Increased earnings for Setra
Wood products company Setra reports an operating profit of SEK 33 million (9) for the first quarter of 2017. Net sales totalled SEK 1,007 million (1,028).
“The higher earnings compared with the first quarter of 2016 are explained by the wood products market developing in a positive direction which has enabled us to increase both selling prices and sales and production volumes. We welcome this development in the wood products market and can see good demand from our customers. However, a lack of container capacity will affect deliveries in the coming months, especially to our customers in Asia,” says Hannele Arvonen, President and CEO of Setra.
The transaction for the sale of operations at Setra’s sawmill in Vimmerby to Bergs Timber was completed in January 2017. Figures for the previous year include the operations in Vimmerby as well as the subsidiary Setra Plusshus and the planing operations in Valbo, both of which were sold in the second quarter of 2016.
Cash flow from operating activities for the first quarter amounted to SEK -28 million (-42). The Group’s financial position is strong. The Group’s financial net debt amounted to SEK 133 million at the end of the period which corresponds to a net debt/equity ratio of 10% (21).
The Annual General Meeting of Setra Group AB was held today and the meeting resolved to pay a dividend of SEK 1.94 per share for the financial year 2016, a total of approximately SEK 100 million.
| Key figures | Jan-Mar (3 mths) | ||||||
| 2017 | 2016 | ||||||
| Net sales, SEKm | 1,007 | 1,028 | |||||
| Operating profit, SEKm | 33 | 9 | |||||
| Profit after tax, SEKm | 23 | 4 | |||||
| Operating margin, % | 3.3 | 0.9 | |||||
| Return on operating capital, %, RTM | 12.1 | 2.1 | |||||
| Cash flow, SEKm | -28 | -42 | |||||
For further information, please contact:
Hannele Arvonen, President and CEO, telephone +46 8 705 03 10, mobile +46 706 18 19 17
Anders Marklund, CFO, telephone +46 8 705 03 03, mobile +46 702 84 47 96
Setra does not publish a complete interim report.
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Setra is one of Sweden’s largest wood products companies. We process raw material from responsibly managed forests and offer climate-friendly products and solutions for building and living in a global market. The Group has approximately 800 employees and annual sales of approximately SEK 4 billion. Exports to Europe, North Africa, the Middle East and Asia account for about 60% of sales.
Read more at www.setragroup.com