Sveaskog’s interim report January – September 2025: Strong earnings in an increasingly uncertain world

1 July – 30 September 2025 

• Net sales increased by 3 per cent to MSEK 1,769 (1,718). Timber prices increased by an average of 9 per cent, while delivery volumes decreased by 5 per cent. Other sales decreased by 1 per cent.
• The operating profit decreased by 2per cent to MSEK 386 (392). The decrease is attribute able to provisions of MSEK 80, which were reversed in the corresponding quarter of 2024. The average prices of deliveries from Sveaskog’s own forest increased by 13 per cent from the corresponding period of the previous year.
• Share of profits of associates amounted to a profit of MSEK 24 (loss: 29).
• The reported net change in value of biological assets amounted to MSEK -257 (-39). The decrease is mainly due to changes in valuation methodology that were introduced in connection with the 2024 annual financial statements.
• Profit for the quarter amounted to MSEK 106 (193), equivalent to SEK 0.90 (1.64) per share. 

1 January – 30 September 2025 

• Net sales increased by 7 per cent to MSEK 6,548 (6,113). Timber prices increased by an average of 13 per cent, while delivery volumes decreased by 7 per cent. Other sales remained unchanged.
• Operating profit increased by 32 per cent and amounted to MSEK 1,965 (1,484). The improvement in earnings is mainly attributable to higher timber prices.
• The average prices of deliveries from Sveaskog’s own forestincreased by 19 per cent from the corresponding period of the previous year.
• Impairment of the value of the associates, regarding the sale of the holding in Setra Group, is charged to profit for the period in an amount of MSEK 235.
• Share of profits of associates amounted to MSEK 45 (-61). The sale of shares in Setra Group AB to Mellanskog AB was completed during the second quarter.
• The reported net change in value of biological assets amounted to MSEK -731 (160). The decrease is mainly due to changes in valuation methodology that were introduced in connection with the 2024 annual financial statements.
• Profit for the period amounted to MSEK 594 (1,116), equivalent to SEK 5.02 (9.43) per share.

Comment from Sveaskog’s President and CEO Erik Brandsma: 

- Sveaskog generated strong earnings in the first nine months of the year. However, the timber market is slowing down and both sawmill and fibre customers are being challenged by the weak economy and declining demand. Nevertheless, they continue to prioritise deliveries from us. This is a sign of our strong position and reliability. In order to adapt to the market situation, we are implementing changes to our operating activities. With the sale of our share in Setra, we can more clearly focus on being forest owners

- In August, the Forest Commission was presented with proposals and ideas on legislative changes and strategies for how Sweden can have a greater impact on forest-related issues within the EU. The Commission is addressing several of the obstacles we see in order to develop more varied and adapted forestry, create order and complement previously presented principles for nature conservation and compensation. A number of points where, regardless of whether one has a conservation perspective or a production perspective, all parties would benefit from clarifying and modernising the regulatory framework.

For more information, please contact:

Erik Brandsma, President and CEO, +46 (0)10-471 81 50

Claes Rasmuson, CFO, +46 (0)10–471 80 20

Sveaskog Press Service, +46 (0)8 655 90 50, press@sveaskog.se

Sveaskog, a state-owned company, is the largest forest owner in Sweden. Our mission is to create value from our forests and land through responsible and long-term management, while contributing to the achievement of Sweden's national environmental and climate goals and the global goals of Agenda 2030. Every day, more than 800 employees work to balance the ecological, economic and social values of forests and land so as to ensure viable forests for the future.