The latest results from Scandinavia’s largest forest industry groups tell a consistent story. Processing wood has become a low-margin business again. Owning forests has not. Across Finland and Sweden, the major industrial players reported weaker earnings, squeezed margins and continued price pressure. Yet one of the region’s largest forest owners delivered record profitability. The contrast is not accidental. It reflects where value currently sits in the wood chain. Processors under pressure Metsä Group posted a comparable operating loss of €85 million for 2025. Pulp and paperboard markets remained soft, and prices declined across several ...
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