Investment in the Braviken paper mill: Holmen halts production for a second time in the fourth quarter
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Swedish paper and board manufacturer Holmen will shut down production at the Braviken paper mill for a month in the fourth quarter due to an ongoing investment project.
This is due to the investments announced in 2023 to develop the book paper range and increase packaging paper production, as Holmen reported in its financial statements for the second quarter of 2024. The annual maintenance shutdown in Iggesund will also take place in the fourth quarter. The two shutdowns are expected to impact earnings by a total of skr 250 million, Holmen writes.
The company's business development in the second quarter was characterized by restrained consumer spending and low construction activity. Demand for cartonboard increased in Europe, while demand for paper stagnated. Sales volumes in the Board and Paper division were higher in the second quarter (361,000 tons) than in the same period of the previous year. As a result, the division recorded a 4% increase in sales to skr 3.89 billion. The operating result fell significantly by more than 60% to skr 438 million.
