Financial reporting for Holmen's new operating segment

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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.