Rorvik Timber records 2Q loss of SEK 32 million ($5 million)

Sep 02, 2011. /Lesprom Network/. Swedish sawmiller Rorvik Timber has seen its loss after tax widen to SEK 32 million ($5 million) in the 2Q, sales were up to SEK 401 million ($62.8 million). For the 1H 2011, Rorvik’s losses after tax swelled to SEK 91 million ($14.2 million), as TTJ reported. Rorvik’s board of directors described the timber market over the past nine months as having gone through the worst crisis since the 1970s, with the industry’s export price index having fallen by a further 8% for pine and 4% for spruce during the first half. However, capacity utilisation across the company’s seven mills should increased from 45% last year to 60% this year, giving an expected 2011 production volume of 600,000 cubic metres. Rorvik said financial uncertainty in European and developments in North Africa and the Middle East meant that construction in most of the major timber-using markets was far below normal.