Period-end comment from Setra Q3 2021
Wood products company Setra has reported an operating profit of SEK 600 million (-3) for the third quarter of 2021. Net sales totalled SEK 1,565 million (840).
“In Q3 we see wood product prices reaching a peak at a level that has produced historically high profitability. At the same time, consumption has continued at a good level,” says Setra CEO Katarina Levin.
Setra is reporting a significant earnings improvement of SEK 1,163 million January to September in 2021, compared with the previous year.
In early September, Pyrocell started production in Gävle; Sweden’s first pyrolisis oil plant for biofuels. The new and groundbreaking factory is turning sawdust into bio-oil. Jointly owned by Setra and Preem, Pyrocell was formed in 2018 based on the business concept of producing bio-oil from sawdust.
In July it was announced that Setra is investing in a new saw line for small-diameter logs at the sawmill in Skinnskatteberg. The investment, which will produce major efficiency improvements, is an important step in Setra’s construction strategy and enables concentrated, highly efficient production in a safe working environment in the small-diameter log range in Setra’s southern raw material area.
Cash flow from operating activities amounted to SEK 571 million (-11) in the third quarters, and for the first nine months amounted to 1,009 (392). Net cash totalled SEK 530 million (230) at the end of the period.
| Key figures* | Jul–Sept (3 months) | Jan–Sep (9 months) | ||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||
| Net sales, SEKm | 1,565 | 840 | 4,278 | 3,043 | ||||||
| Operating profit/loss, SEKm | 600 | -3 | 1,219 | 56 | ||||||
| Profit/loss after tax, SEKm | 473 | -7 | 958 | 29 | ||||||
| Operating margin, % | 38.3 | -0.4 | 28.5 | 1.8 | ||||||
| Return on operating capital, %, RTM | 70 | -1.8 | ||||||||
| Cash flow from operating activities, SEKm | 571 | -11 | 1,009 | 392 | ||||||
*Setra does not publish a complete period-end report.
For further information, please contact:
Katarina Levin, President and CEO, phone +46 8 705 03 10, mobile +46 70 594 92 54
Johanna Gydingsgård, CFO, phone +46 8 705 03 03, mobile +46 72 453 85 41
At Setra, we believe in “Grönsamhet”. When a business profits everyone, we call that “Grönsamhet”. 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