Our profit decreased in the second quarter, but remained at a historically good level, at SEK 1 138 million, nearly half of which came from forests and renewable energy. Thanks to our strong cash flow, we were able to pay out an extra dividend and buy back 1.5 per cent of outstanding shares while maintaining a low indebtedness.
Despite the economic slowdown there are not enough supply of forest raw materials. Competition on the wood market remained strong in the Nordics during the quarter and prices increased further. Wood prices are now 30 per cent above their historical level, which increased profit from forests to SEK 390 million. Our position on the wood market, with good control over raw materials and the entire value chain, ensures the long-term security of our raw material supplies and gives us good opportunities to continue developing our industries.
17 August, 2023