Holmen’s operating profit for the 1Q 2016 was SEK 580 million ($71 million), excluding items affecting comparability, which were SEK 184 million ($22.5 million) higher than in the 1Q 2015 and SEK 204 million ($25 million) higher than in the 4Q 2015.

圆木

Holmen’s 1Q operating profit increased by 46% to SEK 580 million ($71 million)

May 11, 2016. /Lesprom Network/. Holmen’s operating profit for the 1Q 2016 was SEK 580 million ($71 million), excluding items affecting comparability, which were SEK 184 million ($22.5 million) higher than in the 1Q 2015 and SEK 204 million ($25 million) higher than in the 4Q 2015, as the company said in the press release received by Lesprom Network.

A shutdown for rebuild of a board machine had a negative effect of just over SEK 60 million ($7.4 million) on earnings for the quarter, but this was offset by a dispute over water costs for a corresponding amount being settled in Holmen’s favour. Earnings from timber trading were high and depreciation decreased. Both the 1Q 2015 and the 4Q 2015 were negatively affected by maintenance and rebuilding shutdowns.

Operating profit after items affecting comparability amounted to SEK 348 million ($42.7 million). The quarter was impacted by a net amount of SEK -232 million ($28.4 million) in items affecting comparability regarding the sale of the Group’s Spanish operations and insurance compensation for reconstruction following the fire at Hallsta Paper Mill.

Profit after tax for January–March amounted to SEK 222 million ($27.2 million). Excluding items affecting comparability, profit after tax amounted to SEK 450 million ($55.2 million).

Holmen is a forest industry group that manufactures printing paper, paperboard and sawn timber and runs forestry and energy production operations.