Financial reporting for Holmen's new operating segment
Due to Holmen's decision to consolidate the group's paperboard and paper operations into a new and joint business area, Board and Paper is a new reporting segment from 1 January 2024.
The decision is part of the continued strategic development of Holmen’s business based on four well-defined business lines, i.e. forestry, hydro and wind power, woodworking industry and process industry operations. The new reporting segment replaces the previous segments Paperboard and Paper respectively. Financial reporting for other segments is not affected by the change.
Below follows financial reporting for Holmen's segments, pro forma, recalculated for the periods indicated. For more information and a longer history, please refer to "Holmen in figues" at holmen.com.
Reporting by operating segment
| 2023 | 2022 | |||||||
| Quarterly figures, SEKm | Q4 | Q3 | Q2 | Q1 | Q4 | Q3 | Q2 | Q1 |
| Net sales | ||||||||
| Forest | 1 939 | 1 880 | 2 073 | 2 105 | 1 969 | 1 755 | 1 810 | 1 809 |
| Renewable Energy | 312 | 159 | 231 | 368 | 565 | 290 | 188 | 183 |
| Wood Products | 935 | 929 | 1 124 | 1 087 | 1 019 | 937 | 1 614 | 1 445 |
| Board and Paper | 3 471 | 3 749 | 3 740 | 4 005 | 3 951 | 3 980 | 3 724 | 3 450 |
| Group-wide and eliminations | -1 257 | -1 298 | -1 413 | -1 342 | -1 260 | -1 177 | -1 163 | -1 137 |
| Group | 5 400 | 5 418 | 5 754 | 6 223 | 6 245 | 5 784 | 6 173 | 5 750 |
| EBITDA by business area* | ||||||||
| Forest | 408 | 417 | 402 | 373 | 427 | 368 | 368 | 325 |
| Renewable Energy | 241 | 95 | 163 | 309 | 491 | 240 | 188 | 193 |
| Wood Products | -48 | 66 | 102 | 70 | -15 | 228 | 648 | 580 |
| Board and Paper | 503 | 961 | 848 | 1 374 | 1 097 | 1 460 | 1 270 | 885 |
| Group-wide | -44 | -34 | -44 | -47 | -35 | -39 | -41 | -32 |
| Group | 1 059 | 1 505 | 1 471 | 2 080 | 1 965 | 2 258 | 2 434 | 1 950 |
| Operating profit/loss by business area* | ||||||||
| Forest | 384 | 397 | 390 | 351 | 402 | 346 | 349 | 305 |
| Renewable Energy | 213 | 68 | 135 | 282 | 463 | 214 | 162 | 168 |
| Wood Products | -89 | 19 | 55 | 23 | -67 | 177 | 598 | 529 |
| Board and Paper | 260 | 724 | 611 | 1 135 | 868 | 1 231 | 1 041 | 655 |
| Group-wide | -54 | -41 | -52 | -54 | -44 | -46 | -48 | -40 |
| Group | 714 | 1 166 | 1 138 | 1 737 | 1 622 | 1 921 | 2 101 | 1 617 |
*Excl. item affecting comparability 2022.
| Full year review, SEKm | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
| Net sales | ||||||||||
| Forest | 7 996 | 7 342 | 6 509 | 5 883 | 6 286 | 5 944 | 5 535 | 5 302 | 5 481 | 5 641 |
| Renewable Energy | 1 070 | 1 226 | 488 | 378 | 378 | 319 | 315 | 314 | 359 | 389 |
| Wood Products | 4 075 | 5 015 | 4 872 | 2 222 | 1 695 | 1 747 | 1 562 | 1 342 | 1 314 | 1 352 |
| Board and Paper | 14 965 | 15 105 | 11 702 | 11 066 | 11 986 | 11 356 | 10 934 | 10 682 | 11 620 | 11 360 |
| Group-wide and eliminations | -5 311 | -4 737 | -4 092 | -3 222 | -3 385 | -3 311 | -2 214 | -2 128 | -2 760 | -2 748 |
| Group | 22 795 | 23 952 | 19 479 | 16 327 | 16 959 | 16 055 | 16 133 | 15 513 | 16 014 | 15 994 |
| EBITDA by business area* | ||||||||||
| Forest | 1 600 | 1 488 | 1 573 | 1 422 | 1 217 | 1 216 | 1 099 | 1 030 | 935 | 845 |
| Renewable Energy | 807 | 1 112 | 375 | 242 | 362 | 205 | 159 | 143 | 198 | 233 |
| Wood Products | 190 | 1 441 | 1 857 | 309 | 159 | 337 | 165 | 80 | 86 | 160 |
| Board and Paper | 3 687 | 4 713 | 1 679 | 1 820 | 1 887 | 1 861 | 1 884 | 2 051 | 1 860 | 1 887 |
| Group-wide | -170 | -148 | -163 | -143 | -140 | -132 | -149 | -124 | -138 | -126 |
| Group | 6 114 | 8 607 | 5 321 | 3 651 | 3 486 | 3 488 | 3 157 | 3 179 | 2 940 | 2 999 |
| Operating profit/loss by business area* | ||||||||||
| Forest | 1 523 | 1 401 | 1 495 | 1 367 | 1 172 | 1 185 | 1 069 | 1 001 | 905 | 817 |
| Renewable Energy | 697 | 1 006 | 347 | 215 | 336 | 181 | 135 | 120 | 176 | 212 |
| Wood Products | 6 | 1 237 | 1 668 | 185 | 62 | 246 | 80 | -3 | 9 | 37 |
| Board and Paper | 2 730 | 3 796 | 743 | 886 | 944 | 1 018 | 1 053 | 1 192 | 772 | 815 |
| Group-wide | -202 | -178 | -193 | -174 | -168 | -154 | -170 | -148 | -163 | -146 |
| Group | 4 755 | 7 262 | 4 061 | 2 479 | 2 345 | 2 476 | 2 166 | 2 162 | 1 700 | 1 734 |
*Excl. items affecting comparability.
For more information, please contact:
Stina Sandell, Senior Vice President Sustainability and Communications, Holmen, +46 (0)73 986 51 12
Holmen’s business is built around the forest ecocycle and the renewable products we can create from it. Our business areas are Forest, Renewable Energy, Wood Products and Board and Paper. With a workforce of 3 500 people, we create value for shareholders, customers and society. Our net sales in 2023 amounted to just under SEK 23 billion and our shares are listed on Nasdaq Stockholm, Large Cap. Please visit holmen.com for more information.