Rörvik Timber AB seems to have finally turned the corner after returning to profit in 2010.
The Swedish sawmiller, which filed for bankruptcy protection in 2009 and came out of a period of reorganisation last May, recorded pre-tax profits of SKr180m in 2010 (2009: SKr-303m).
Net sales amounted to SKr1165m (2009: SKr1284m).
Sawn timber production for the 12 months totalled 414,000m³ (2009: 347,000m³). Fourth quarter production was 116,000m³ (2009: 75,000m³). Rörvik plans to establish an annual production rate of 590,000m³, which would equate to a capacity utlisation of around 60%.
Rörvik said it had only experienced a limited benefit from the increase in timber prices, due to the company being in a period of reorganisation during much of the period of increasing prices and because prices weakened in the autumn as a result of a stronger krona and poorer demand.
It said the industry export price index for the fourth quarter reduced by 5% for pine and 6% for spruce. It also flagged up uncertainty in its North African market due to continuing political unrest.
