Setra boosts profits and predicts positive market in 2017
24 January 2017Swedish sawmiller Setra has reported an operating profit of SKr153m (2015: SKr47m) for the full year 2016 and has predicted positive market developments this year.
Net sales totalled SKr4.04bn (2015: SKr4.2bn).
“The market for wood products has developed in a positive direction during the year,” said Hannele Arvonen, Setra CEO and president.
“As a result we have been able to increase production which, combined with a favourable currency trend, has contributed towards our increased earnings.
“We see continued good demand for wood products and an improved stock situation compared with the same time last year. This means that we are positive about the development of the wood products market during 2017.”
The sale of operations at Setra’s sawmill in Vimmerby to Bergs Timber was completed this month, while timber building subsidiary Setra Plusshus and planing operations in Valbo were sold in 2016.
The result from these sales together with insurance compensation following a fire are reported as non-recurring items totalling SKr38m.
