Setra announces its 2020 1H Results

In 1H 2020, sales of the Swedish Setra Group decreased by 7.4% YoY to SEK 2,203 million ($ 239 million). Operating profit fell 49.6% YoY to SEK 59 million ($ 6,4 million).

The effects of the COVID-19 virus continue to cause uncertainty. To date, however, Setra has succeeded in maintaining its full sawmill production, without furloughing any employees.

Deliveries during the second quarter were actually better than expected, powered primarily by sales to China, Japan and Sweden. There is some optimism concerning future development, given that deliveries to Europe in particular are expected to increase. That said, appreciable uncertainty still applies with regard to the development of the market over the second half of the year.