Holmen's operating profit excluding items affecting comparability for 2018 increased by SEK 310 million ($34.4 million) to SEK 2 476 million ($275 million) as a result of higher profits from forests and wood products. Profit after tax for 2018 was SEK 2 268 million ($252 million), compared to SEK 1 668 million ($185 million) in 2017, as the company said in the press release received by Lesprom Network.
4Q 2018 sales were SEK 3948 million ($438.6 million), up from SEK 3908 million ($434.2 million) in the 4Q 2017.
In the 4Q 2018, SEK 94 million ($10.4 million) was recognised as an item affecting comparability regarding costs for a savings programme in paperboard.
Compared with the 3Q, operating profit excluding items affecting comparability increased by SEK 22 million ($2.4 million) to SEK 613 million ($68.1 million).
Henrik Sjölund, President and CEO, comments: “Operating profit for 2018 increased by just over SEK 300 million ($33.3 million) to almost SEK 2.5 billion ($275 million) and return on capital employed increased to almost 10%. Cash flow was good and our financial position was further strengthened.”
Holmen is a forest industry group that manufactures paperboard, paper and wood products and runs forestry and energy production operations.