Sveaskog’s Interim Report January-March 2021: Positive Result and Continued Good Market
Sveaskog’s operating profit totalled MSEK 418 (466), with the lower delivery volumes during the quarter being the main reason for the decrease.
January – March 2021
- Net sales decreased by six per cent to MSEK 1,693 (1,801). Total delivery volumes were down by six nine per cent, while average prices of wood raw materials remained unchanged.
- The operating profit decreased by ten per cent to MSEK 418 (466). The reduced profit is due to lower delivery volumes.
- The reported net change in value of standing timber was MSEK 118 (153).
- Profit for the quarter was MSEK 480 (515), equivalent to SEK 4.05 (4.35) per share.
Comments from Sveaskog's President och CEO Per Matses: “Despite lower deliveries in the first quarter, it is estimated that for the full year we will deliver in line with the previous year.”
“The market situation is very good for the Swedish forest industry, and especially for sawmills, where strong demand resulted in reduced stock levels of finished goods and rising timber prices.”
“At the beginning of the year, Sveaskog’s Board of Directors made a decision on the company’s long-term focus. We will make a posit shift by taking measures to increase growth in the forest and thereby in the long term also the possibility of increased timber extraction.”
“For a little over a year, we have had to deal with the coronavirus pandemic. Last spring we faced major uncertainties and made plans for a number of scenarios. It is a fact that the pandemic has lasted longer than anyone could have foreseen and has resulted in many people working in new ways. Those of us who can continue to work primarily from home. Our core business – supplying wood raw materials to our customers – is going well and, as already mentioned, our customers are experiencing a very good market situation.”