Operating revenues in the 4Q increased by 15% to NOK 2,483 million (NOK 2,151 million in the same period of 2014), and the operating result was NOK 65 million ($7.5 million).
CEO Morten Kristiansen is satisfied that the group further increased its operating revenue and improved on its operating result from the previous year. “This has been a year with great emphasis on internal improvement work and restructuring. Now our work appears to be paying off. The improved result is closely linked to the group's increase in operating revenue. Overall, Timber and Wood had somewhat lower prices than in the 4Q last year. Within Building Systems it is in particular the Building Module and glulam business in Sweden and Moelven Modus that are responsible for improvements. Individual units in Sweden are providing record results,” Kristiansen says.
The gross operating margin (EBITDA) in 2015 increased to 5.7% from 5.6% in 2014, while return on capital employed (ROCE) for the year improved to 7.4% from 6.8% in 2014.
“Improvements in 2015 are satisfactory. Improvement and restructuring measures to achieve the long-term goals are going according to plan. Net interest-bearing debt has dropped by close to a quarter billion NOK from 2014 to 2015, and equity has increased by NOK 165 million ($19 million) to NOK 1,757 million,” says Kristansen.
In the final quarter of the year a dividend of NOK 52 million ($6 million) was disbursed.
Moelven delivers sawn goods, planed construction material and interior products, glulam, modular buildings and building solutions.
