Holmen’s Wood Products business remained in the red in the first half of 2026 despite stable delivery volumes, highlighting how high raw-material costs, weaker by-product revenues and currency pressure continue to squeeze Swedish sawmill margins. The second quarter nevertheless brought an important change: sawlog prices started to ease, deliveries improved and the operating loss narrowed. Holmen’s five sawmills reported an operating loss of approximately €13.1 million in January-June 2026, compared with a profit of around €1.8 million in the same period last year. EBITDA fell from positive €11.3 million to negative ...