Swedish sawmilling group Bergkvist Siljan reported 1Q 2021 net sales of SEK 620 million ($75 million), compared to SEK 747 million ($90.4 million) in the 1Q 2020. The decrease in net sales is partly explained by the planned slightly lower production at the Mora sawmill, however mainly attributable to structural differences compared to the previous period due to the closedown of operations in Växjö and changed structure of the raw material organization.
1Q 2021 EBITDA was SEK 87 million ($10.5 million), with an EBITDA margin of 14%. Operating profit was SEK 71 million ($8.6 million), with an EBIT margin of 11.4%.
The profitability increase is driven by the favorable market for sawn wood products as well as the full effect of the synergies implemented during the previous year. The Group’s cash flow has remained strong during the period, driven by the underlying results.
Anders Nilsson, CEO Bergkvist Siljan, said: “The market conditions have been favourable during the quarter, which combined with the full effect of the implemented synergies during 2020 resulted in a strong improvement of the Group’s profitability compared to the same period last year.”
Bergkvist Siljan is a leading Swedish sawmilling group supplying sawn wood products to customers mainly in East Asia, Western Europe and North Africa.
