Setra year-end report 2014
Wood products company Setra reports an operating profit of SEK 201 million (107) for 2014, an earnings improvement of SEK 94 million compared with 2013. Net sales for the full year amounted to SEK 4,194 million (4,068).
“A positive market situation during most of the year and favourable currency effects are the key explanations for Setra’s positive earnings development. We focus on the things that we can influence and implement efficiency measures to improve our long-term competitiveness. As part of these efforts, we made investments in technology at the Färila and Nyby sawmills during the year,” says Hannele Arvonen, President and CEO of Setra.
Setra’s sales of wood products to the markets in Asia, especially China, showed strong development in 2014. Sales to the Middle East and North Africa, which account for about 20% of Setra’s total sales, were stable. The sales trend in several European markets, including Germany, continued to decline.
“We entered a more uncertain market in the fourth quarter and we can see no clear signs that this instability will change significantly in the immediate future. It feels secure that we further strengthened our financial position during the year when we now enter a tougher period,” says Arvonen.
Cash flow from operating activities for 2014 amounted to SEK 112 million (262) which, combined with positive earnings, means that the net debt/equity ratio could be reduced to 27% (33) at year-end.
The Board proposes a dividend of SEK 1.25 per share for 2014.
| Key figures | Oct-Dec (3 months) | Jan-Dec (full year) | |||
| 2014 | 2013 | 2014 | 2013 | ||
| Net sales, SEKm | 1,032 | 1,005 | 4,194 | 4,068 | |
| Operating profit, SEKm | 9 | 47 | 201 | 107 | |
| Profit after tax, SEKm | 2 | 35 | 133 | 60 | |
| Operating margin, % | 0.9 | 4.7 | 4.8 | 2.6 | |
| Return on operating capital, % | 12.4 | 6.5 | |||
For further information, please contact:
Hannele Arvonen, President and CEO, telephone +46 8 705 03 10, mobile +46 706 18 19 17
Anders Marklund, acting CFO, telephone +46 8 705 03 03, mobile +46 702 84 47 96
Setra does not publish a complete year-end 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 construction and homes 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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