Interim report Q1 2020
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” IMPROVED RESULT AND STRENGTHENED MARGINS
The result for the quarter was the best since the first quarter last year. During the winter, certain production curtailments were implemented which, together with an extensive labour dispute at Finnish sawmills, led to a lower supply of wood products. The reduced supply combined with good demand has resulted in lower stocks for the season and that certain price increases have been implemented.
Adjusted for costs related to the closure of Gransjö sawmill, EBITDA for the first quarter amounted to SEK 50 million and operating profit to SEK 25 million, which is an improvement over the past three quarters. Apart from the pellet operations, where the unusually warm winter has slowed the market, all units show an improvement in earnings.”
1 January – 31 March 2020
- Net sales declined by 3% to SEK 856 million (885). The decrease was mainly related to lower sales prices for sawn products.
- Adjusted for costs related to the closure of Gransjö sawmill, EBITDA decreased to SEK 50 million (82), mainly related to lower sales prices for sawn products and lower production volumes.
- Adjusted EBITDA margin amounted to 5.9% (9.3)
- A decision to close Gransjö sawmill was made in March 2020. One-off costs and impairment of fixed assets amounted to SEK 30 million, affecting the operating profit which fell to SEK -5 million (60).
- Net profit was SEK 6 million (52).
- Earnings per share was SEK 0.02 (0.15).
- Operating cash flow amounted to SEK -6 million (-34).
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For complete report, go to www.bergstimber.com
Questions regarding the interim report can be answered by President and CEO Peter Nilsson on telephone number 070-315 09 27 or CFO Anders Marklund 070-284 47 96.
The information in this interim report is such that Bergs Timber AB (publ) is required to disclose in accordance with the EU Market Abuse Regulation and the Securities Market Act. The information was submitted for publication on May 5, 2020 at 1:00 pm. The interim report is available on the company's website, www.bergstimber.com
Annual General Meeting fiscal year 2019: 23 June 2020
Interim report for quarter 2 2020: 31 July 2020
Interim report for quarter 3 2020: 3 November 2020
Year-end report 2020: 3 February 2021
This is Bergs
– an international wood products Group
With wood as a raw material, Bergs produces processed wood products from sustainably managed forests in the Baltic Sea region. With years of experience in wood and a great deal of competence in processing, we promote building a sustainable society with renewable materials.
Our operations – conducted through wholly owned subsidiaries in Sweden, Estonia, Latvia and the UK – encompass sawmills and processing as well as distribution and logistics.
The Group has sales of approximately SEK 3.2 billion and around 1,000 employees. Bergs is listed on Nasdaq Stockholm, and its head office is in Vimmerby, Sweden.