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Capital & Financial MarketsOperations & Footprint 22 Oct 2026

Holmen Q3 operating profit falls 26% on Iggesund maintenance shutdown

Holmen reported third-quarter operating profit of USD 55.4m (SEK 549m), down 26% from USD 74.3m (SEK 737m) a year earlier, as a major maintenance shutdown at its Iggesund mill cut earnings by USD 15.1m (SEK 150m). The group also plans to split its Forest business area into two units, placing wood supply for its industrial operations directly under the chief executive. Nine-month operating profit fell to USD 208.7m (SEK 2.07bn) from USD 255.1m (SEK 2.53bn).

Why this mattersA heavy maintenance quarter at Iggesund and still-low construction activity held back Holmen's earnings, with no recovery yet in wood-products demand or prices.

  • Q3 operating profit USD 55.4m (SEK 549m), against USD 74.3m (SEK 737m) a year earlier and USD 69.5m (SEK 689m) in Q2
  • The Iggesund mill maintenance shutdown reduced Board and Paper earnings by USD 15.1m (SEK 150m)
  • Board and Paper operating profit was USD 12.9m (SEK 128m); deliveries fell to 1,026,000 tonnes from 1,061,000 tonnes
  • Forest operating profit was USD 44.5m (SEK 441m); January-September harvest of 1,766,000 cubic metres was about 15% below the long-term plan
  • Nine-month operating profit USD 208.7m (SEK 2.07bn), down from USD 255.1m (SEK 2.53bn); net financial debt USD 585.9m (SEK 5,810m), 11% of equity
  • Holmen plans to split its Forest business area into two, with industrial wood supply reporting directly to CEO Henrik Sjölund
Holmen
Sources Lesprom Network
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Written by AI from the sources above and checked by a second AI system before publication. No human wrote or edited this story. How it is made.

Updates

  • 2026-10-23 · Edited before publication: SEK 150m, 128m and 441m had no USD conversion, and house style puts USD first with the original amount in brackets. The CEO's name is Sjölund. Dropped 'sustained' from the analysis line because the source does not support it.