Moelven’s first-quarter results show a much improved situation from a year ago, with operating profits of NKr19m compared to losses of NKr26m in 2011.
Sales in the period grew by NKr212m to NKr 2.1bn as a result of higher activity levels.
“It is great to see that our increase in turnover is continuing and that we are once again earning money,” said CEO Hans Rindal.
“This is a positive result, which I am happy to see. However, our profits should be greater, even though we are talking about a quarter during the low season.”
He said the company’s building systems project division contributed to most of the profits, while Moelven’s sawmills were still operating with low margins, “but this has been slightly compensated for by improved internal operations”.
Moelven expects no imminent increases in demand for industrial wood are expected in Europe. However, it sees positive signs from other areas such as the Middle East, North Africa and the US.
The board anticipates the group’s overall profits for 2012 will be better than they were for 2011.
