Swedish wood producer VIDA posts SEK 95.8 million ($11 million) profit in 2008

Mar 13, 2009. /Lesprom Network/. Swedish wood producer VIDA’s operating profits declined substantially in 2008 to SEK 95.8 million ($11 million), in 2007: SEK 857 million ($101 million), as The Timber Industry Magazine informed Lesprom Network. The company’s timber division remained profitable with a result of SEK 111.7 million ($13 million), although profits for 2007 (18 months) had been SEK 858.8 million ($101 million). Vida said sawn timber production and delivery hit a record in 2008 at 1.07 million cubic metres. “Under present conditions, full production will occur in all plants during 2009,” it said. Group turnover amounted to SEK 3.7 billion ($435 million). “VIDA Group is well prepared for a continued recession. Production and deliveries have continued at a high rate during early 2009 and is expected to continue at a high pace. The current financial crisis and recession, however, is difficult to survey.” VIDA AB is Sweden's largest privately owned sawmill company. Production is primarily focused on structural timber for a large assortment of different markets. Around 85% of production is exported to Europe, the USA and Asia. Sales of sawn wood products are via a sales company, VIDA Wood. Operations also include the manufacture of packaging, pulp and paper production, pellet manufacture and biofuel trading.