Wood products company Setra has reported an operating loss of SEK -69 million ($6.6 million) for the Q4 2022. Net sales totalled SEK 1,395 million ($134 million), compared to SEK 1,563 million ($150 million) in Q4 2021.
“The wood products market continued to weaken during Q4 in terms of the general price level, while demand improved, which reduced our stocks to a normal level. However, low prices combined with rising costs have further weakened our margins during this quarter,” says Katarina Levin, Setra’s CEO.
Despite the difficult global economic situation, Setra is positive about the future of wood product consumption, in both the medium and long term. The increasing use of wood products in construction-related sectors, driven by a focus on sustainability, means that wood products continue to capture market share from other materials, while global production of wood products is not growing at the same rate, mainly due to the limited availability of raw material.
Cash flow from operating activities in the Q4 2022 amounted to SEK -112 million ($10.8 million). Net cash totalled SEK 1,484 million ($143 million) at the end of the period. In May Setra paid out SEK 629 million ($60.6 million) in dividends to shareholders.
Setra is one of Sweden’s largest wood industry companies.
