Period-end comment from Setra for Q1 2024

Wood products company Setra has reported an operating loss of SEK -95 million (-64) for the first quarter of 2024. Net sales totalled SEK 1,158 million (1,414).

“The sawmill industry remains in a difficult situation, with high timber prices and weak construction activity. Ongoing investments, combined with a cold and prolonged winter, have affected the production volume negatively. As a result of having a well-balanced market mix, Setra has no difficulty finding purchasers for what we produce and we expect to see increasing sales prices in the coming quarters” says Marcus Westdahl, CEO of Setra.

The installation of a new line for small-diameter logs in Skinnskatteberg is in its final stages and the first log was sawn there at the end of January. In parallel to that, the next step in Setra’s plant strategy has been launched, with the mill in Malå scheduled to have a new log intake, a new saw line, an upgraded trim saw and a new drying facility. The investment in Malå was decided in October 2022. 

Setra supplies the wooden frames for the first phase of Greenhouse Sthlm. This is Electrolux Group's new climate-smart neighbourhood, which houses its head office as well as homes, restaurants and shops.

In mid-March, Setra announced the inauguration of a new machining unit for cross-laminated timber. This will double the capacity of the CLT factory in Långshyttan. As society embraces the green transition, the interest in building using wood is growing. Setra wants to be a driving force in developing the industry by focusing on standardised solutions that make life simpler for customers.

Cash flow from operating activities in the first quarter amounted to SEK -226 million (-82).

* Setra does not publish a complete period-end report.

For further information, please contact:

Marcus Westdahl, President and CEO, phone +46 8 705 03 75, mobile +46 73 098 14 00
Johanna Gydingsgård, CFO, phone +46 8 705 03 03, mobile +46 72 453 85 41

At Setra, we believe in “Grönsamhet”. When a business is profitable for everyone, we call it Grönsamhet – Green profit. Setra is one of Sweden’s largest wood industry companies. We process raw material from responsibly managed forests into climate-friendly products such as glulam, planed products, components, CLT and sawn wood products. We also sell bioproducts such as bark, chips and sawdust to customers in the paper and pulp industry, and for energy production. Our customers are located all over the world. Find out more at setragroup.com