Moelven’s 3Q operating revenues decreased to NOK 43.6 million ($4.8 million)

Posted November 8, 2019
Moelven Industrier ASA achieved operating revenues of NOK 43.6 million ($4.8 million) in the 3Q 2019. This is a decrease of NOK 86 million ($9.5 million) compared to the same period of 2018, as the company said in the press release received by Lesprom Network.

“This quarter was characterised by the more demanding market conditions that were becoming apparent at our half-year reporting. At the same time, we are confident that our climate-smart products and solutions will not go out of fashion any time soon. There are numerous opportunities, even though the market is adjusting its pace,” says CEO Morten Kristiansen of Moelven Industrier ASA.

Moelven reported sales of NOK 2,347.3 million ($260.8 million) in the 3Q 2019. This is a reduction of NOK 146.7 million ($16.3 million) compared to 2018, which was one of Moelven’s best years in history.

“The uncertainty in the world economy impacts the Timber Division, which supplies wood products to industrial markets at home and abroad. This part of operations is characterised by a large supply of timber in the market as a result of storm fellings and bark beetle attacks, mainly in southern Europe, which has resulted in a change in demand. For the Building Systems Division, with glulam, office solutions and building modules, the order situation is improving. The Wood Division, which is aimed at the construction industry and building materials trade, is experiencing an increase in operating revenues compared to last year,” Kristiansen explains.

As a wood products company, Moelven delivers sawn goods, planed construction material and interior products, glulam, modular buildings and building solutions.

+7 499 6535608
Ordzhonikidze, 11 109028 Moscow, Russia

Tags: Moelven

Topics: Finance

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