Operating income was SEK 261 (142) million and income after tax was SEK 189 (102) million.

However, CEO Alrik Danielsson emphasised the importance of caution as far as the European markets are concerned. “The market remained positive in the quarter, and Höganäs had its best third quarter ever. But uncertainty regarding short-term demand conditions persists, mainly due to uncertainty regarding progress in Europe,” he said. “Höganäs is maintaining its cost focus, and has succeeded in increasing production volumes sharply for limited extra costs. This puts Höganäs in a strong position for the future.”

While the market is strong in Asia and South America, and is gradually recovering in North America, the report suggests that underlying demand in Europe will remain weak.