Setra reports growth in annual profits
28 January 2019Swedish wood products company Setra has reported a near doubling of annual operating profits to SKr310m, (2017: SKr159m) for 2018.
“The favourable market conditions of 2017 continued in 2018, despite a decline in consumption during the final months of the year, primarily in China and on the North African markets,” said Hannele Arvonen, president and CEO at Setra.
“We envisage continued good demand among our customers in Europe as well as recovery in China and Egypt above all.”
In the fourth quarter of 2018, Setra began to process the timber damaged by fire at its sawmill in Färila, with the initial results indicating good quality.
The production of components for doors and windows in Langshyttan got under way at the end of 2018.
The strategic investments in CLT, in Langshyttan, and a new trim saw with integrated planing machine, in Hasselfors, are expected to begin in 2020.
