Feb 03, 2010. /Lesprom Network/. Sweden's largest forest owner Sveaskog reported 4Q net sales of SEK 1,653 million ($228,535). Operating profit from operations amounted to SEK 334 million ($46 million). Operating profit amounted to SEK 1,441 million ($199,225), which includes capital gains from the sale of forest properties of SEK 74 million ($10.2 million) and change in value of forest assets of SEK 1,028 ($142,126). Profit for the period amounted to SEK 1,029 million ($142,264), the company said in a press release received by Lesprom Network. Net sales amounted to SEK 6,034 million ($834,231) for the period January-December 2009. Operating profit from operations amounted to SEK 924 million ($127.7 million). Operating profit amounted to SEK 2,915 million ($403,013), which includes capital gains from the sale of forest properties of SEK 407 million ($56.2 million) and change in value of forest assets of SEK 1,723 ($238,213). Profit for the year amounted to SEK 1,924 million ($266,003). Gunnar Olofsson, CEO of Sveaskog comments: “2009 ended on a strong note. The improvement in earnings during the 3Q strengthened further during the 4Q, from SEK 184 million ($25.4 million) to SEK 334 million ($46.2 million). For the full year 2009 operating profit from operations improved by 24% to SEK 924 million ($127.7 million). This despite the fact that net sales decreased by 17% or just over SEK 1.2 billion ($166 million), due to lower sales volumes and average timber prices. One explanation for the improved earnings is a sharp reduction in operating expenses. At the start of the year Sveaskog initiated an efficiency improvement programme and a review of costs and investments. An adjustment of the organisation and some activities being given a lower priority or postponed led to cost savings of over SEK 150 million ($20.7 million). Operating profit was also positively affected by Sveaskog’s changed product mix in the total sales volume with an increased proportion of sawlogs, as well as a higher proportion of timber from own forests. During the year Sveaskog delivered a total of 10.8 million cubic metres of sawlogs, pulpwood and biofuel, a decrease of 12.6% compared with 2008. Sveaskog’s sales of biofuel increased in volume by 42% compared with 2008 and accounted for 12% of Sveaskog’s total sales. Sveaskog acquired the Lövholmen industrial site in Piteå in order to further strengthen the biofuel business.”