earnings per share, SEK | 5.3 | 4.7 | -5.2 | 16.9 | 6.7 | |
| Operating margin, % * | 14.7 | 13.7 | 10.2 | 13.9 | 10.6 | |
| Return on capital employed, % * | 9.3 | 8.4 | 5.7 | 8.6 | 6.4 | |
| Return on equity, % | 8.5 | 7.7 | -8.4 | 6.9 | 2.6 | |
| Cash flow before investments and working capital | 527 | 560 | 485 | 2 320 | 2 083 | |
| Debt/equity ratio | 0.19 | 0.21 | 0.23 | 0.19 | 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 increased by SEK 462 million to SEK 2 162 million as a result of a better product mix within paper, the sale of the mill in Spain, as well as reduced costs and higher prices in forestry operations.
- Compared with the third quarter, operating profit in the fourth quarter increased by SEK 59 million to 579 million as a result of higher earnings from forest and energy.
- Profit after tax for 2016 amounted to SEK 1 424 million (559), which corresponds to earnings per share of SEK 16.9 (6.7). Excluding items affecting comparability, profit after tax amounted to SEK 1 652 million (1 323) and earnings per share was SEK 19.7 (15.8).
- The Board proposes a dividend of SEK 12 (10.5) per share.
- During the year the mill in Spain was sold, which together with increased sales of new products focussed the paper business on magazine and book paper. Sales of paperboard to new customers in the premium segment increased and an investment programme was completed, providing an opportunity for growth. The volume of standing timber grew by 1 per cent and forestry costs were reduced while retaining high quality in forest management. Together with hydro power, forest 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 the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, on 8 February 2017 at 12.30 CET.