Koskisen Corporation: pre-silent period call - Q&A on the key themes of the second quarter of 2026
Koskisen Corporation press release on July 10, 2026 at 2:00 p.m. EEST
On 10 July 2026, Koskisen Corporation held a pre-silent period call for analysts following the company. This press release summarizes the key questions and answers discussed during the call.
The silent period preceding the publication of Koskisen’s Half-Year Report for January-June 2026 begins on July 15, 2026. The Half-Year Report will be published on 13 August 2026 at 8:30 a.m. EEST. A Finnish-language webcast will follow at 10:00 a.m. EEST, with the link to be provided later.
Q2/2026 – Key Questions and Answers
MARKET
Q: How has demand for sawn timber developed during Q2 relative to your expectations and normal seasonality?
A: Demand for sawn timber has been in line with our forecast and normal seasonality.
Q: How has sawn timber pricing developed during Q2, and do you see rising inflationary pressure affecting pricing dynamics in the market?
A: Sawn timber prices rose slightly from the previous quarter, but most of the increase was absorbed by higher freight costs. Weak demand made it difficult to pass higher freight costs on to prices. Compared with a year ago, sawn timber prices were slightly lower.
Q: Has demand for birch plywood matched expectations during Q2?
A: Demand for birch plywood has been slightly higher than forecast.
Q: How has birch plywood pricing developed during Q2, and do you see pressure for further price changes?
A: Higher production costs have been partly passed through to birch plywood prices. The uncertain market situation continues to slow the full pass-through of cost increases to market prices.
Q: A competitor is spinning off its plywood business into a separate company. Do you believe this will affect the market situation?
A: It is too early at this stage to assess any potential impact on the market situation.
Q: Has demand in the chipboard segment weakened further during Q2 as interest rates have risen somewhat?
A: Demand for chipboard has remained weak. A recovery in chipboard demand is waiting for a pickup in construction activity.
Q: Cost inflation accelerated in some areas during the second quarter. What kind of adjustments did this require from Koskisen?
A: Higher production costs have been partly passed through to product prices. The uncertain market situation continues to slow the full pass-through of cost increases to market prices. In the wood market, we aim to maintain sufficient inventories so that purchases can be adjusted to some extent according to the price situation.
Q: Has the rise in market interest rates already had a visible effect on construction sector activity and demand for wood products across markets?
A: The downturn in the construction sector has continued, and demand for wood products used in construction has remained moderate. The outlook for the rest of the year continues to depend largely on how consumer confidence develops and whether this is reflected in growing demand for wood products.
OPERATIONS
Q: Were there any disruptions or deviations from normal operations in Sawn Timber Industry production during Q2?
A: There were no significant disruptions or deviations from normal operations in Sawn Timber Industry production.
Q: Has sawmill production matched your expectations?
A: Sawmill production has been in line with forecast. Operationally, Q2 went well at the sawmills. Production at Järvelä’s further processing was lower than forecast at the start of the quarter, but the order book improved toward the end of the quarter, which increased production volumes.
Q: What kind of ramp-up are you targeting for the channel kilns and the additional capacity at the Järvelä sawmill?
A: The channel kilns were commissioned in mid-June as planned. This immediately removes bottlenecks at the end of the production process. We expect the increase in sawing volume from the current 400,000 cubic meters toward the strategic phase-two target of 450,000 cubic meters to progress as planned.
Q: How has birch plywood production progressed during Q2?
A: Birch plywood production progressed largely as planned. The ramp-up of the new technology continued to have some negative impact on production volumes and production costs.
Q: How are investments progressing, and will you complete the planned investments during the summer shutdown?
A: The Sawn Timber Industry’s largest investment this year, in new channel kilns, was completed in June as planned. Investments under the Panel Industry’s investment program will mainly be carried out during the summer shutdown in July–August.
Q: Did any Q1 deliveries slip into Q2 due to production challenges?
A: Production challenges early in the year shifted some Järvelä sawmill deliveries into April. In the Panel Industry, challenges with the new production technology have had a slight effect on production volumes, but deliveries have taken place as planned and have not been postponed due to production challenges.
Q: Oil prices fell clearly toward the end of the quarter. Did this affect logistics costs?
A: Oil prices fell toward the end of the quarter, but the lower oil price did not fully restore end-product freight rates to pre-war levels. We apply a fuel surcharge in forestry and production-related contracting.
Q: Has there been any normalization in the prices of raw materials other than wood, given the lower oil price?
A: Increases in raw material prices have leveled off, but remain significantly higher than before the rise in oil prices.
Q: What planned maintenance measures did you carry out in the second quarter, and how did they go?
A: Planned summer maintenance measures are scheduled for the summer shutdown in July–August.
Q: How long will the planned production shutdowns be in Q3 across the different units, and do you expect Q3 seasonality to differ from previous years?
A: In the Panel Industry, shutdown length ranges from two to four weeks depending on the product group. During this time, normal maintenance and maintenance work is carried out, along with investments under the ongoing investment program. In the Sawn Timber Industry, the shutdown lasts up to two weeks, depending on the department and site. We expect Q3 seasonality to follow the same pattern as in previous years.
Q: What do the order books look like for H2, and how does this compare with the same period last year?
A: The downturn in construction is continuing, and customers remain cautious in their purchasing. Koskisen’s sawn timber production is spruce-weighted; we nevertheless believe volumes will move in line with expectations. The Panel Industry market is challenging across all product segments. For birch plywood, order intake for H2 has been at the same level as in the corresponding period last year. Order flow in the other product segments is more moderate.
WOOD PROCUREMENT AND FOREST ENERGY
Q: How did the softwood log market develop in spring/early summer?
A: Softwood log prices continued to rise slightly from an already elevated level. Wood trading was clearly quieter than normal and heavily log-driven; wood trading volumes early in the year were around a quarter lower than in the corresponding period of 2025.
Q: What was log availability and wood trading activity like in your key procurement areas?
A: Availability of wood raw material tightened somewhat due to lower-than-normal supply. Wood supply nevertheless proceeded as planned, and wood was procured roughly in line with production needs.
Q: Do you believe the rise in log prices will ease in H2, in line with typical annual variation?
A: We see log prices leveling off and expect them to decline during the second half of the year. Current developments in the end-product market do not match the spring price trends and expectations seen in the wood market.
Q: How has your wood inventory developed during Q2?
A: Wood inventory is at the target level, and the outlook for the coming months is balanced.
Q: What level are energy wood fraction prices at ahead of the season?
A: Energy wood fraction prices have continued to fall from their peak but remain at a reasonable level over the longer term.
Q: How great a risk do you see in rising wood costs if demand starts to improve?
A: Prices, particularly for logs, are already at a high level, and at this stage we do not anticipate changes in the demand situation. Given overall profitability, the pressure on wood costs is downward.
For more information, please contact:
Sanna Väisänen, Director, Sustainability and Communications, Koskisen Corporation
sanna.vaisanen@koskisen.com
tel. +358 20 553 4563
Koskisen is an international wood processing specialist and known for its agility and ability to listen to the customer. We utilise our valuable wood raw material as thoroughly as possible, up to the last particle of sawdust. At the same time, we bring the best carbon narrative to life: We manufacture high-quality and sustainable products that store carbon for decades. The Group’s revenue in 2025 was EUR 355 million. Read more: koskisen.com