Finnforest‘s operating profits dipped slightly to €5m in the first quarter compared to a year ago but the company is predicting a brighter outlook with price rises in certain products groups.
Metsäliitto, Finnforest’s parent company, said sales between January and March were €471m, 6% higher than the same period in 2003.
The solid wood division had an operating profit of €0.9m, down from €3.1m a year ago due to a fall in prices for sawn timber and by-products.
Engineered products peformed better, with operating profits up to €4.7m from €1.4m in 2003. The birch plywood market was “difficult” but sales of Kerto LVL progressed well with mills operating at full capacity.
Moelven, which is part of Finnforest, recorded an operating loss of €0.4m. Its sawmilling performance was affected by a seasonal downturn in construction, while glulam demand was “normal”.
