Setra reports H1 growth in profit23 July 2018
Swedish wood products producer Setra has reported an operating profit of SKr233m (2017 H1: Skr90m) for the first half of 2018.
Net sales totalled SKr2.35bn (2017 H1: SKr2.082bn). Operating profit for the second quarter amounted to SKr141m (2017: SKr57m), with net sales of SKr1.22bn (2017 H1: SKr1.075bn).
“The continued positive development of the wood products market has enabled us to increase sales prices as well as sales and production volumes,” said Hannele Arvonen, president and CEO at Setra.
“We envisage a continued strong market for wood products and good demand among our customers moving forward,” she said.
The Setra Board has decided to invest in the manufacture of components and CLT in Langshyttan. These investments enable the creation of a new wood industry centre in Langshyttan, in addition to the further development of existing glulam production.
Through investments, Setra is taking a step towards boosting processing capacity and reinforcing its long-term competitive edge in the wood industry. Setra and Preem have entered into an agreement on the production of renewable biofuel. A production facility is being planned at Setra’s Kastet Sawmill in Gävle.
The facility, which will convert sawdust into pyrolysis oil, is estimated to provide around 25,000 tonnes of oil each year, which will be refined into biofuel via Preem’s refinery in Lysekil.