In reporting its full year 2022 performance, Holmen confirmed sales reached SEK 23,952m, up from SEK 19,479m the year before. The company, which owns the Iggesund brand, recorded profit after tax of 5,874m, up from SEK 3,004m the year before.
“2022 has been characterised by the energy crisis in Europe and the war in Ukraine, while the world’s central banks struggled with high inflation driven by shortages of raw materials,” said Henrik Sjölund, President and CEO. “With our own forest and energy production as a foundation, we at Holmen have been able to advance our positions in several segments, despite the uncertain environment. A planned maintenance shutdown at Iggesund Mill had a negative impact on earnings of SEK 250m. Backed by a strong wood supply and advantageous energy situation, we intend to double our rate of investment in Iggesund Mill over the next five years, aiming to increase the mill’s paperboard production by 25%,” he confirmed.