Operations in 2015
Net sales rose 5% to SEK 17,279m (16,490). Sales growth excluding exchange rate effects was 3%, of which volume accounted for 2% and price/mix for 1%. Exchange rate effects increased sales by 2%.
Kraftliner showed higher prices (including exchange rate effects) and higher volumes. Publication papers showed higher prices (including exchange rate effects) and lower volumes. Solid-wood products showed lower prices (including exchange rate effects) and higher volumes. Pulp showed higher prices (including exchange rate effects) and unchanged volumes.
Operating profit, excluding items affecting comparability, rose 4% (17% excluding gains on forest swaps) to SEK 2,605m (2,505). Higher prices (including exchange rate effects), higher volumes, lower raw material and energy costs, and cost savings contributed to the earnings increase. Gains on forest swaps recognized in the income statement were lower than in the preceding year and amounted to SEK 0m (336).
The operating margin 1) was 15.1% (15.2).
The return on capital employed 1) was 6.9% (6.6).
Operating cash surplus amounted to SEK 3,319m (2,750) and operating cash flow to SEK 2,501m (1,440).
Capital expenditures in non-current assets amounted to SEK 1,815m (1,060).
Operating profit 1), SEKm:
2,605
Operating margin 1):
15.1%
SEKm |
2015 |
2014 |
||
|
||||
Net sales |
17,279 |
16,490 |
||
of which internal |
482 |
424 |
||
Operating cash surplus |
3,319 |
2,750 |
||
Change in working capital |
95 |
–342 |
||
Current capital expenditures, net |
–869 |
–876 |
||
Other operating cash flow |
–44 |
–92 |
||
Operating cash flow |
2,501 |
1,440 |
||
Operating profit 1) |
2,605 |
2,505 |
||
Operating margin, % 1) |
15 |
15 |
||
Capital employed |
37,217 |
37,831 |
||
Return on capital employed, % 1) |
7 |
7 |
||
Strategic capital expenditures |
|
|
||
plant and equipment |
–946 |
–184 |
||
company acquisitions/divestments |
279 |
–18 |
||
Average number of employees |
4,153 |
4,293 |
||
No. of employees at Dec. 31 |
4,276 |
4,134 |
TARGET
For the Forest Products business area
- Return on capital employed is to be in the top quartile of the industry over a business cycle.
- To grow in line with the market.
1) Excluding items affecting comparability.