TreeToTextile AB is a joint venture between H&M group, Inter IKEA group and innovator Lars Stigsson since 2014, with the aim of developing new textile fibers in a sustainable way at attractive cost levels. Today TreeToTextile announces that Stora Enso will join this partnership, and also support the industrialization of TreeToTextile’s production process by setting up a demonstration plant at one of its Nordic facilities. “We are excited to welcome our new partner, Stora Enso, and to share more of the innovative work that we are doing at TreeToTextile. With the help of our new partner, we will be entering an industrialization phase. The new fiber that we have developed is both sustainable and produced at a lower cost,” says Annica Karlsson, chairman of the board, TreeToTextile AB. Click read more below for additional detail.
Operating profit, excluding items affecting comparability, for 2014 was SEK 1 734 million (2013: 1 209). The improvement in profit is due to higher prices for printing paper and sawn timber, a weaker Swedish krona and reduced production costs for paperboard.
Operating profit for the fourth quarter, excluding items affecting comparability, amounted to SEK 472 million, which was SEK 50 million lower than in the third quarter owing mainly to seasonally higher staff and energy costs.
Operating profit for 2014 after items affecting comparability amounted to SEK 1 284 million (1 069). In the fourth quarter, an impairment of SEK 450 million was recorded for Braviken Sawmill, which is reported as an item affecting comparability.
Profit after tax amounted to SEK 907 million (711), which corresponds to earnings per share of SEK 10.8 (8.5). Excluding items affecting comparability, profit after tax amounted to SEK 1 258 million (820) and earnings per share was SEK 15.0 (9.8).