Wood products company Setra has reported an operating profit of SEK 231 million ($21 million) for the Q3 2022. Net sales totalled SEK 1,343 million ($122 million), compared to SEK 1,565 million ($142 million) in the Q3 2021.
“As expected, the wood products market has weakened worldwide in Q3. Delivery volumes and prices have been squeezed while costs of raw material and inputs have increased. But although uncertainty remains regarding economic developments, we are seeing growing activity in our deliveries in the latter part of Q3,” says Setra CEO Katarina Levin.
Wood is continuing to rapidly take market share from other construction materials in Europe and also in North America and Asia. The advantages wood offers over other materials in terms of sustainability is making it very attractive.
Cash flow from operating activities in the Q3 amounted to SEK 305 million ($27.7 million). Net cash totalled SEK 1,700 million at the end of the period. In May Setra paid out SEK 629 million ($57.2 million) in dividends to shareholders.
Setra is one of Sweden’s largest wood industry companies.
