Sveaskog's 3Q 2016 net sales decreased by 5% to SEK 1,222 million ($132.8 million), compared to SEK 1,284 million ($139.6 million) in 3Q 2015, as the company said in the press release received by Lesprom Network.
Operating profit from continuing operations fell by 41% to SEK 173 million ($18.8 million), delivery volumes from own forests fell by 3% and average prices by 2%. Additional costs arising from the clearing of storm-damaged forest had a negative effect on earnings of approximately SEK 10 million ($1.08 million). When comparing changes in profit between years, account must be taken of the positive effect on last year’s result of a capital gain of SEK 47 million ($5.1 million) relating to the sale of development land.
Profit for the 3Q 2016 decreased by 21%, mainly attributable to the lower operating profit from continuing operations, to SEK 206 million ($22.4 million).
Net sales decreased by 4% to SEK 4,373 million ($475.3 million) in January –September 2016. Total delivery volumes decreased by 1% and average prices fell by 2%. Sales of wood raw material totalled 7.9 million cubic metres (m3sub).
Operating profit from continuing operations decreased by 11% to SEK 819 million ($89 million) in January –September 2016. Delivery volumes from own forests decreased by 1% and average prices fell by 2%.
Profit for the period decreased by 16%, attributable to lower operating profit from continuing operations and change in value of forest assets, to SEK 899 million ($297.7 million).
Sveaskog is Sweden’s leading forest company and sells sawlogs, pulpwood, biofuel, forest seedlings and silvicultural services.
