Moelven Industrier ASA achieved earnings of NOK 308.9 million ($37 million) in the first six months of 2018. This is an increase of NOK 51.4 million ($6 million), compared to the first six months of last year. Revenue in the 1H 2018 was NOK 5773.4 million, compared to NOK 5618.9 in the 1H 2017, as the company said in the press release received by Lesprom Network.
CEO Morten Kristiansen of Moelven Industrier ASA can look back at one of the best half-year results in Moelven’s history. “International demand for sawn timber remains high, and the Timber division has made a strong contribution to good results in the Moelven Group. We have also had a normal high season for the building products trade in Norway and Sweden, although it appears that the building season started off somewhat later than usual. For The Building Systems division, which comprises glulam, building modules and system interiors, the first six months have overall been slightly weaker than the previous year, but it is pleasing to see that the figures for the second quarter are better than in 2017,” Kristiansen explains.
Operating revenues in the 2Q 2018 increased compared to the 2Q 2017. The backdrop is increased finished goods prices for both sawn timber and processed wood products. Operating revenues in the 2Q increased to NOK 3,055.7 million (2,941.5 million).
2Q operating profit increased to NOK 219.8 million ($26.2 million), compared to NOK 156.1 million ($18.6 million) in the 2Q 2017.
As a wood products company, Moelven delivers sawn goods, planed construction material and interior products, glulam, modular buildings and building solutions.
