Moelven posted a NOK 335 million ($40.6 million) profit on the company's operations in 2016. This is an improvement of the operating profit of NOK 120 million ($14.5 million) compared to the previous year. In 2016 operating revenues increased by 6.8% to NOK 10,350 million ($1.2 billion), compared to NOK 9,690 million ($1.1 million) in 2015, as the company said in the press release received by Lesprom Network.
However, CEO Morten Kristansen of Moelven says that the operating result for the final quarter of NOK 64 million ($7.8 million) is at the same level as the previous year.
“Operating revenues in the 4Q dropped by 1.1% to NOK 2,456 million ($297 million). The reduction is due to the sale of operations,” Morten Kristansen says.
Kristiansen says that the reason for the good operating result is restructuring and efficiency measures in several companies in the group.
“Improvement and efficiency work will continue, and there are interesting projects going on throughout the group. The two largest sawmills we have in Sweden – Moelven Valåsen AB and Moelven Notnäs AB – are in the process of major organisational change. At the same time investments of around SEK 160 million ($18.1 million) are planned in machinery and equipment. The measures are scheduled for completion in the summer of 2019,” Morten Kristiansen says.
As a wood products company, Moelven delivers sawn goods, planed construction material and interior products, glulam, modular buildings and building solutions.
