Setra posts interim results
1 November 2022Wood products company Setra has reported an operating profit of SEK231m (2021 Q3: SEK600m) for the third quarter of 2022. Net sales totalled SEK1.343bn (2021 Q3 1.56bn).
“As expected, the wood products market has weakened worldwide in Q3,” said Setra CEO Katarina Levin.
“Delivery volumes and prices have been squeezed while costs of raw material and inputs have increased. But although uncertainty remains regarding economic developments, we are seeing growing activity in our deliveries in the latter part of Q3.”
The figures for the nine month period ended September are still healthy, with sales at SEK4.9bn (2021: SEK4.2bn) and pre-tax profit at SEK1.27bn (2021: SEK1.21bn).
Setra has been commissioned to supply locally produced CLT and glulam for the first phase of Greenhouse Sthlm, a climate-smart development by Electrolux on Kungsholmen in Stockholm.
The contract is for around 5,000 cubic metres of CLT and 600 cubic metres of glulam, which will be manufactured at the Setra Timber Industry Centre in Långshyttan, Dalarna. Deliveries are set to begin in 2023.
Setra has decided to invest in solar panels at Setra Kastet in Gävle and at Setra Wood Products in the UK. This is a strategic investment that will boost electricity production and reduce electricity costs for a long time to come. It is an investment completely in line with Setra’s Grönsamhet vision.
