Holmen has posted profits after tax of SKr642m for 2008, down from SKr1.5bn a year ago.
The group, which includes the Iggesend Sågverk redwood sawn timber mill, recorded a net turnover of SKr19.3bn, slightly up on 2007.
Operating profits were SKr1.05bn, which includes net costs affecting comparability of SKr361m, mainly due to closures of production facilities.
Holmen said the profits decline was due to lower newsprint and sawn timber prices and higher cost of raw wood.
