Södra posted a stable result for 2023. Operating profit totalled SEK 2,226 million ($213 million) and Södra’s Board proposes a profit distribution of SEK 1,474 million ($141 million) to members. During the year, the implementation of Södra’s strategy continued with a focus on increased competitiveness and added value to strengthen the value of family forestry.
In 2023, the Södra Group’s net sales amounted to SEK 28,896 million ($2.7 billion), compared to SEK 33,367 million ($3.2 million) in 2022. Operating profit totalled SEK 2,226 million ($213 million). At year-end, return on capital employed was 9% and the equity ratio was 64%. During the year, efforts to strengthen the Group’s competitiveness led to efficiency gains of SEK 866 million ($83 million) and contributed to the result, while also generating a long-term effect. The result for 2023 is in line with the plan for the year.
Södra’s Board proposes a higher dividend in relation to profit and that approximately two-thirds of profit for the year be distributed to members. This would entail a total profit distribution of SEK 1,474 million ($141 million), corresponding to an average amount of SEK 28,478 ($2.7) per member and 65% of profit before tax. The distribution proposal will be presented to the AGM for adoption in Kalmar on 28 May 2024.
“I can confirm that Södra has delivered a stable result in challenging times. This demonstrates the cooperative’s ability to work both long and short term with its mission to strengthen the value of family forestry. Södra’s industries are the means for creating this value and our mission is to always do this in the best and most sustainable way in all of our business dealings. Our main focus is to strengthen competitiveness by enhancing efficiency, increasing the added value of our products and making more of the raw material that we have. The external situation has made it even clearer that our strategic direction is necessary and right,” said Lotta Lyrå, President and CEO of Södra.
Founded in 1938, Södra is Sweden’s largest forest-owner association, with more than 50,000 forest owners as its members.
