Sveaskog’s interim report January–September 2026: A market that remains challenging in an uncertain world

We are seeing the effects of lower timber prices, and operating profit amounted to MSEK 242, which is 37 per cent lower than in the same period last year. However, the decrease in operating profit is offset somewhat by higher volumes.

1 July – 30 September 2026

• Net sales decreased by 10 per cent to MSEK 1,585 (1,769). The change is attributable to lower timber prices, which decreased by an average of 15 per cent, while the volume effect increased by 3 per cent. Other sales increased by 1 per cent.
• The operating profit decreased by 37 per cent to MSEK 242 (386). The decrease is mainly attributable to lower timber prices, which are partially offset by higher volumes. The average prices of deliveries from Sveaskog’s own forest decreased by 16 per cent from the corresponding period of the previous year.
• Share of profits of associates amounted to MSEK 3 (24). The sale of Sveaskog’s shareholding in the associate Sunpine AB to VAROPreem Sverige AB was completed during the quarter. The final capital gain amounted to MSEK 151 and was recognised under financial items.
• The reported net change in value of biological assets amounted to MSEK 192 (-257). The difference compared with the previous year is now primarily attributable to a change in the valuation method used in the quarterly financial statements, which now takes into account both harvesting and growth.
• Profit for the quarter amounted to MSEK 421 (106), equivalent to SEK 3.55 (0.90) per share.

1 January – 30 September 2026 

• Net sales decreased by 9 per cent to MSEK 5,933 (6,548). The change is attributable to lower timber prices, which decreased by an average of 11 per cent, while the volume effect increased by 1 per cent. Other sales remained unchanged.
• The operating profit decreased by 31 per cent to MSEK 1,351 (1,965). The decrease is mainly attributable to lower timber prices. The average prices of deliveries from Sveaskog’s own forest decreased by 13 per cent from the corresponding period of the previous year.
• A number of property deals resulted in a capital gain of MSEK 340 (2).
• Share of profits of associates amounted to MSEK 8 (45). The sale of Sveaskog’s shareholding in the associate Sunpine AB to VAROPreem Sverige AB was completed during the third quarter. The final capital gain amounted to MSEK 151 and was recognised under financial items.
• The reported net change in value of biological assets amounted to MSEK 544 (-731). The difference compared with the previous year is now primarily attributable to a change in the valuation method used in the quarterly financial statements, which now takes into account both harvesting and growth.
• Profit for the period amounted to MSEK 1,790 (594), equivalent to SEK 15.12 (5.02) per share.

Comment from Sveaskog’s President and CEO Erik Brandsma: 

- This autumn is marked by geopolitical unrest, trade barriers and a Europe that is getting prepared. U.S. tariffs on sawn timber, an uncertain interest rate environment and a weak construction market are affecting our customers. At the same time, the need for effective emergency preparedness, security of supply and climate transition makes forests more important than they have been in a long time. It is within this broader context that we, as the country’s largest forest owner, operate.

- The market situation for our customers improved slightly during the quarter, but sawmills’ profitability remains under pressure, and the recovery in the pulp, paper and packaging sectors is uneven. Storm-damaged trees have led to a local surplus of timber, while low harvesting activity is raising concerns about the future supply of timber and pulpwood

- This past summer, we completed the sale of our share holding in Sunpine, which is now well-established and has a strong market position. A successful divestment is a logical step for Sveaskog and is in line with our strategy.

For more information, please contact:

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

Emma Rönnmark, CFO, +46 (0)10-471 83 82

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.