Bergs Timber's net sales for 1Q 2020 declined by 3% to SEK 856 million ($86.5 million), compared to SEK 885 million ($89.4 million)in the 1Q 2019. The decrease of SEK 29 million ($2.9 million) is mainly explained by lower sales prices for sawn products.
1Q 2020 net profit was SEK 6 million, compared to SEK 52 million ($5.2 million) in the 1Q 2019.
1Q 2020 adjusted EBITDA decreased to SEK 50 million($5 million), which corresponds to an adjusted EBITDA-margin of 5.9%. The decrease was mainly due to lower sales prices for sawn products and lower production volumes for the sawmills. Lower costs for raw material and currency effects had a positive impact on the result.
Peter Nilsson, CEO, said: “The result for the quarter was the best since the 1Q last year. During the winter, certain production curtailments were implemented which, together with an extensive labour dispute at Finnish sawmills, led to a lower supply of wood products. The reduced supply combined with good demand has resulted in lower stocks for the season and that certain price increases have been implemented.”
With wood as a raw material, Bergs produces processed wood products from sustainably managed forests in the Baltic Sea region. Its operations – conducted through wholly owned subsidiaries in Sweden, Estonia, Latvia and the UK – encompass sawmills and processing as well as distribution and logistics.
