Setra Group has recorded net sales of SKr3.3bn in the first half of 2007, with post-tax profits rising from SKr67m to SKr333m year-on-year.
The Swedish Wood products company, which lists glulam beams, panels, boards and treated timber among its products, also reported a record operating margin for the second quarter of 2007, with sawn and Planed Wood products helping Setra to achieve a quarterly margin of 18.3%.
“The very good operating profit for the second quarter of SKr322m means that Setra achieved an historically high operating margin,” said president and chief executive officer Kent Torwald.
“There are some signs of a weaker trend for whitewood, but demand for sawn and planed wood products remained very strong.”
In the first half Setra invested SKr161m in property and equipment; with the Långshyttan glulam factory’s capacity increased, a grading mill installed at the Kastet sawmill, a new paint shop opened in Kvarnåsen, a band saw line at the Nyby facility and a sawlog sorting unit and X-ray log scanner introduced to the Skinnskatteberg sawmill.
Acquisitions also played a part in Setra’s year-to-date results, with the company taking full control of the UK’s M&S Softwood Ltd and buying 25% of the shares in biofuel company Naturbränsle i Mellansverige, a sector where Mr Torwald said Setra is “strengthening its organisation” in order to “meet the increased demand in the energy market”.
