Moelven posted a NOK 420 million ($53.2 million) profit on the company's operations in 2017. This is an earnings improvement of NOK 125 million ($15.8 million), compared to the previous year, as the company says in the press release received by Lesprom Network.
CEO Morten Kristiansen of Moelven Industrier ASA is pleased with the past year and says that the earnings improvement is due to a combination of more efficient operations and favourable international market conditions.
For the year as a whole the operating revenues increased by 4.5% to NOK 10,768 million ($1.36 billion), compared to NOK 10,310 million ($1.30 billion) in 2016, while in the last quarter revenues increased by a significant 12% to NOK 2,709 million ($343 million).
“Operating revenues in the 4Q were significantly higher than for the corresponding period the previous year. The main reasons are increased prices for sawn timber, satisfactory activity in the building materials trade in Scandinavia, and a higher level of activity in the building modules and glulam product areas. The operating result for the quarter was a huge NOK 125 million ($15.8 million) and the operating margin improved to 4.6%.”
As a wood products company, Moelven delivers sawn goods, planed construction material and interior products, glulam, modular buildings and building solutions.
