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Moelven achieves significant improvement in earnings

26.02.2021 − 

Moelven Industrier closed 2020 with significant improvements in in its results. According to the business report, consolidated EBITDA in the fourth quarter was several times higher than a year earlier at NOK329m. The operating result (NOK230m), pre-tax earnings (NOK264m), and net profit (NOK206m) were all positive again after losses had been recorded a year earlier. Sales revenue was 26 % up at NOK3.027bn.

The three divisions each achieved considerable growth in sales revenue and earnings. Sales revenue generated by the sawmill division “Timber” increased 32 % to NOK956m. EBITDA and the operating result were both much higher at NOK136m and NOK105m, respectively. The “Wood” division succeeded in boosting its sales revenue by 26 % to NOK1.075bn and EBITDA almost tenfold to NOK137m. The operating result was NOK108m as opposed to a loss of NOK4m a year earlier. The “Building Systems” division’s sales revenue was 24 % up at NOK941m. EBITDA increased almost fivefold to NOK52m. The operating result was given as NOK26m whereas the previous year’s figure had been negative (-NOK8m).

In the first and until well into the second quarter, the group is generally anticipating brisk demand for sawnwood and value-added wood products on the international sales markets. In Scandinavia, a probable, slightly lower level of demand in the first quarter than in the fourth quarter of 2020 will give the wood industry the opportunity to build up stocks of finished products for the forthcoming season.

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