Setra Declared Robust Results in 2021

SEATTLE (Scrap Monster): Setra- one of Sweden’s largest wood products company strong operating profits during the fourth quarter and full year 2021.

The company reported operating profit of SEK 1,588 million for 2021. The net sales totalled SEK 5,841 million. For the fourth quarter, it generated operating profit of SEK 369 million and net sales of SEK 1,563 million. The cash flow from operating activities amounted to SEK 479 million in Q4 and that for the full year 2021 amounted to SEK 1,483 million. The company reported total cash on hand of SEK 1,643 million at the end of the previous year, said the company press release.

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In October last year, Setra had announced an investment of SEK 100 million in high-capacity drying kilns for Heby and Hasselfors. During the same month it had decided to invest around SEK 390 million in the Mala sawmill. Earlier, the company had invested in a new saw line in Skinnskatterberg. Also, Setra Kasket in Gavle saw opening of Pyrocell’s biomass pyrolysis plant adjacent to it, which will turn sawdust into bio-oil.

The wood products market was very hesitant at the start of Q4 2021, with prices witnessing significant downturn. However, they stabilized and finished strongly by Q1 2022, said Katerina Levin, CEO, Setra.