Sveaskog's 4Q 2020 net sales decreased by 7% to SEK 1,681 million ($202 million), compared to SEK 1,813 million ($218 million) in the 4Q 2019.
4Q 2020 operating profit decreased by 12% to SEK 308 million ($37.1 million). The decreased profit is primarily due to lower prices, higher costs for roads and reduced income for wind power concessions. The deliveries from own forests were lower compared with the previous year.
FY 2020 net sales decreased by 8% to SEK 6,597 million ($783 million). Prices of wood raw materials were down by 9% on average while total delivery volumes declined 1%. The sales of wood raw materials amounted to 10.6 million m3.
2020 operating profit decreased by 24% to SEK 1,120 million ($135 million), compared to SEK 1,483 million ($178 million). The decrease in profit can be attributed primarily to lower prices and increased costs of forest management, nature conservation and roads, but has been partly offset by higher delivery volumes from our own forests. Deliveries from externally sourced wood raw materials have decreased.
Profit for the year amounted to SEK 10,867 million ($1.3 billion), corresponding to SEK 91.78 ($11) per share, which is mainly related to a positive impact on profit of a net SEK 9.5 billion ($1.1 billion) from the change in accounting method for valuation of forest assets.
Sveaskog is Sweden’s leading forestry company and sells timber, pulpwood, biofuel, seedlings and forestry services.
