Holmen highlights forest strategy, shares in focus for European paper peers

By Stefan Krueger, Long-Term & Business Model desk. Reviewed prior to publication on 2026-06-23, 14:25.

Holmen (SE0000171100) remains a key Nordic forestry and paper player for investors following European names such as Stora Enso and UPM-Kymmene. The Stockholm-listed group continues to emphasize integrated forest, paperboard and renewable energy operations as the backbone of its equity story.

Holmen in the Nordic peer context

With its dual focus on forest assets and board production, Holmen competes directly with Stora Enso and UPM-Kymmene in packaging, printing paper and wood products across Europe. Nordic producers collectively influence European benchmark prices for pulp, paperboard and sawn timber.

The company’s extensive forest holdings in Sweden underpin long-term wood supply security and create a structural difference versus some continental peers that rely more on external wood procurement. This vertical integration helps stabilize margins over the cycle when raw material prices fluctuate.

Strategy and operations over the cycle

Holmen’s business model combines managed forests, industrial mills and hydro and wind power assets to balance cyclical swings in paper and board demand. Over time this has allowed the group to invest in energy-efficient capacity and upgraded board lines while maintaining a strong balance sheet.

Packaging demand in Europe is structurally supported by e-commerce, food distribution and a gradual shift away from plastics. Nordic producers such as Holmen, Stora Enso and UPM-Kymmene position their board portfolios to capture growth in liquid packaging, containerboard and specialty cartons in these segments.

How Holmen makes its money

Holmen generates revenue primarily from board, paper and sawn wood products underpinned by sustainably managed forests in Sweden. Additional income stems from hydro and wind power generation, which supports internal energy consumption and can be sold into the Nordic power market.

Where the stock trades today

The Holmen shares (SE0000171100) trade on Nasdaq Stockholm; the latest verifiable price information and market capitalization are available via the exchange and the company’s investor relations pages.

This text is for informational purposes only and does not constitute investment advice, investment recommendation or an offer or solicitation to buy or sell any financial instrument. Historical performance is not a reliable indicator of future results.