Setra’s interim report for January-March 2015
Wood products company Setra reports an operating profit of SEK 24 million (67) for the first quarter of 2015. Net sales for the quarter totalled SEK 1,041 million (1,065).
“The uncertain market situation in autumn last year continued during the first quarter. Increased production of wood products has led to a build-up of stocks at producers. This has resulted in a price fall for our products which was compensated to some extent by the weaker Swedish krona,” says Hannele Arvonen, President and CEO of Setra.
“We continue to focus on the things that we can influence and can confirm that our internal efficiency improvement programmes have reduced our costs. We have a strong cash flow due to positive earnings and a favourable balance between delivery volumes and production. It is also gratifying that our position in the Chinese market continues to strengthen,” says Arvonen.
During the quarter decisions were made on technology investments in the Malå and Färila sawmills designed to further improve efficiency and flexibility and meet new customer demands.
Cash flow from operating activities in the first quarter of 2015 amounted to SEK 44 million
(-40) which combined with positive earnings means that Setra’s financial position has strengthened. The net debt/equity ratio at the end of the period amounted to 24% (36).
Setra Group AB’s Annual General Meeting was held today and the Meeting resolved on a dividend for the 2014 financial year of SEK 1.25 per share, in total approx. SEK 64 million.
| Key figures | Jan-Mar | ||||
| 2015 | 2014 | ||||
| Net sales, SEKm | 1,041 | 1,065 | |||
| Operating profit, SEKm | 24 | 67 | |||
| Profit after tax, SEKm | 14 | 46 | |||
| Operating margin, % | 2.3 | 6.3 | |||
| Return on operating capital, %, rolling 12 monthsCash flow, SEKm | 9.644 |
12.2-40 | |||
For further information, please contact:
Hannele Arvonen, President and CEO, telephone +46 8 705 03 10, mobile +46 706 18 19 17
Anders Marklund, CFO, telephone +46 8 705 03 03, mobile +46 702 84 47 96
Setra does not publish a complete quarterly report.
Setra is one of Sweden’s largest wood products companies and a leading player in Europe. We process raw material from responsibly managed forests and offer climate-friendly products and solutions for building and living in a global market. The Group has approximately 900 employees and annual sales of SEK 4.2 billion. Exports to Europe, North Africa, the Middle East and Asia account for about 60% of sales.
Read more at www.setragroup.com.
Press contact: Lotta Löwhagen Lundberg, lotta.lowhagen.lundberg@setragroup.com, +46 706 54 13 44
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