The shoe industry is doing very well at the moment. Viken skog sent out a press release saying they had NOK 3.4 billion in turnover in 2022. NOK 400 million of that profit.
– This is due to good operations and a strong market for forest products, as well as high returns from investments in the value chain, they wrote in the press release.
The company’s board of directors proposes to pay approximately NOK 40 million to the owners. Viken Forest is owned by 8,900 forest owners in eastern Norway, including the interior. Among other things, they have their own branch office in Dokka and have a number of ownership stakes in other companies and direct subsidiaries.
highest earnings
The company writes that the significant 13 percent growth in operating income is primarily due to higher demand for timber in the global market. Turnover of parent company Viken Skog was NOK 2.2 billion, an increase of 22 percent.
The results of both the group and the parent company are satisfactory. We’ve never had such a high operating income, and we’re delivering good operating and financial results,” says Vibeke Teslo-Andersen, CFO at Viken Skog. In the press release.
The group made an annual profit of NOK 515 million, which is NOK 463 million less than in 2021, when they said there was an unusually high price for lumber. The parent company’s result was NOK 419 million – more than double the previous year’s result. Among others, Viken Skog owns approximately 33 percent of the shares in Moelven industrier AS. They also own approximately 54 percent of Pigna Brooke.
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– Moelven Industries delivered its second best annual result, and our ownership continues to contribute to a high yield. Chairman of the Board Olaf Breivik said in the press release that 2021 and the beginning of 2022 were marked by very high activity in the construction goods trade.
million cubic meters of windfall revenue
The group cut 3.6 million cubic meters of timber last year. Much of this is due to the extraordinary post-storm liquidation in 2021. The company has removed nearly 1 million cubic meters of windfall. There is also a lot of work to be done here.
– This community preparedness shows the importance of active forestry, says Tor Henrik Christiansen, general manager of Viken Skog.
It is proposed to pay 40 million of the profits to the owner – that is, the owners of the forest. They would then consolidate their equity to secure the construction of a new wood pulp mill in the industrial area of Treklingen.
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– If all goes as planned, Viken Skog’s stake in this investment will be significant. For this, the company needs a solid capital. If the annual meeting approves the board’s proposal, the capital in Viken Skog will increase to NOK 1.2 billion, making us well equipped to make such an investment, Breivik says.
The proposals will be considered at the annual meeting on March 29.
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