Setra records SKr27m operating loss

Swedish wood products giant Setra recorded a SKr27m operating loss for the first quarter.

The result was an improvement from the SKr48m loss posted a year ago.

Net sales were stable at SKr1.065bn (2011: SKr1.1bn).

Setra president and CEO Börje Bengtsson said the results exceeded the company’s expectations and he was pleased the quarter ended on a positive note with a clear profit showing for March.

“Nothing dramatic has happened but we note a slight improvement in all markets,” he said. Volumes are increasing, market prices are slowly rising and at the same time raw material prices have stabilised at a slightly lower level.”

Mr Bengtsson said the order situation ahead was “favourable”, while Setra viewed continued market development with cautious optimism.