Holmen AB (HOLM_A) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, everybody, and welcome to the year-end report presentation for the Holman Group. It's me, Henrik, and Stefan, as usual, now I must say. Thank you. You're most welcome to listen to us. We do the presentation, then we're happy to take all your questions, and we are especially happy that you take your time on a Friday afternoon like this. So let's start. I think if we just make a very quick summary of the year, it felt like we were a bit optimistic in the beginning of the year, but after a while it changed into... geopolitics tariffs and also cautious consumers not really spending and also construction business that didn't really take off but we come back to that a bit late Despite challenging market conditions, we were able for the full year of 2025 to deliver close to 3.3 billion Zinc, which we consider as fairly good. Also in the fourth quarter, but I think in the fourth quarter we'll come back to it when we go through the different business areas. It makes more sense. If we then take our industry, which means our right now loss-making sawmills and board and paper, we've been able during the year to deliver return on capital of employed of 15%. And based on our performance and also our financial position, We had a board meeting this morning where the board of directors decided to propose to the general annual meeting to increase the ordinary dividend from SEIK 9 to 9.50. And just to remind ourselves what we have distributed to our shareholders. The last five years, in total, $13 billion in dividends and buybacks. And given, as I said, our financial position where our debt-to-equity ratio is at the current moment roughly 10%, we are in a solid financial situation. All right. Then a few words about the wood market, and we come back to forest and forest ...