Year-End Report 2004

Setra Group AB (publ) is Sweden’s largest wood products company with annual sales totalling approximately SEK 5,500 million and some 1,450 employees. The Group is divided into two business areas: Setra Sawn Products and Setra Wood Products.

Compared with third quarter of 2004
• Net sales amounted to SEK 1,366 million (1,190).
• Operating loss reached SEK -54 million (-13).
• Loss after financial items amounted to SEK -62 million (-21).
• Cash flow from operating activities amounted to SEK -35 million (196).
• The decline in earnings is mainly an effect of continued price falls for sawn timber.

Compared with 2003 (2003 is pro forma)
• Net sales amounted to SEK 5,279 million (5,424).
• Operating loss reached SEK -70 million (99).
• Loss after financial items amounted to SEK -108 million (52).
• Cash flow from operating activities amounted to SEK 59 million (346).
• Less favourable result mainly attributable to lower margins within the Sawn Products business area.