Quarter  Full Year 
SEKm  4-17  3-17  4-16  2017  2016 
Net sales  3 908  3 947  3 937  16 133 15 513 
Operating profit
excl. items affecting comparability 		 421  593  579  2 166 2 162 
Operating profit  421  593  579  2 166 1 930 
Profit after tax  332  456  442  1 668 1 424 
Earnings per share, SEK  4.0  5.4  5.3  19.9 16.9 
Operating margin, % *  10.8  15.0  14.7  13.4 13.9 
Return on capital employed, % *  6.7  9.4  9.3  8.7 8.6 
Return on equity, %  6.1  8.5  8.5  7.8 6.9 
Cash flow before investments and working capital  588  498  527  2 310 2 320 
Debt/equity ratio  0.13  0.17  0.19  0.13 0.19 

* Excluding items affecting comparability of SEK -232 million in 2016. See also page 15.

  • Operating profit for 2017 amounted to SEK 2 166 million (2016: SEK 2 162 million excluding items affecting comparability). Deliveries of paperboard, paper and wood products increased and the sales mix improved, but this was offset by higher costs for input goods and shipping, as well as significant maintenance shutdowns.
  • Compared with the third quarter, operating profit decreased by SEK 172 million to SEK 421 million, mainly as a result of costs and production losses from a maintenance shutdown at Iggesund Mill.
  • Profit after tax for 2017 was SEK 1 668 million (1 424), which corresponds to earnings per share of SEK 19.9 (16.9).
  • Return on capital employed was 8.7 (8.6) per cent.
  • Cash flow for 2017 was strong and covered the dividend of SEK 1 008 million, and reduced net debt by SEK 889 million.
  • The Board proposes a dividend of 13 (12) per share. The Board also proposes a share split of 2:1, whereby each share is divided into two shares.

For further information please contact:
Henrik Sjölund, President and CEO, tel. +46 8 666 21 05
Anders Jernhall, Executive Vice President and CFO, tel. +46 8 666 21 22
Stina Sandell, Director of Sustainability and Communication, tel. +46 73 986 51 12

This information is information that Holmen AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 30 January 2018 at 11.45 CET.