Positive results for Moelven
(Thomson Reuters ONE) -
Moelven posted a NOK 19 million profit on the company's operations during the
first quarter of the year, i.e. NOK 45 million more than for the same period
last year.
The company's operating income for the first quarter increased by NOK 212
million when compared to the same period the previous year, ending at NOK 2165
million.
Higher activity levels
However, during a quarter which normally suffers due to the low season there
were generally higher activity levels in Moelven's markets accompanied by
satisfactory operating conditions which served to create positive results.
CEO Hans Rindal is delighted that things are going the right way for Moelven,
but he would have preferred to have seen greater profits.
"It is great to see that our increase in turnover is continuing and that we are
once again earning money. 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," says Mr. Rindal.
Profitable projects
Mr. Rindal explains that the company's Building Systems project division
contributes to most of these profits.
"Building Systems contributes to most of these profits and it has also made
clear progress since last year. The division's order reserves are also
satisfactory and it looks like it will be having a good year. Moelven's sawmills
are still operating with low margins, but this has been slightly compensated for
by improved internal operations," says Mr. Rindal.
Sales of building products via trading have been normal for the season and CEO
Hans Rindal believes that the summer season will be good.
Outlook
No imminent increases in demand for industrial wood are expected in Europe.
However, positive signs from other areas such as the Middle East, North Africa
and the USA are indicating that an improvement in the international market
balance for industrial wood can be expected.
Operations at companies in the Wood Division in Norway and Sweden can be
expected to remain at acceptable levels, particularly in the ROT
(rehabilitation, renovation and additions) segment. The Building Systems
Division's order reserves will help to secure normal operations during the
second quarter.
The Board anticipates that the Group's overall profits for 2012 will be better
than they were for 2011.
Important events
Important events occurring during the first quarter include the appointment of
former Managing Director Ingmar Karlsen at Moelven Østerdalsbruket AS as the
Acting Divisional Manager of Moelven Timber after Johan Padel handed in his
notice at the end of March. Mr. Padel will be taking over as the new CEO of
Moelven's competitor in Sweden, Setra Group AB.
Moelven also launched new websites in March.
For further information please contact:
CEO Hans Rindal, +47 90696910
Financial Director Morten Severed, +47 909 80 667
Ass. Financial Director Rune F. Andersen, +47 913 43 260
Communications and HR Director Kristin Bjørnstad, +47 907 13 701
Communications Consultant Tom Erik Holmlund, +47 916 68 668
www.moelven.no
www.moelven.se
www.moelven.dk
www.moelven.com
1st quarter 2012:
http://hugin.info/91/R/1605665/508619.pdf
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Source: Moelven Industrier via Thomson Reuters ONE
[HUG#1605665]
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Datum: 25.04.2012 - 01:32 Uhr
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