Strong Swedish krona explains negative quarterly result
The wood products company Setra reports net sales of SEK 945 (1,065) million for the first quarter of 2013. Operating loss for the period January-March amounted to SEK 26 (27) million.“The operating loss for the period January-March is almost at the same level as in the first quarter last year. When comparing the two quarters, however, it is worth noting that the exchange rate development with a considerably strengthened krona had a negative impact on the operating result of over SEK 20 million,” says Stefan Lundin, Acting CEO, and CFO of Setra. “The small price increases we noted in