Setra’s report for the period January-September 2012

Setra reports an operating loss for the period January-September 2012 of SEK 24 million (+1). The operating loss for the third quarter was SEK 26 million (+9). Net sales for the period January-September amounted to SEK 3,118 million (3,400) and SEK 881 million (974) for the third quarter.

“Given the pressure in the sawmill industry at the moment, Setra’s operating loss for the third quarter of SEK 26 million can be regarded as acceptable,” says Johan Padel, President and CEO of Setra. “The entire loss for the quarter is attributable to the normally weak holiday month of July, otherwise we have a tentatively positive operating result.”

“It is particularly gratifying that we can see results from our active efforts to reduce stock levels,” Padel continues. “Cash flow for the third quarter amounted to SEK 166 million (146).

“It looks as if the autumn will continue to be tough for the export-dependent wood products industry,” says Padel. “A strong krona combined with very hesitant demand for wood products, is putting strong pressure on profitability in the industry.”

SOME IMPORTANT EVENTS IN THE THIRD QUARTER OF 2012:

-          Johan Padel, former Managing Director of Moelven Timber, took over as the new President and CEO of Setra on 1 August. He succeeded Börje Bengtsson who has retired.

-          Negotiations relating to the closure of the Horndal sawmill in Avesta municipality were completed in August. The cost will be charged to earnings in the fourth quarter.

-          Two new members were appointed to Setra’s Group Management. Olle Berg, previously Stora Enso Building & Living, will take up the position of Market and Business Development Director after the end of the year. Pontus Friberg, previously head of IT at Setra, is the new Business Support Director since 1 October, responsible for groupwide support functions such as environment, purchasing, logistics and IT.

For further information please contact:

Johan Padel, President & CEO, telephone +46 8 705 03 10, mobile +46 702 14 82 44

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.

The Group 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. Read more at www.setragroup.com

Press contact: Lotta Löwhagen Lundberg, lotta.lowhagen.lundberg@setragroup.com, +46 70 654 13 44

Tags: