Swedish wood products company Setra has reported an operating profit of SEK 564 million (EUR 53.47 million) for the 2Q 2022. Net sales totalled SEK 1,792 million (EUR 169 million) compared to SEK 1,529 million (EUR 146 million) in the 2Q 2021.
“Delivery volumes and prices remained at a good level during the 2Q. The effects of the Russian sanctions only had a limited impact on the supply of wood products in 2Q, although the effects are likely to be more pronounced in 3Q. Uncertainty about the direction of the economy is creating a cautious market as we move towards the autumn,” says Katarina Levin, Setra’s CEO.
The outlook for Setra’s long-term development, and the future for wood more generally, remains positive, but there is some uncertainty in the short term, with the security situation in Europe, the global economy post-pandemic and Russia’s invasion of Ukraine affecting the global wood products market, driving up costs and causing turbulence in the logistics industry.
Setra is one of Sweden’s largest wood industry companies. Setra processes raw material into products such as glulam, planed products, components, CLT and sawn wood products.
The post Swedish Setra sees uncertainty for the wood markets to be more pronounced in 3Q/2022 appeared first on Global Wood Markets Info.
