29 January 2025 kl 16:00

Sveaskog's year-end report, January-December 2024: Long-term management and forward-looking initiatives

Operating profit increased by 44 per cent and amounted to MSEK 2,060 (1,429). Higher timber prices have been offset by lower volumes from Sveaskog’s own forest, as well as increased costs for felling, forest management and nature conservation.

1 October – 31 December 2024

Net sales increased by 10 per cent to MSEK 2,191 (1,990). Timber prices increased by an average of 13 per cent, while delivery volumes decreased by 4 per cent. Other sales increased by 1 per cent and are mainly attributable to concessions, saplings and other sales.
The average prices of deliveries from Sveaskog’s own forest increased by 19 per cent from the corresponding quarter of the previous year.
Operating profit increased by 189 per cent and amounted to MSEK 576 (199). The improvement in earnings is primarily attributable to higher timber prices.
Share of profits of associates amounted to MSEK 15 (- 81).
Profits relating to Hjälmare Kanal and Sveaaskog’s holding in Setra Group have been reclassified to operations/assets held for sale.
The reported net change in value of biological assets amounted to MSEK 7,781 (3,436). The increase is mainly due to changes in valuation assumptions.
Profit for the quarter after Profit from operations held for sale/distributed amounted to MSEK 6,593 (2,750), corresponding to SEK 55.68 (23.23) per share.

1 January – 31 December 2024

Net sales increased by 6 per cent to MSEK 8,304 (7,863). Timber prices increased by an average of 12 per cent, while delivery volumes decreased by 6 per cent. Other sales remained unchanged.
The average prices of deliveries from Sveaskog’s own forest increased by 19 per cent from the corresponding period of the previous year.
Operating profit increased by 44 per cent and amounted to MSEK 2,060 (1,429). Higher timber prices were offset by lower volumes from Sveaskog’s own forest, as well as increased costs for felling, forest management and nature conservation.
Share of profits of associates amounted to a loss of SEK 46 (60).
The reported net change in value of biological assets amounted to MSEK 7,942 (3,376). The increase is mainly due to changes in valuation assumptions.
Profit for the year after Profit from operations held for sale/distributed amounted to MSEK 7,711 (3,562), equivalent to SEK 65.12 (30.08) per share.
Sveaskog’s Board of Directors proposes a dividend of MSEK 1,203 (1,207) to the owner.

Comment from Sveaskog’s President and CEO Erik Brandsma:

“In 2024, we worked diligently in accordance with our strategy for increased forest growth, increased sustainable returns, increased climate benefits and the development of biodiversity and ecosystem services. The market situation has had a positive impact on earnings. With reliable deliveries from sustainably managed forests, Sveaskog’s deliveries are highly valued and we receive requests for higher volumes."

“In the fourth quarter of the year, we announced an agreement to sell our total shareholding of 50 per cent in Setra Group to Mellanskog. The letter of intent was signed in November and the decision is planned to be implemented during the first quarter of 2025.”