"For pulp the year was characterised by a downturn in demand and falling prices," said president and chief executive Anders Wahroln.
The groups pulp operation Sdra Cell, suffered a 65% fall in net operating income to 62m (SEK920m), with net sales down 10% to 461m.
Wahroln said Sdra expected a partial recovery towards the end of this year.
Capital expenditure was 70m. The groups largest on-going project is the new recovery boiler at its Vr mill. It is also installing new biological treatment plants at the Vr and Mrrum mills in Sweden.
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