Holmen edges up on Q2 beat as 'self-sufficiency' trumps inflation

Holmen AB

19/08/2022 08:54

** Shares in Holmen  HOLMb.ST  rise around 2% after the
Swedish maker of paper products posted Q2 profit well above
expectations, citing "self-sufficiency" which helped it weather
rising costs  urn:newsml:reuters.com:*:nFWN2ZU5B1
    ** Holmen's Q2 EBIT rises to a record high 2.10 billion
Swedish crowns ($200 million), 28% above consensus cited by
Credit Suisse
    ** "Cost inflation was limited by our high level of wood and
energy self-sufficiency," the company says
    ** "Virgin fibre based production and high level of wood and
energy self-sufficiency are keys to strong performance as prices
are set on marginal, and extremely high costs" - CS
    ** Holmen shares are among top risers on Europe's STOXX 600
index  .STOXX , which falls 0.3%

($1 = 10.5213 Swedish crowns)

 (Reporting by Boleslaw Lasocki)
 ((boleslaw.lasocki@tr.com))