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November 19, 2024

Versowood facing harsh realities

Finland's largest sawmill company, Versowood, reported grim but positive financial results for the fiscal year ending in June. The outlook appears bleak due to significant drops. Revenue fell nearly 5%, slipping below the €500 million mark to €483 million, compared to €508 million the previous year. Operating profit saw an even steeper decline, dropping from €40.9 million to €8.9 million, while net profit plunged from €34.3 million to €5.9 million. This marks the third consecutive year of decline. However, in the broader perspective, the figures represent a return to pre-pandemic realities.  ...

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