The building and living division, which includes wood products, recorded a 93.9% drop in earnings before interest and tax to €700,000 compared with the previous quarter.
Higher raw material prices and declining by-product income reduced profits significantly.
Action to improve flexibility and reduce costs at the Ala and Gruvön sawmills in Sweden and Varkaus sawmill in Finland will start from the first quarter of 2013, leading to 25 job losses.
Wood product demand compared with the previous quarter was described as “significantly weaker”, though prices were stable.
Deliveries for the period totalled 1.12 million m3, 12.6% down on the previous quarter.
