Positive second quarter for Setra
Setra reports an operating profit of SEK 59 million (29) for the second quarter, which corresponds to an operating margin of 5%. Operating profit for the first half of the year amounted to SEK 33 million (2).
“We report an operating margin of 5% for the second quarter which, taking into account the present economic situation and the strengthening of the Swedish krona during the year, must be regarded as acceptable,” says Stefan Lundin, Acting CEO, and CFO of Setra.
“The improved earnings compared with the previous year are mainly explained by a stronger gross margin and lower fixed costs. Delivery volumes rose by 2% during the first half of the year compared with the same period a year ago. Despite improved profitability, margins remain at an unsatisfactory level and therefore work on internal efficiency improvements continues to be given high priority,” says Lundin.
“We are seeing the biggest volume increases in Japan and China,” Lundin continues. “Sales to North Africa and the Middle East remain at an unchanged level. This year’s sales to the Swedish building materials trade had a weak start due to the cold spring, but have accelerated in pace with the warmer weather.
“The market situation remains fragile and difficult to assess,” says Lundin. “The price increases which could be implemented during the spring are more a sign of reduced production and low stocks rather than increased demand.”
| Key figures, SEKm | April-June | January-June | |||
| 2013 | 2012 | 2013 | 2012 | ||
| Net sales | 1,195 | 1,172 | 2,140 | 2,237 | |
| Operating profit | 59 | 29 | 33 | 2 | |
| Profit/loss after tax | 38 | 13 | 10 | -16 | |
For further information, please contact:
Stefan Lundin, Acting CEO, and CFO, telephone +46 8 705 03 01, mobile +46 702 22 65 07
Setra does not publish a complete six-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
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