“At the start of Q4, the wood products market was very hesitant and prices saw a significant downturn. However, they stabilised at a relatively high level and contract activity finished strongly ahead of Q1 2022,” says Katarina Levin, Setra’s CEO.
7 December saw the official opening of Pyrocell’s factory adjacent to Setra Kastet in Gävle. Pyrocell’s Chairman Pontus Friberg cut the yellow ribbon jointly with Gävleborg’s County Governor and the Dutch Ambassador to Sweden. An appropriate inauguration for such a globally unique facility.
At the end of October, Setra announced its decision to invest a total of SEK 100 million in high-capacity drying kilns for Heby and Hasselfors. The increase in drying capacity in Heby and Hasselfors is an important element in the ongoing development of Setra’s operations in Bergslagen. Earlier this year, the company decided to invest in a new saw line in Skinnskatteberg, and last year a new rip saw was installed at the sawmill in Nyby. Examples of other investments in this area include CLT and components in Långshyttan, planed construction timber from the new trimming and planing plant in Hasselfors and new x-ray technology in Kastet, Nyby and Skinnskatteberg. In total, Setra has invested more than SEK 1 billion in Bergslagen over the past four years.
In October, Setra’s Board decided to invest around SEK 390 million in the Malå sawmill. The facility in Malå will have a new log intake, a new saw line, an upgraded trim saw and a new drying unit. This new unit will deliver higher-quality products, more efficient production and a lower climate footprint through smarter technology and processes compared with the current facilities. In total, the investments mean an increase in capacity of approximately 400,000 m3 of sawn wood products when they are fully implemented.
Cash flow from operating activities amounted to SEK 479 million (-9) in the fourth quarter, and for the full year 2021 amounted to 1,488 (383). Net cash totalled SEK 1,643 million (398) at the end of the period.
| Key figures* | Oct–Dec (3 mos) | Jan–Dec (12 mos) | ||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||
| Net sales, SEKm | 1,563 | 1,088 | 5,841 | 4,131 | ||||||
| Operating profit/loss, SEKm | 369 | 61 | 1,588 | 117 | ||||||
| Profit/loss after tax, SEKm | 300 | 42 | 1,258 | 7 | ||||||
| Operating margin, % | 23.6 | 5.6 | 27.2 | 2.8 | ||||||
| Return on operating capital, %, RTM | 84 | 6.9 | ||||||||
| Cash flow from operating activities, SEKm | 479 | -9 | 1,488 | 383 | ||||||
* Setra does not publish a complete period-end report.
