Report for the first quarter of 2012
Wood products company Setra reports net sales of SEK 1,065 million (1,102) for the first quarter of 2012. Operating result for the period January-March amounted to SEK -27 million (-48). The quarter ended on a positive note.
“Setra reports an operating loss of SEK 27 million for the first quarter, which is better than in the previous year and also exceeded our expectations. It is particularly gratifying that the quarter ended on a positive note and that we showed a clear profit in March,” says Börje Bengtsson, President and CEO of Setra.
“Nothing dramatic has happened but we note a slight improvement in all markets. Volumes are increasing, market prices are slowing rising and at the same time raw material prices have stabilised at a slightly lower level,” says Bengtsson.
“The winter months are traditionally a weak period for the wood products industry,” says Bengtsson. “Now we have spring and summer when activities in the construction market usually increase. Our order situation ahead of the high season is favourable and we view continued market development with cautious optimism.”
KEY FIGURES (SEKm) January-March 2012
Net sales 1,065 (1,102)
Operating profit/loss -27 (-48)
Profit/loss after tax -29 (-43)
SOME IMPORTANT EVENTS IN THE FIRST QUARTER OF 2012:
- Johan Padel, previously Managing Director of Moelven Timber, has been appointed as the new President and CEO. He will take up his position on 1 August when he will succeed Börje Bengtsson who is retiring in the autumn.
- Changes in Setra’s Group Management: Mikael Eliasson, Business Development Director, has been appointed as new head of the Redwood business area.
- Setra’s subsidiary Plusshus has decided to discontinue its box unit factory in Arvidsjaur. A total of 20 employees are affected.
- Hans Liljeström was appointed as new manager for the Skinnskatteberg sawmill.
For further information, please contact:
Börje Bengtsson, President and CEO, telephone +46 8 705 03 10, mobile +46 708 28 49 87
Stefan Lundin, CFO, telephone +46 8 705 03 01, mobile +46 702 22 65 07
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. Setra has 1,000 employees and annual sales of approximately SEK 4.5 billion. Exports to Europe, North Africa, the Middle East and Japan account for almost 60% of sales.
Press contact: Lotta Löwhagen Lundberg, lotta.lowhagen.lundberg@setragroup.com, +46 706 54 13 44
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