Pre-tax profits of €27m were an improvement on the first quarter’s €36m loss, but well down on the €85m profits in the second quarter of 2012.
The pre-tax profits exluding non-recurring items were €60m (2012:€31m), up from €55m in the first quarter.
In the Building and Living division, which includes timber, operational EBITDA was €39m on sales of €500m (2012: €21m; €444m), up from €13m on sales of €441m in the first quarter.
Sawn timber production was curtailed by 7% but deliveries rose from 1.14 million m3 in the first quarter to 1.34 million m3 (2012: 1.29 million m3).
The company said the division’s improved performance was the result of an increase in sales prices, especially in overseas markets, "exceptionally" strong market conditions, and improved cost performance.
"Building and Living swung back to decent profitability after several quarters of poor earnings, supported by cyclical recovery but, in addition, this buiness began streamlining efforts in the fourth quarter of 2012, much earlier than the other businesses," said CEO Jouko Karvinen.
