Finnforest has posted a €7m loss before extraordinary items for the nine months to September as market conditions continued to be “extremely difficult”.
The company’s sawn wood division produced a turnover of €381m and operating profits of €5.9m, an improvement due to higher use of capacity and modest increases in prices.
Engineered wood sales totalled €232m, compared with €206m a year ago, and operating profits were €3.4m. Plywood sales and prices were low but the Kerto LVL market improved and the positive trend for I-joist products helped profitability.
Finnforest, which had total sales of €1.35bn between January and September, recorded a third-quarter loss before extraordinary items of more than €10m, due to holiday-related stoppages and poor market conditions. But the company expects business to pick up during the fourth quarter.
