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We issue financial reports quarterly and our annual report and sustainability report in March of each year.
January – December 2020
Net sales decreased by eight per cent to MSEK 6,597 (7,209). Prices of wood raw materials were down by nine per cent on average while total delivery volumes declined one per cent.
Operating profit decreased by 24 per cent to MSEK 1,120 (1,483). 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 higher delivery volumes from our own forests. Deliveries from externally sourced wood raw materials have decreased.
The dividend yield was 2.4 per cent (4.9). The change is mainly attributed to the increase in the average operating capital through a change in the accounting method for valuation of forest assets.
At the end of the year, Sveaskog changed the accounting method for valuing the company’s forest assets so that it is based on the market value calculated on transactions in the areas where Sveaskog owns forest assets. We are therefore following the lead of other major companies in the industry. The effect of the revaluation of the year’s operating profit was net after tax SEK 9.9 billion. The remaining part of the revaluation has been recognized directly in other comprehensive income. The change in value had no impact on cash flow.
Profit for the year amounted to MSEK 10,867 (1,558), corresponding to SEK 91.78 (13.16) per share, which is mainly related to a positive impact on profit of a net SEK 9.5 billion from the change in accounting method for valuation of forest assets.
The exclusive effect of the change in accounting method for valuation of forest assets decreased the profit per share to SEK 8.08 (13.16).
January 27: Year-end report 2020
April 26: Interim Report: January-March 2021
April 26: Annual General Meeting 2021
July 16: Interim Report: January-June 2021
October 26: Interim Report: January-September 2021