Net revenue in January - September 2013 was SEK 12,436 million ($2 billion), which represents a drop of 4%. This drop is primarily due to a fall in sales of electricity certificates and the closing of the CTMP mill at Follafoss, Norway.
Operating profit, excluding restructuring costs, rose by SEK 780 million ($120 million) compared to the same period last year and totalled SEK 190 million ($29.2 million). At the same time costs have decreased by 9%.
Operating profit after restructuring costs was SEK -706 million ($108.6 million). Over the corresponding period for 2012, operating profit was SEK -590 million ($90.7 million).
"We can see that our markets continue to be characterised by the weak economy and the strong Swedish krona. Despite this, our earning capacity grew over the year. The change when looking at the trend over recent months is particularly evident. Operating profit, excluding restructuring costs in 3Q 2013, was SEK 221 million ($34 million). This is SEK 608 million ($93.5 million) above the same period last year," commented Lars Idermark Group President and CEO at Södra.
"An important factor in the improvement in earnings was the savings and efficiency measures that have been implemented, which total more than a quarter of a billion kronor to date this year," he continued.
"Good harvesting conditions with a dry autumn have paved the way for a high level of harvesting activity. The outlook for the end of the year is good, and we envision that Södra's operations will continue to have a consistently high demand for raw timber products," Idermark concluded.