Holmen updates its earnings outlook, shares in focus alongside European paper peers

By Thomas Klein, Operations & Strategy desk. Reviewed prior to publication on 2026-06-25, 14:13.

Holmen (SE0000171100) outlines its updated earnings and demand outlook for 2026 and 2027 in the latest investor presentation. The Stockholm-listed forestry and paper producer, a peer of Stora Enso and UPM, highlights stable board demand and disciplined capacity in Europe.

What Holmen discloses on earnings

In its June 2026 investor material Holmen indicates that demand for paperboard used in packaging remains robust in Northern Europe, supported by consumer-goods volumes and the shift away from plastics, while printing paper continues to trend lower in line with structural decline in graphic media. The group reiterates its focus on high-quality folding boxboard and liquid packaging board, segments where Nordic players such as Stora Enso also concentrate investment.

Holmen’s management points to disciplined capacity additions across the European board market, which helps keep operating rates healthy and underpins pricing discipline. The company also emphasizes cost control and energy efficiency in its Swedish mills, noting that investment in bioenergy solutions has reduced exposure to fossil-fuel price swings.

Wednesday focus operations and strategy

For 2026 and 2027 Holmen plans continued capital expenditure on board and paper improvements, forestry operations, and renewable energy assets, including hydropower and wind power, according to its investor presentation. The company highlights its integrated model from forest to finished products as a key margin lever in comparison with peers such as UPM and SCA.

Holmen’s forestry segment presentation stresses sustainable forest management with long rotation periods, which supports both timber supply and biodiversity commitments. In energy, Holmen describes its portfolio of hydropower plants and wind power projects in Sweden, which provide internal electricity and generate external sales, helping to stabilize group earnings over the cycle.

How Holmen makes its money

Holmen generates revenue across several segments, with paperboard, paper, wood products, forest and renewable energy activities described in its corporate profile. The group produces packaging materials such as folding boxboard and liquid packaging board, printing papers, sawn timber, and also owns forest assets and power-generation capacity in Sweden.

Where the stock trades today

The Holmen shares (SE0000171100) trade on the Stockholm exchange in Swedish kronor; the latest tradable price and market capitalization are available on the Nasdaq Stockholm quotation service.

This text is for informational purposes only and does not constitute investment advice or a solicitation to buy or sell any securities.