Setra reports negative Q1/2023 due to low prices and high costs

Swedish timber company Setra reported an operating loss of €5.64 million for the first quarter of 2023. A year earlier, in January-March, the manufacturer achieved an operating income of 42.31 million euros. In addition, net sales in the reporting period amounted to 124.64 million euros, compared to a year earlier - 161.66 million euros. Katarina Levin, CEO of Setra, explained the development of negative trends: “Good shipments continued in the first quarter, but unfortunately with negative margins for Setra. This is mainly due to low prices and high raw material costs combined with higher energy ...