Sveaskog (SVEA) Q4 2025 earnings summary

Executive summary

• Revenue for 2025 increased by 5% year-over-year to 8,746 MSEK, driven by higher average timber prices despite a 6% decrease in delivery volumes.

• Operating profit rose 10% to 2,275 MSEK, mainly due to higher timber prices, offset by increased forestry costs and reclassifications related to subsidiary sales.

• Net profit for the year was 10,910 MSEK, up 41% from 2024, with EPS at 92.15 SEK.

• The board proposes a dividend of 1,338 MSEK, reflecting 100% of the distributable base.

Financial highlights

• Q4 revenue was stable at 2,198 MSEK, with a 5% increase in timber prices but a 3% drop in volumes.

• Q4 operating profit fell 46% to 310 MSEK due to provisions and cost reclassifications from subsidiary sales.

• Net change in biological assets' value was 12,223 MSEK for the year, mainly from higher timber prices in valuation models.

• Cash flow from operations was 1,416 MSEK, with investments in fixed assets totaling 607 MSEK.

Outlook and guidance

• Market conditions remain uncertain, with continued challenges in the construction sector and pulp product competition.

• Timber demand is expected to remain stable, but price pressure may persist.

• The company is focusing on growth in forestry, sustainable value creation, and renewable energy projects.