Interim Report September 1, 2009 – May 31, 2010
for Bergs Timber AB ( (publ)
Summary
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Interim Period (September 1 – May 31)
- Net sales totaled SEK 675.6 (571.8) million, operating profit was SEK 19.6 (loss: 44.8) million, and profit after financial items totaled SEK 12.2 (loss: 55.6) million.
- Profit after tax was SEK 9.4 (loss: 39.2) million, resulting in earnings per share after tax of SEK 1.36 (loss: 5.68).
- The improved financial performance compared with the same period the previous year is mainly due to improved sales prices for sawn wood, along with an increase in sales of by-products.
However, increased raw material costs, as well as a reduction in production and outbound loads had a negative impact on earnings.
- The effect of foreign exchange differences on earnings was SEK 2.3 (-2.0).
- Cash flow from operating activities was SEK 3.2 (13.4) million.
- Production of sawn wood decreased 9 percent during the period compared with the same period the previous year. Scarcity of raw materials during the autumn and unusually harsh winter weather were limiting factors.
- One crucial factor for the future trend in the timber market is whether the increase in consumption of timber will be equal to the increase in production. Exchange rate trends and developments in the commodity balance also have an effect on Bergs Timber’s earnings.
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Third quarter (March 1, 2010 – May 31, 2010)
- Net sales totaled SEK 295.4 (228.4) million in the third quarter. Profit after financial items was SEK 6.1 (4.7) million, resulting in earnings per share after tax of SEK 0.66 (0.50).
- The improved financial performance in the third quarter compared with the same period the previous year is mainly due to improved sales prices for sawn wood, along with an increase in sales of by-products.
However, increased raw material costs had a negative impact on earnings.
- The effect of foreign exchange differences on third quarter earnings was SEK 2.3 (-9.5).
- Production of sawn wood decreased 2 percent during the third quarter and outbound deliveries of timber increased by 7 percent compared with the same period the previous year.
Read the whole official report (in swedish), click here:
http://www.bergstimber.se/se/Press/Press/Pressmeddelanden/500572