Setra posted 1Q operating loss of SEK 27 million($4 million)
May 01, 2012. Setra reports net sales of SEK 1,065 million ($158 million) for the 1Q 2012. Operating result for the period January-March amounted to SEK -27 million ($4 million). The result was an improvement from the SEK 48 million ($7 million) loss posted a year ago.
May 01, 2012. /Lesprom Network/. Swedish wood products company Setra reports net sales of SEK 1,065 million ($158 million) for the 1Q 2012. Operating result for the period January-March amounted to SEK -27 million ($4 million). The result was an improvement from the SEK 48 million ($7 million) loss posted a year ago, as the company said in a press release received by Lesprom Network.
“Setra reports an operating loss of SEK 27 million ($4 million) for the 1Q, which is better than in the previous year and also exceeded our expectations. It is particularly gratifying that the quarter ended on a positive note and that we showed a clear profit in March,” says Borje Bengtsson, President and CEO of Setra.
“Nothing dramatic has happened but we note a slight improvement in all markets. Volumes are increasing, market prices are slowing rising and at the same time raw material prices have stabilised at a slightly lower level,” says Bengtsson.
“The winter months are traditionally a weak period for the wood products industry,” says Bengtsson. “Now we have spring and summer when activities in the construction market usually increase. Our order situation ahead of the high season is favourable and we view continued market development with cautious optimism.”
Setra is one of Sweden’s largest wood products companies and a leading player in Europe. The company offesr eco-certified wood products for interiors and construction to customers in the building materials trade and industry.