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Moelven Industrier ASA

A challenging European export market is the main reason for Moelven's operating loss of NOK 64 million in the first quarter.

Moelven Industrier ASA

Moelven has returned an operating profit of NOK 17 million for 2012. This is roughly the same as last year and is close to a break-even result. CEO Hans Rindal sees plenty of room for improvement.

Moelven Industrier ASA

A challenging market for industrial timber and a weak euro meant that Moelven ended the third quarter with an operating loss of NOK 14 million. Moelven's President and CEO believes that the challenges facing export industry in a competitive market could last for a while.

Moelven Industrier ASA

Moelven reported operating revenues of NOK 2,186 million for the second quarter, which is thus on par with the same period last year. The operating profit was NOK 45.5 million, which is NOK 10 million less than the corresponding period last year

On 24 April, the corporate assembly of Moelven elected a new Board, with only a few, minor changes. Grethe Sønsteby was elected to replace Elisabeth Bjøre.

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.

Today, Moelven publishes an internet version of its 2011 annual report. See video with President and CEO Hans Rindal and Moelven's divisional managing directors.

Pehr Eriksson manages Moelven's British organisation and the sale of timber in Britain. His duties involve being on the road two or three days a week. We recently joined him on an early morning visit to a big customer - Snows Timber in Glastonbury just south of Bristol.

Mark Dercksen is Moelven's man in the Netherlands. He supplies his Dutch customers with around 45,000 m3 of timber from Sweden and Norway every year.

Today's internet users don't hang around. Moelven wishes to provide better customer service online - with an information architecture to suit a modern, rather impatient user.

The total operating profit for Moelven in 2011 ended at NOK 13 million (243). Difficult market conditions internationally and losses on some individual projects were the main causes of the poor operating profit.

The combination of challenging international market conditions for Moelven's sawmills and losses linked to individual projects means that the Group returned a loss in the third quarter.

In the second quarter, Moelven earned NOK 56 million from operations. That is NOK 85 million less than in the same period last year. After financial costs, profit for the quarter was NOK 28 million.

On Thursday evening, Åge Holmestad of Moelven Limtre AS and Svein Dag Henriksen of Hydra Tidal AS received the innovation award Schweighofer Prize 2011 for their work on laminated timber turbine blades for a floating power station project at Gimsøystraumen in Nordland based on ocean and tidal currents.

The Moelven Group has signed an agreement for the acquisition of Vänerply. The acquisition of Vänerply means that an important product for Moelven board materials will now also be produced in-house.

A combination of a normal low season and discrepancy between the cost of raw materials and sales prices for key products meant that Moelven lost NOK 27 million in Q1.

Moelven earned NOK 242 million on operations in 2010, an increase in profit of NOK 151 million compared with last year.

Moelven had a profit of NOK 114 million on operations in the third quarter. The figure is approximately NOK 20 million more than in the same quarter last year.

Moelven earned NOK 141 million from operations in the year’s second quarter, which is NOK 117 million more than last year for the same period.

Moelven ByggModul AS has received an order from the contractor Malthus AS to deliver 750 fully furnished modules worth NOK 120 million to a construction site in connection with the building of a new nickel factory in New Foundland, Canada.

Tom Erik Holmlund
Communication advisor
Moelven Industrier ASA
+47 91668668
tom-erik.holmlund@moelven.com

Kristin Vitsø Bjørnstad
Director of Communications and HR
Moelven Industrier ASA
+47 90713701
kristin.bjornstad@moelven.com

2013