Holmen reports healthy H1 operating profits23 August 2017
Swedish sawmiller Holmen has reported 2017 first half operating profits of SKr38m (2016: SKr-8m).
The improvement in earnings was due to higher prices and increased production.
Compared with the first quarter, operating profits rose in Q2 by SKr4m to SKr21m. Market conditions for wood products in Europe were good in the second quarter and market prices increased slightly.
Holmen’s deliveries of wood products for January-June totalled 430,000m3, which was 9% higher than the same period last year as a result of better production and a stronger market.
The nearby Linghem sawmill has been acquired to strengthen the raw material supply for Braviken Sawmill and expand the product offering. Linghem Sawmill has a production capacity of 75,000m3.
The acquisition from Rorvik Timber took effect on April 28. Holmen’s annual production capacity is 900,000m3.