Competition for wood raw material has eased and prices decreased slightly from high levels. In central Sweden, the supply was larger than normal after the storm at year-end, and we allocated harvesting resources to dealing with storm-felled forest on both our own and others’ land. The profit from Forest remained strong and amounted to SEK 460 million. We manage the forest actively and responsibly to optimise the value over time, while it is also the main source of supply for our industrial activities.

The price of electricity in northern Sweden was at a relatively good level in the second quarter, but was lower than the very high level seen in the first few months of the year. Maintenance of the national grid meant that we curtailed production and saved water in our reservoirs. Profit from Renewable Energy was SEK 74 million, which is a good level for the time of year. The price of electricity in northern Sweden is still lower than in the rest of Europe, which makes the region an attractive location for the establishment of new energy-intensive facilities such as data centres.   

Demand for wood products increased seasonally in the second quarter and prices slightly increased, while log prices decreased from very high levels. This was not sufficient to achieve a positive result, but the loss for Wood Products decreased to SEK 55 million. We are continuing to balance our production based on market conditions and have reduced production costs, which means that our efficient sawmills, with their high processing capacity, will be well positioned when the market turns.

Demand for both consumer paperboard and paper in Europe was broadly unchanged during the quarter and prices were stable. We managed to increase our deliveries during the quarter, which contributed to an increase in the profit for the business area of almost SEK 100 million to SEK 254 million. Given our strong market positions in selected niches, and our well-invested production facilities, we are in a good position to create ample added value over time.

Market conditions remain challenging in several of our markets. However, our business, which is based on our land holdings, is holding up well even in times such as these. On our land, we grow houses while also harnessing the energy that flows in the rivers and blows over the treetops. We use the residual forestry products to make renewable packaging, magazines and books that help our customers to increase their competitiveness and reduce their fossil carbon footprints. 

Henrik Sjölund
President and CEO, Holmen
20 August 2026