Setra, one of the major construction softwood suppliers for the UK, has recently announced its financial results for the first half of the year. The report released by the Swedish company shows an operating profit of SEK 76 million, 13.6% lower than the same period of 2015. Sales for the company amounted to SEK 2,188 million (2015: 2,270).
Now, with the UK leaving the EU, Setra president and CEO, Hannele Arvonen, said that this would bring a lot of uncertainty and unease in the short-term, as the UK is one of the largest export markets for the Swedish company. Setra has 12 mills in Sweden.
“The market for wood products continued to develop in a positive direction during the second quarter. We can see a significantly better balance in the market, particularly for whitewood products,” added Arvonen.
Setra’s subsidiary within industrial-scale construction of wooden buildings, Setra Plusshus, was sold and these operations were transferred to Derome on 1 June 2016. Setra has concluded that Plusshus will develop better with an owner which has wooden building construction as its core business and that Setra’s role is to be a strategic partner to companies engaged in wooden building construction.
In autumn 2015 Setra decided to phase out the planing operations in Valbo. In June 2016 an agreement was signed with the Profura Group to take over the operations on 1 July 2016. The purchaser plans to continue with these operations and has offered employment to all employees.
