Sveaskog (SVEA) Q2 2026 earnings summary

Executive summary

• Revenue declined by 9% year-over-year to 2,226 MSEK in Q2 2026, mainly due to a 12% drop in timber prices, while delivery volumes increased by 2%.

• Operating profit fell 42% to 431 MSEK in Q2, primarily from lower timber prices; net profit rose 45% to 483 MSEK due to positive revaluation of biological assets.

• For H1 2026, revenue was 4,348 MSEK (-9% YoY), operating profit 1,109 MSEK (-30%), and net profit 1,370 MSEK (+181%), supported by a 343 MSEK gain from property sales.

• The company continues to focus on core business, divesting non-core assets and investing in innovation and sustainability.

Financial highlights

• Q2 2026 net sales: 2,226 MSEK (2,454), operating profit: 431 MSEK (740), net profit: 483 MSEK (334).

• H1 2026 net sales: 4,348 MSEK (4,779), operating profit: 1,109 MSEK (1,579), net profit: 1,370 MSEK (488).

• Earnings per share for H1: 11.57 SEK (4.12).

• Cash flow from operations: 1,389 MSEK (946) for H1.

• Real estate sales contributed 343 MSEK to profit in H1.

Outlook and guidance

• Market conditions remain challenging with weak demand and pressured margins in the timber and pulp sectors; recovery not expected before 2027.

• The company aims to further streamline operations, focus on core business, and pursue new business opportunities in renewable energy and land management.