In the year’s 3Q the Moelven Group earned NOK 84 million ($10.3 million), compared to NOK 66 million ($8 million) in the corresponding period the previous year. Revenues in the 3Q were NOK 2,441 million ($299 million).

Wooden Panels

Moelven earned NOK 84 million ($10.3 million) in 3Q

Moelven earned NOK 296 million ($36.2 million) in January-September 2017. Moelven improved its operating result for the first nine months by NOK 24 million ($2.9 million), compared with the corresponding period last year, as the company said in the press release received by Lesprom Network.

In the results for the first nine months the Group has entered a total of NOK 46 million ($5.6 million) as costs as a result of the decision to discontinue activities at Moelven Norsälven AB and resolution of a dispute related to a larger project in the Building Systems division. The underlying operating improvement so far this year is NOK 71 million ($8.7 million), compared to the corresponding period last year.

In the year’s 3Q the Group earned NOK 84 million ($10.3 million), compared to NOK 66 million ($8 million) in the corresponding period the previous year. Revenues in the 3Q were NOK 2,441 million ($299 million).

“Demand for the Group’s products and services developed as expected and was satisfactory overall,” says CEO Morten Kristiansen of Moelven Industrier ASA.

“We increased sales in the latest quarter and year to date by NOK 82 million ($10 million) and NOK 166 million ($20.3 million) respectively compared to the same periods last year. There has been good demand for sawn timber internationally, satisfactory activity in the building materials trade in Scandinavia and a healthy level of activity and a good order backlog in the Building Systems project division,” Kristiansen says.

For the Group as a whole revenues are expected to increase somewhat. The programme for operational improvement and structuring of the Group in line with the long-term strategy plan continues unabated and will contribute to continued improved profitability for the underlying operations.

As a wood products company, Moelven delivers sawn goods, planed construction material and interior products, glulam, modular buildings and building solutions.