Continued positive earnings trend for Setra
The wood products company Setra reports an operating profit for the first nine months of 2013 of SEK 60 million (-24). Net sales for the same period totalled SEK 3,063 million (3,118).
Despite the prevailing business climate and a strong Swedish krona, Setra’s positive earnings trend continued during the first nine months of the year. The improved earnings are mainly due to lower raw material prices, bigger volumes and slightly higher market prices.
Total deliveries rose by 4% compared with the same period a year ago, but in some of Setra’s main markets the increases were sigificantly higher.
In the UK, where the construction market has gained momentum, Setra’s sales of sawn products increased by 15%. Other markets in which volumes rose sharply are Algeria, Japan and China. Sales to North Africa and the Middle East, which account for approximately 20% of Setra’s total sales, remained stable despite political unrest.
A new broader range of solid wood floors for the Swedish building materials trade was launched during the period and well received by the market.
Setra has further strengthened its financial position and due to good delivery volumes and reduced stocks, the period’s cash flow from operating activities amounted to SEK 219 million (141).
“It is gratifying to note that Setra’s explicit focus on internal efficiency improvements is paying off,” says Hannele Arvonen, Setra’s new President and CEO since 15 October. “Our ongoing efforts to reduce costs and limit tied-up capital will continue. At the same time, I can see major potential for our wood products to further strengthen their market positions.”
| Key figures, SEKm | July-Sept (3 mths) | Jan-Sept (9 mths) | |||
| 2013 | 2012 | 2013 | 2012 | ||
| Net sales | 923 | 881 | 3,063 | 3,118 | |
| Operating profit | 27 | (-26) | 60 | -24 | |
| Profit/loss after tax | 15 | (-28) | 25 | -44 | |
For further information, please contact:
Hannele Arvonen, President and CEO telephone +46 8 705 03 10, mobile +46 706 18 19 17
Stefan Lundin, CFO, telephone +46 8 705 03 01, mobile +46 702 22 65 07
Setra does not publish a complete nine-month report.
Setra is one of Sweden’s largest wood products companies and a leading player in Europe. We offer eco-certified wood products for interiors and construction to customers in the building materials trade and industry. The Group has approximately 1,000 employees and annual sales of approximately SEK 4 billion. Exports to Europe, North Africa, the Middle East and Japan account for almost 60% of sales.
Read more at www.setragroup.com
Press contact: Lotta Löwhagen Lundberg, lotta.lowhagen.lundberg@setragroup.com, +46 706 54 13 44
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