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Interim report January - September 2021 Q3 " The market for sawlogs is strong in the third quarter . " SVEASKOG Net sales MSEK 5,032 ( 4,916 ) Jan - Sep previous year Operating profit from continuing operations 1,033 MSEK ( 812 ) Jan - Sep previous year Profit for the period 1,586 MSEK ( 1,035 ) Jan - Sep previous year SIGNIFICANT EVENTS > The market situation for the Swedish sawmill operations con tinues to develop strongly , with Sveaskog being an important supplier of wood raw materials . > Profit for the period increased by SEK 291 million , with the increase in earnings from asso ciated companies having a major impact , primarily from Setra Group by SEK 231 million . SIGNIFICANT EVENTS AFTER THE QUARTER > The Board has appointed Erik Bransma as the new President and CEO . He will take up his position on 15 January 2022 . 1 JULY - 30 SEPTEMBER 2021 > Net sales increased by 13 per cent to MSEK 1,472 ( 1,307 ) . Total delivery volumes increased by five per cent and the prices of wood raw materials increased by eight per cent on average . > Operating profit increased by 79 per cent to MSEK 243 ( 136 ) . The increased profit is primarily due to a new method for valuing forest assets . The new method means that costs for reforestation , MSEK 75 , from this year are recognised under change in value of forest assets . Despite the new method , the underlying profit is somewhat higher than in the previous year , despite increased nature conservation costs . ( See more on pages 10 and 11 ) . The reported net change in value of standing timber amounted to MSEK 113 ( 157 ) . > Profit for the quarter amounted to MSEK 499 ( 208 ) , equivalent to SEK 4.21 ( 1.76 ) per share . MSEK Net sales Operating profit from continuing operations Change in value of forest assets Operating profit Profit before tax Profit for the period Cash flow from operating activities Earnings per share , SEK KPIs¹ , Group Dividend yield , % ( target at least 4.5 % ) ¹ , 2 Net debt / equity ratio , multiple ( target 0.3-0.6 ) ¹ Return on operating capital , % ² Return on equity , % ² Interest coverage ratio , multiple2,3 Equity ratio , % Net interest - bearing debt , MSEK Average number of employees Total delivery volume , thousand m³sub 3 months , Jul - Sep 2021 1,472 243 113 601 565 499 223 4.21 2020 1,307 136 157 303 263 208 322 1.76 % 13 % 79 % -28 % 98 % 115 % 140 % -31 % 139 % 1 JANUARY - 30 SEPTEMBER 2021 > Net sales increased by two per cent to MSEK 5,032 ( 4,916 ) . Total delivery volumes were almost unchanged and prices of forest raw materials increased by an average of two per cent . > Operating profit increased by 27 per cent to MSEK 1,033 ( 812 ) . The increased profit is primarily due to a new method for valuing forest assets . The new method means that costs for reforestation , MSEK 202 , from this year are recognised under change in value of forest assets . Despite the new method , the profit is somewhat risen than in the previous year , despite increased nature conservation costs . ( See more on pages 10 and 11 ) . > The reported net change in value of standing timber amounted to MSEK 414 ( 464 ) . > Profit for the period amounted to MSEK 1,586 ( 1,035 ) , equivalent to SEK 13.40 ( 8.74 ) per share . 9 months , Jan - Sep 2021 5,032 1,033 414 1,971 1,868 1,586 788 13.40 1 ) The lower dividend yield and net debt / equity ratio for the quarter are primarily due to a new accounting method for valuing forest assets . 2 ) Rolling 12 months . 3 ) Operating profit before change in value of forest assets excl . capital gains on property sales plus financial income divided by financial expenses . 2020 4,916 812 464 1,420 1,309 1,035 375 8.74 % 2 % 27 % - 11 % 39 % 43 % 53 % 110 % 53 % 2021 3.8 0.13 29.0 27.3 12.7 68 7,665 800 7,906 Oct 2020 Sep 2021 months , Jan - Sep 6,713 1,341 12,431 14,372 14,227 11,418 1,036 96.44 2020 3.7 0.33 5.8 5.6 7.9 56 7,801 801 7,834 12 months 2020 6,597 1,120 12,481 13,821 13,668 10,867 623 91.78 12 months Oct 2020 - Sep 2021 3.8 0.13 29.0 27.3 12.7 68 7,665 800 10,701 % 2 % 20 % 0 % 4 % 4 % 5 % 66 % 5 % 2020 2.4 0.13 28.2 26.2 7.6 68 7,613 827 10,629