Wood products company Setra has reported an operating profit of SEK 233 million ($26.4 million) for the first half of 2018. Net sales totalled SEK 2,359 million ($267 million). Operating profit for the 2Q amounted to SEK 141 million ($16 million), with net sales of SEK 1,229 million ($139 million), as the company said in the press release received by Lesprom Network.
“We’re reporting an operating profit of SEK 233 million ($26.4 million) for the first half of 2018, which is an improvement of SEK 143 million ($16.2 million) on the previous year. The continued positive development of the wood products market has enabled us to increase sales prices as well as sales and production volumes. We envisage a continued strong market for wood products and good demand among our customers moving forward,” said Hannele Arvonen, President and CEO at Setra.
Cash flow from operating activities in the first half of the year was SEK 111 million ($12.6 million). The Group’s financial position is strong. The Group’s financial net debt amounted to SEK 41 million ($4.6 million) at the end of the period, which corresponds to a net debt/equity ratio of 3%.
Setra is one of Sweden’s largest wood products companies.
