Wood products company Setra is reporting an operating profit of SEK 310 million ($34.4 million) for 2018. This figure includes non-recurring items of SEK -45 million ($34.4 million). Net sales totalled SEK 4,480 million ($498 million).
“We’re reporting an operating profit, adjusted for non-recurring items, of SEK 355 million ($39.4 million) for 2018, which is an improvement of SEK 176 million ($19.6 million) on the previous year.
The favourable market conditions of 2017 continued in 2018, despite a decline in consumption during the final months of the year, primarily in China and on the North African markets. We envisage continued good demand among our customers in Europe as well as recovery in China and Egypt above all,” said Hannele Arvonen, President and CEO at Setra.
Cash flow from operating activities for 2018 amounted to SEK 426 million ($47.3 million). The Group’s financial position is strong, with net financial debt amounting to SEK -121 million ($13.4 million) at the end of the period, which corresponds to a net debt/equity ratio of -8%.
Setra is one of Sweden’s largest wood products companies.
Photo: Hannele Arvonen, President and CEO at Setra.