Setra reported operating profit of SEK 95 million (US$11.9 million)

Wood products company Setra has reported an operating profit of SEK 95 million ($11.9 million) for the period January–September 2019. Net sales totalled SEK 3,262 million. There was an operating loss for the 3Q 2019 of SEK -22 million ($2.2 million), with net sales of SEK 879 million ($90 million), as the company said in its press release.

“We’re reporting an operating loss of SEK -22 million ($2.2 million), which is SEK 76 million ($7.7 million) lower than last year. The poorer results are mainly attributable to lower sales prices in combination with higher wood prices and lower production volumes,” says Anders Nordmark, acting CEO of Setra.

Cash flow from operating activities for the period January-September amounted to SEK 125 ($12.7 million) million. The Group’s financial position continues to be strong. The Group’s net financial debt amounted to SEK 268 million ($27.3 million) at the end of the period, which corresponds to a net debt/equity ratio of 18%.

Setra is one of Sweden’s largest wood products companies.