Historic results from Moelven
In 2018 Moelven delivered its best fourth quarter of all time, and is on course for an annual result that is the second best in the group’s history.
Moelven Industrier ASA has a preliminary annual result of NOK 638.9 million for 2018. This will be the second best annual result in Moelven’s 119 year long history, and is an increase of NOK 218.5 million from 2017. Revenue in 2018 was NOK 11,020.8 million (NOK 10,768.4 in 2017).
The fourth quarter of 2018 also made the history books. Never before has Moelven been able to present a better result for the year’s final three months. Operating income was NOK 200.4 million. This is an increase of NOK 75.7 million compared to the same period last year. Revenue in Q4 totalled NOK 2,753.5 million (NOK 2,708.9 million in 2017).
Wood is in vogue
CEO Morten Kristiansen of Moelven Industrier ASA is very pleased with the results.
“Demand remains high for sawn timber and industrial wood from the Timber division, and here the global economy and the interest in sustainable products is on our side. Exports are doing well at the moment, and this makes a strong contribution to the result. The Wood division, which includes building materials, façades, interior and outdoor products, has also improved results in 2018. Wood is experiencing good demand, although building activity in Scandinavia has fluctuated somewhat during the year. In the Building Systems division, which includes glulam, building modules and system interiors, the results vary somewhat more between companies. Here, different market fluctuations in Norway and Sweden are the reason the overall result is somewhat down compared to 2017,” Kristiansen explains.
Innovative projects
In 2019 Moelven will turn 120, which is something not many companies have the pleasure of achieving.
“We will stick to the same strategy that Moelven has always pursued. This means that we always work on developing our people, our products and how we meet the customers. If we stand still, we will fall behind,” says Kristiansen, who can look back at a number of innovative projects in 2018.
Mjøstårnet, which is the world’s tallest wooden building, has attracted a lot of attention. The same can applies to the project ‘The digital sawmill’ at Moelven Valåsen AB, which is a project that also has resulted in new patent applications. Recently the robot line at Moelven Byggmodul AB in Säffle was nominated to the ‘Top five innovations’ award by the American organisation Hive 50. This is the first time such a nomination has been given to a project outside of the United States.
Home in one piece
Although 2018 as a whole was very good for the Moelven group, there are certain areas that have failed to live up to expectations.
“HSE work has been important in 2018, and we see an improvement in developments in the number of injuries. However, we still have far too many injuries, and a lot of hard work is being done to reduce this. Every injury is one too many,” Kristiansen says.
Differing economic situations
“We see that the various divisions are differently impacted by economic fluctuations locally and internationally.
The fact that the company operates in different markets provides a good basis for further improvements.”
“We continuously work on improving operations and the structure of the group in order to deliver the best possible result in a sustainable manner. This work has been ongoing for several years, and will continue unabated in the time ahead,” Kristiansen says.
Read the quarterly report for Q4 2018 here
CEO Morten Kristiansen’s comments on the 2018 results
For further information please contact:
CEO Morten Kristiansen, mobile +4791118250
Chief Communications Officer Magne Vikøren, mobile +4792827108
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