Setra reports SKr287m operating profit19 October 2018
Swedish wood products company Setra is reporting an operating profit of SKr287m (2017: SKr107m) for the period JanuarySeptember 2018.
Net sales totalled SKr3.3bn, while operating profit for the third quarter amounted to SKr54m, with net sales of SKr966m.
“We’re reporting an operating profit for the first three quarters of SKr287m, which is an improvement of SKr180m on the previous year,” said Hannele Arvonen, president and CEO at Setra.
“USA and Europe have been extremely strong markets. The building trade in Sweden has been subdued because of the hot summer, although industrial construction remains strong.
“We have seen some uncertainty in some markets during the third quarter, with the Chinese market in particular afflicted by a drop in deliveries and falling prices. This is seen as a temporary setback, however, as consumption is fundamentally strong. Deliveries to Egypt have also fallen, primarily due to a shortage of USD. However, other markets have been able to compensate.”
Setra is currently preparing to begin sawing timber damaged by fire at its mill in Färila.
“We’re stepping up in order to recover as much value as possible.”
Setra is developing a new wood products centre in Långshyttan.
The manufacture of components for doors and windows is getting under way in October, with production of cross-laminated timber scheduled to be running in first half of 2020.
A new trim saw with integrated planing machine is to be installed in Hasselfors, and is set to be up and running in second quarter of 2020.
Setra said the investments will enable Setra to deliver a high level of processing and competitiveness in the wood industry.