During the prolonged financial year 1 September 2017-31 December 2018 (16 months), Bergs Timber’s net sales amounted to SEK 3,031 million ($330 million). The increase of SEK 1,372 million ($149 million) is explained by the acquisition of the Norvik companies, included in the Group's net sales from 15 May 2018, with SEK 1,158 million ($126 million) and increase in net sales for comparable entities with SEK 214 million ($23.3 million), primarily due to higher selling prices for timber and by-products. The operating profit improved to SEK 229 million ($24.9 million), corresponding to an operating margin of 7.6%, as the company said in the press release received by Lesprom Network.
The acquired companies contributed with SEK 78 million ($8.5 million). The improved result for the comparable entities, SEK 96 million ($10.4 million), is primarily due to higher prices for sawn timber products and by-products as well as a good mix of products. The prices for raw materials have increased during the period, which has had a negative impact on operating profit. Adjusted for the transaction costs related to the acquisition, SEK 7 million ($760,869) , the operating profit for the period was SEK 236 million ($25.6 million).
Sales volumes of sawn products for the period 1 September 2017-31 December 2018 from the Swedish sawmills amounted to 661,000 cubic meters, an increase with 13,000 cubic meters compared to the same period 2016/17. The sales volume from the Baltic sawmills from May 2018 was 239,000 cubic meters. Production in the Swedish sawmills for the period 1 September 2017-31 December 2018 was 663,000 cubic meters, an increase with 27,000 compared to the same period 2016/17. The increase is due to the acquisition of the sawmill in Vimmerby, which has been part of the Group since 9 January 2017. The production in the Baltic sawmills from May 2018 was 233,000 cubic meters.
Bergs Timber produces and sells sawn and further processed wood products. It operates its production facilities in Sweden, Estonia and Latvia. The Group also includes its own port and logistics operations in England.
