Norra Skog's operating profit for the first six months of the year landed at SEK 175 million (EUR 15.3 million), compared with SEK 219 million (EUR 19.1 million) in the same period last year. At the same time, turnover increased by just under ten percent. The weak global market for sawn timber is behind the result. The swing from a positive world market took place in 2023, and the first half of 2024 has been characterized by the new challenging market situation. Norra Skog writes in a press release that a certain lightening was seen during the beginning of the year, but that the wood product market has subsequently slowed down again.<\/p>\n
\"I would like to say that the market for sawn timber is currently out of balance. Timber prices are currently above the level required for a healthy economy in most wood mechanical industries throughout Sweden. The timber price is not due to high demand on the global timber market, but rather to a shortage of raw materials caused by reduced felling throughout Sweden,\" says Norra Skog's CEO P\u00e4r L\u00e4rkeryd.<\/p>\n
Tough times continue<\/strong><\/p>\n The market for paper pulp has recovered better than the wood products market and Norra Skog's part ownership in Husum Pulp has given increasingly better dividends month after month in 2024, says Norra Skog<\/p>\n Norra Skog believes that 2024 will continue to offer a challenging wood product market. Despite expectations of lower market interest rates, it is believed that investments that drive the timber market will remain at a low level throughout the year.<\/p>\n \"I think that we will unfortunately see continued closures and restructuring in the sawmill industry,\" says P\u00e4r L\u00e4rkeryd.<\/p>\n Facts: Norra Skog's interim report January-June 2024 (2023)<\/strong><\/p>\n Turnover: SEK 2,901 million (EUR 254.5 million) (2,655) (EUR 232.7 million);<\/p>\n Operating profit: SEK 175 million (EUR 15.3 million) (219) (EUR 19.1 million);<\/p>\n Result from financial items: -25 MSEK (EUR -2.2 million) (-12) (EUR -1.0 million);<\/p>\n Profit before tax: SEK 149 million (EUR 13.1 million) (206) (EUR 18.0 million).<\/p>","protected":false},"excerpt":{"rendered":" Norra Skog’s operating profit for the first six months of the year landed at SEK 175 million (EUR 15.3 million), compared with SEK 219 million (EUR 19.1 million) in the same period last year. At the same time, turnover increased … Continue reading