Group turnover for the October-December 2013 period was 5% higher than a year earlier at €164m. Operating profits were €11.3m, or 6.9% of turnover (2012: €3.1m loss; -0.2%).
For the full financial year from January-December 2013, group operating profits were €31.7m, or 5.1% of turnover (2012: 5.8m; 0.9%).
CEO Tomi Yli-Kyyny said profitability had improved in the group’s various business areas despite a challenging market.
Vapo Timber’s financial performance improved for 2013, recording an operating loss of €5.7m for the year, down from €10.9m in 2012.
Turnover was €139.1m, up from €112.5m in 2012, despite delivering a fifth less sawn timber last year.
In the fourth quarter, Vapo Timber recorded an operating loss of €700,000 (2012: €3m) on turnover of €40.8m (2012: €25.5m).
Fourth-quarter sawn timber deliveries totalled 174,000m3 – 46% higher than Q4 2012 – and sales prices strengthened.
