“We are focusing on those things we have control over. The improvement in earnings is explained by our internal efficiency measures to improve long-term competitiveness combined with market and currency developments,” says Hannele Arvonen, President and CEO of Setra.
Cash flow from operating activities for January-September amounted to SEK 179 million (($24.6 million) and the net debt/equity ratio at the end of the period was 19%.
“Although the long-term global demand for wood products looks positive, there are several short-term challenges. Demand is slowing in key importing countries in Asia and Europe and we are seeing an increasingly supply-driven market with a resulting pressure on prices,” says Arvonen.
Setra is one of Sweden’s largest wood products companies and a leading player in Europe. The company offers eco-certified wood products for interiors and construction to customers in the building materials trade and industry.
