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Setra Group slipped into the red in the fourth quarter

24.01.2019 − 

Following in part significant increases in the first three quarters of the 2018 financial year, the Swedish Setra Group reported a decline in operating profit and a slight net loss for the fourth quarter. According to the figures published yesterday evening, the fourth quarter's sales of SEK 1.155bn were slightly up on the previous year, but the operating result, excluding and including special effects, was down just under 6% and 56%, respectively, at SEK 68m and SEK 23m, respectively. Profit after tax was even negative at SEK -1m. The Group's decline in earnings was partly due to weaker business activity on the sawn timber markets in China and North Africa.

Despite the weaker annual financial statements, Setra achieved a sales increase of around 8 % to skr 4.480bn in the previous year. The operating result excluding special effects almost doubled from SEK 179m to SEK 355m. The same applies to profit after tax, which at SEK 310 million was almost twice as high as in 2017.

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