The Norwegian company Moelven Industrier improves on its operating profit for Q3 by NOK 46 million compared to the same quarter last year. The earnings improvement is attributed to operational improvements and more favourable market conditions, according to a press release from Moelven.
Revenues in the third quarter were NOK 2,028 million (NOK 1,883 million) and operating profit was NOK 18 million (minus NOK 28 million).
Operating revenues thus increased compared with the same period last year, primarily due to higher prices for finished products from the companies in Timber and Wood, and a higher level of activity and improved prices for the Modular Building companies and Glulam.
Acting President and CEO Morten Kristiansen of Moelven Industrier ASA confirms that Moelven is doing better now than last year, and that the group is headed in the right direction.
“This is a satisfactory improvement in results. Specifically, in addition to the rising prices for finished products from Timber and Wood, it is the realisation of operational improvements that are the causes of the improved results. We are now starting to see the results of long-term improvement efforts that have been ongoing in our operations for some time. I am very concerned with telling employees, customers and other important partners that our full attention is on our internal improvement work. There is no letting up,” Kristiansen says.
