The result in the year where everything was different was one of the strongest for Moelven of all time. The group reported an operating profit of NOK 662.2 million – an increase of almost NOK 330 million compared to the previous year.

“2020 will be recorded the history books as one of the most difficult and best years in Moelven’s history. Rarely have we known less about what would await us around the next corner, but great uncertainty soon turned into huge demand for wood products when the pandemic struck,” says CEO Morten Kristiansen of Moelven Industrier ASA.

Moelven increased revenues by well over NOK 1.3 billion from 2019 to 2020, and ended with turnover of NOK 11.7 billion in 2020. The operating result was NOK 662.2 million, which is almost double the previous year (NOK 335.4 million).

“We have succeeded financially because we have been able to meet the huge demand for wood products both domestically and internationally. So far we have been spared from major infection outbreaks, with a few exceptions. This proves that our employees have complied with infection control rules and have remained healthy. This has been essential. We are grateful and proud of our employees, and of they way they have handled this difficult year,” Kristiansen says.

HSE initiative

Even though 2020 was a strong year for Moelven in financial terms, a dark shadow was cast over the results. This is due to a fatal accident at Moelven Edanesågen AB in August.

“It was one of the darkest days of Moelven’s history. We do not want to experience any more of these. We still have too many injuries in the group, and are working hard to prevent them. There are a number of specific measures that have been implemented or that are in the process of being implemented,” Kristiansen explains.

New coronavirus year

Although the vaccination programme has started in Moelven’s home market, the group expects that large parts of 2021 will also be affected by the pandemic. This entails greater uncertainty in market developments than normal, challenges to production capacity in the event of infection outbreaks, and restrictions on mobility in society.

“We have become more digital and have shown an ability to cope with unpredictable events. This is important learning that we will build on. In addition we will be focusing heavily on cost-efficient operations and a viable and forward-looking Group structure,” Kristiansen says.

Read the interim report for Q4 2020 here (PDF).