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Moelven’s sales slowed by freight capacity shortage

19.11.2021 − 

The volume of sawnwood sales by the “Timber” division of Moelven Industrier in the third quarter was a little lower again than last year’s level due to a shortage of freight capacity. Nevertheless, the division still achieved significantly better key performance figures. In the USA, greater demand generated growth in sawnwood prices. As a result of the higher deliveries to US customers, the bottlenecks in supply that had already existed on various European markets became more pronounced. The division’s EBITDA and operating result in the period under review were greatly increased to NOK595m and NOK569m, respectively. Sales revenue was 77% higher at NOK1.316bn.

In the planed goods or “Wood” division, the availability of wood products improved during the course of the third quarter. In the second quarter, popular assortments were in short supply due to low stocks of finished products. The price increases pushed through as a result of the brisk demand also led to an substantial increase in EBITDA (NOK618m) and the operating result (NOK589m). Sales revenue was 56% higher than a year earlier at NOK1.884m.

The “Building products” division had to record a reduction in EBITDA (-9% to NOK49m) and in the operating (-85% to NOK5m) due to unsatisfactory business development in the “Building modules” and “System interiors” subsectors. The gluelam business, oriented towards Norway and Sweden, on the other hand, developed satisfactorily. The division generated 23% higher sales revenue at NOK862m. Owing to unsatisfactory development in its results, the interior-finishing company trading under the name of Moelven Modus AB was sold on 8 October to the investment company Mimir Capital, which renamed the business Eurowand. Moelven Modus AS also geared to interior finishing, was not affected by the transaction.

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