Sveaskog’s net sales increased by 7% to SEK 2,224 million in the Q2 2024. Timber prices increased by an average of 11%, while delivery volumes decreased by 2%. Other turnover decreased by 2% and is mainly attributable to concessions, plants and other sales.
The average prices for deliveries from its own forest have increased by 20% compared to the corresponding quarter of the previous year.
The operating profit increased by 11% and amounted to SEK 500 million. Higher timber prices have been met by increased costs for felling and forest and nature conservation.
Share of profit in associated companies amounted to SEK 5 million.
The reported change in value of growing forest amounted to a net of SEK 168 million.
Profit for the quarter amounted to SEK 524 million, corresponding to SEK 4.43 per share.
1 January–30 June 2024
Net sales increased by 4% to SEK 4,394 million. Timber prices increased by an average of 12%, while delivery volumes decreased by 7%. Other turnover decreased by 1%.
The average prices for deliveries from our own forest have increased by 19% compared to the corresponding period last year.
The operating profit increased by 8% and amounted to SEK 1,092 million. Higher timber prices have been met by lower volumes from own forests and increased costs for felling and forest and nature conservation.
Share of profit in associated companies amounted to SEK -32 million.
The reported change in value of biological assets net amounted to SEK 199 million.
Profit for the period amounted to SEK 924 million, corresponding to SEK 7.80 per share.
Comment from Sveaskog's CEO and CEO Erik Brandsma: “The market for Sveaskog's products has continued to be good during the quarter and more and more customers value our delivery security. Prices for all ranges have developed well and are at record levels. We currently note a strong pulp market with good demand for packaging and kraftliner. The sawmills still have a challenging market with high raw material prices and a weak construction market in most parts of Europe. Energy wood prices are still high despite the summer season, and we predict a continued high level in the autumn when stocks for the winter are to be filled.
“We work to find a balance between securing forest raw materials for industry and provisions to ensure consideration of nature conservation and social interests. Balancing different interests and optimizing value creation is, together with a more varied forestry, an important part of our strategy. The ongoing green transition contributes to developing our existing businesses and creates opportunities for new ones.”
Sveaskog is Sweden's largest forest owner and is owned by the Swedish state.
