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Holmen shows solid profitability despite a weaker market

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.

Holmen’s Interim Report January-June 2023 was published on August 17, 2023.

 

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.

  • Operating profit for January-June 2023 was SEK 2 875 million (January-June 2022: SEK 3 984 million). Excluding items affecting comparability last year, operating p rofit decreased by SEK 844 million due to lowerwood product prices.

  • Compared with the first quarter, the second quarter operating profit decreased by SEK 599 million to SEK 1 138 million as a result of a major maintenance shutdown in Workington and that previous quarter benefitted from electricity price hedges.

  • Profit after tax for January-June amounted to SEK 2 261 million (3 125), which corresponds to earnings per share of SEK 14.0 (19.3).

  • In the second quarter, a total of SEK 2 592 million of ordinary and extra dividends were paid and own shares were bought back for SEK 967 million.


CEO comments

Interim Report Q2 2023 (pdf)

Presentation Q2 2023 (pdf)

 

Published

17 August, 2023

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Holmen’s business is built around the forest ecocycle and the renewable products we can create from it. Our business areas are Forest, Wood Products, Board and Paper and Renewable Energy.  With a workforce of 3 500 people, we create value for shareholders, customers and society. We generate sales of around SEK 23 billion and our shares are listed on Nasdaq Stockholm, Large Cap. Please visit holmen.com for more information.

Modern Slavery Act Transparency Statement

Holmen AB, P.O. Box 5407, SE-114 84 Stockholm, Sweden 
Phone: +46 8 666 21 00  E-mail: info@holmen.com

 

 

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  • Renewable energy - holmen.com/energy
  • Board and Paper - holmen.com/boardandpaper
  • Wood Products - holmen.com/woodproducts

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