Interim Report January-June 2004
Interim Report January-June 2004 Setra Group AB (publ) is Sweden's largest wood products company with annual sales totalling approximately SEK 5,500 million and some 1,450 employees. The Group is divided into two business areas: Setra Sawn Products and Setra Wood Products. Setra Sawn Products comprises 12 sawmills with an annual production of approximately 2.3 million cubic metres. External sales amount to approximately SEK 4,100 million. About 35% of annual volume is sold in the Swedish market. Exports are primarily to the UK, Denmark, Germany, Spain, France, Norway, Italy and Japan. Setra Wood Products comprises five production units and eight distribution units. Annual sales total approximately SEK 1,400 million. Setra Group AB has approximately 2,400 shareholders. The largest shareholders are Sveaskog AB with 50%, Lantbrukarnas Ekonomi AB (LRF) with approximately 25% and Skogsägarna Mellanskog ekonomisk förening with approximately 24%. Other shareholders own approximately 1% of the shares. Setra Group - consolidated figures [Removed Graphics] Compared with the first quarter of 2004 - Net sales amounted to SEK 1,448 million (1 275). - Operating profit reached SEK 14 million (-17). - Profit after financial items amounted to SEK 4 million (-29). - Cash flow from operating activities amounted to SEK -28 million (-74). - The improved result mainly comprises a volume increase and stronger margins within the Wood Products business area, as well as exchange gains in currency hedging contracts. Compared with the first half of 2003 (2003 pro forma) - Net sales amounted to SEK 2,723 million (2,774). - Operating loss SEK 3 million (profit 110). - Loss after financial items amounted to SEK 25 million (profit 87). - Cash flow from operating activities amounted to SEK -102 million (101). - Less favourable result mainly attributable to lower margins within the Setra Sawn Products business area. Any questions relating to this report may be addressed to Anders Nilsson, President and CEO, +46 8 705 03 00 or +46 705-74 19 17. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/08/24/20040824BIT21380/wkr0001.pdf The full report