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2018-04-26

Setra posts growth in profit

Wood products company Setra has reported an operating profit of SEK 92 million (33) for the first quarter of 2018. Net sales totalled SEK 1,130 million (1,007).

“We’re reporting an operating profit of SEK 92 million for the first quarter of 2018, which is an improvement of SEK 59 million on the previous year. This increase reflects the continued positive development of the wood products market, which has enabled us to increase sales prices as well as sales volumes. During the first quarter, we were affected by disruption to timber flows to our production units resulting from severe winter conditions and lack of capacity in the transport sector, which impacted negatively on production volumes as well as profit. We envisage a continued strong market for wood products and good demand among our customers moving forward,” said Hannele Arvonen, President and CEO at Setra.

The Stetra Board has decided to invest in the manufacture of components and CLT in Långshyttan. These investments enable the creation of a new wood industry centre in Långshyttan, in addition to the further development of existing glulam production. Through investments, Setra is taking a step towards boosting processing capacity and reinforcing its long-term competitive edge in the wood industry.
 

Cash flow from operating activities in the first quarter was SEK 30 million (-28). The Group’s financial position is strong. The Group’s financial net debt amounted to SEK 29 million (2) at the end of the period, which corresponds to a net debt/equity ratio of 2% (10).

The annual general meeting of Setra Group AB was held today, where it was resolved to issue a dividend of SEK 1.12 per share for the 2017 financial year – approximately SEK 58 million in total.

Key figures Jan–March (3 months)      
  2018 2017      
Net sales, SEKm 1,130 1,007      
Operating profit, SEKm 92 33      
Profit after tax, SEKm 70 23      
Operating margin, % 8.1 3.3      
Return on operating capital, %, 12 months 15.8 12.1      
Cash flow from operating activities, SEKm 30 -28      
               

Setra does not publish a complete quarterly report.