Wood products company Setra reports an operating profit of SEK 153 million ($17.4 million) for the full year 2016. This profit includes non-recurring items in an amount of SEK 38 million ($4.3 million). Net sales totalled SEK 4,043 million ($460 million), as the company said in the press release received by Lesprom Network.
“The market for wood products has developed in a positive direction during the year. As a result we have been able to increase production which, combined with a favourable currency trend, has contributed towards our increased earnings. We see continued good demand for wood products and an improved stock situation compared with the same time last year. This means that we are positive about the development of the wood products market during 2017,” says Hannele Arvonen, President and CEO of Setra.
Cash flow from operating activities for 2016 amounted to SEK 185 million ($21 million). The Group’s financial position is strong. The Group’s net financial debt amounted to SEK 115 million ($13 million) at year-end which corresponds to a net debt/equity ratio of 9%.
Setra is one of Sweden’s largest wood products companies.
