25 May, 20:02
Holmen’s operating profit for January–March 2017 was SEK 627 million ($72.3 million), compared to SEK 580 million ($66.9 million) in 1Q 2016. The improvement in profit was mainly due to higher earnings from paper and wood products, as the company said in the press release received by Lesprom Network.
Compared with the 4Q 2016, operating profit increased by SEK 48 million ($5.5 million) due to higher paperboard deliveries, better prices and a better product mix for wood products, as well as seasonally higher hydro power production.
Profit after tax for 1Q 2017 amounted to SEK 485 million ($56 million), compared to SEK 222 million ($25.6 million) in 1Q 2016, which corresponds to earnings per share of SEK 5.8.
1Q 2017 sales grow 7.9% to SEK 4.13 billion ($476 million), compared to SEK 3.8 billion ($438 million) in 1Q 2016. Sales performance was good, with an improved product and market mix. Paperboard production has stabilised at a higher level following investments. In April, Linghem Sawmill was acquired to strengthen the raw material supply for Braviken Sawmill and expand the product offering. The cash-flow yield on own forests was seasonally high, at 5%.
Holmen is a forest industry group that manufactures paperboard, paper and wood products and runs forestry and energy production operations.