Holmen Interim Report January-June 2020

*Operating profit for January-June was SEK 1 170 million (January-June 2019: 1 217). Price decreases and production curtailments in paper had a negative impact on profit, which was largely offset by higher profit from paperboard and forest.
*Compared with the first quarter, operating profit decreased by SEK 86 million to SEK 542 million as a result of lower demand for paper caused by COVID-19. Profit for paperboard and wood products increased.
*Profit after tax for January-June amounted to SEK 902 million (954), which corresponds to earnings per share of SEK 5.6 (5.7).
*The Board of Directors proposes a dividend of SEK 3.5 per share for decision at an Extraordinary General Meeting in September.
*In July, Holmen signed an agreement to acquire 100 per cent of the shares in Martinsons for SEK 1.0 billion. Martinsons is one of Sweden’s leading players in sawn and processed wood products, with an annual timber consumption equivalent to Holmen’s timber harvest in Northern Sweden. The acquisition is subject to approval by the relevant competition authority, which is expected in the fall.
details at: http://investors.holmen.com/files/press/holmen/202008130112-1.pdf

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