Sveaskogs’s Interim Report January-September 2020
Sveaskog reports an operating profit of MSEK 812 (1,133) for the period January–September 2020, which is 28 per cent lower than in the same period in the previous year.
January – September 2020
- Net sales decreased by nine per cent to MSEK 4,916 (5,396). Prices of wood raw materials decreased by nine per cent on average, while total delivery volumes remained for the most part unchanged.
- Operating profit decreased by 28 per cent to MSEK 812 (1,133). The decrease in profit can be attributed primarily to lower prices and increased costs of forest management, nature conservation and roads, but has been partly offset by a higher share of delivery volumes from our own forests. Deliveries from externally sourced wood raw materials have decreased. The dividend yield, measured over a 12-month period, was 3.7 per cent (5.4).
- The reported net change in value of standing timber was MSEK 464 (426). The change in value had no impact on cash flow.
- Profit for the period January–September totaled MSEK 1,035 (1,286), equivalent to SEK 8.74 (10.86) per share.
Comments from Sveaskog's President och CEO Hannele Arvonen:
“A dip in earnings was expected, as prices of our products declined gradually in 2019, and the trend has continued into 2020. Sveaskog has conducted its forestry operations to date with no operational disruptions during the coronavirus pandemic. Sveaskog contributes to the recovery of society by supporting local contractors through unchanged employment and by refraining from collecting rent from companies that are dependent on tourism.”
“September saw the launch of Entrén, a new web portal aimed at all our contractors. This is a unique initiative that is intended to provide our key contractors with a series of benefits and to strengthen our shared business.”
For more information contact:
Hannele Arvonen, President and CEO Sveaskog, +46 770 787 000
Per Matses, CFO Sveaskog, +46 8 655 92 90
Sveaskog's Press Service, +46 8 655 90 50, email@example.com
Sveaskog is Sweden's largest forest owner. We want to show the way to a sustainable society and be a leader in the development of sustainable forestry. Our most important task is therefore to use the forest so that the climate benefit, biodiversity as well as social and economic values are strengthened both now and for future generations. We have over 800 employees throughout Sweden. Sveaskog is owned by the Swedish state. For more information: www.sveaskog.com