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Sustainable business goals follow-up
Forest
In 2023, volumes amounted to 2.7 million m3, which is in line with the current harvesting plan. The value of the Group’s forest assets increased by 8 per cent to SEK 56 billion.
Industry
The industrial operations are run with a focus on long-term profitability. The target is for a sustained return of over 10 per cent on capital employed.
Over the past 10 years, the return for the industrial side of the business has averaged out at 18 per cent, and in 2023 the figure was 27 per cent, driven by excellent profitability in Paper.
Renewable energy
The production of renewable energy will increase by complementing our existing hydro power with wind power on our own land.
In 2022, Blåbergsliden Wind Farm came online and the outstanding shares in Varsvik Wind Farm were acquired. These sites generated 450 GWh wind power in 2023.
Climate benefit
We will increase our benefit to the climate through higher growth in our forest and higher sales of renewable products that store carbon dioxide and replace fossilbased alternatives, while also reducing the fossil emissions along our value chain.
The erection of new wind turbines and expansion of the wood products business have increased Holmen’s climate benefit, which in 2023 came in at 7.5 million tonnes CO2e, with all the business areas making a positive contribution.
More information regarding Holmens contribution to the climate.
Capital structure
Our financial position is to be strong in order to secure room for manoeuvre when making long-term commercial decisions. Net financial debt will not exceed 25 per cent of equity.
Net financial debt in relation to equity has consistently been below 10 per cent over the past five years, and stood at 3 per cent in 2023.
Dividend
Holmen will generate a good annual dividend for shareholders. The level is determined by the Group’s profitability, investment plans and financial situation. The dividend is supplemented with share buy-backs where this is judged to create long-term value for shareholders.
The Board proposes that the 2024 AGM approve a dividend of SEK 8.5 per share and an extra dividend of SEK 3.0 per share.