# HOLMEN B

Summary updated: 2026-10-04T15:36:34.058016Z
Canonical: https://finbar.com/research/companies/holmen-b

## Overview

Holmen AB (Holmen B) is a Swedish forest-products and renewable-energy company, with businesses spanning forestry, wood products, paperboard and paper, and renewable electricity. Its integrated model uses timber for construction products, fibre for paperboard and paper, and rivers and wind for renewable power. Holmen describes its business concept as “to own and add value to the forest,” supplying renewable products made from Swedish forests to customers around the world. [1](https://app.finbar.com/go?id=P65849189)[2](https://www.holmen.com/en/about/holmen-in-short/business-idea-strategy-and-targets/)

Its forests and core operations are in Sweden, with production facilities also in the UK and sales internationally; Holmen reports operations in 13 countries. In 2025, it recorded net sales of SEK 22,056 million and employed 3,435 people. [3](https://www.holmen.com/en/about/)[4](https://www.holmen.com/en/about/holmen-in-short/productionunits/)[5](https://app.finbar.com/go?id=P28490150)
[1](https://app.finbar.com/go?id=P65849189)[5](https://app.finbar.com/go?id=P28490150)[2](https://www.holmen.com/en/about/holmen-in-short/business-idea-strategy-and-targets/)[3](https://www.holmen.com/en/about/)[4](https://www.holmen.com/en/about/holmen-in-short/productionunits/)

## Products & services

Holmen sells logs, pulpwood and biofuel to industrial customers, including sawmills and pulp, board and paper mills. Its wood products include construction and joinery timber, cross-laminated timber (CLT), glulam, roof trusses and other construction components, as well as timber for pallets and packaging. It also offers planed and pressure-treated wood through builders’ merchants. [6](https://app.finbar.com/go?id=T8475885)[7](https://www.holmen.com/en/woodproducts/wood-and-construction-products/wood-products-for-industry2/)[8](https://www.holmen.com/en/woodproducts/wood-and-construction-products/wood-products-for-hardware-store2/)

In board and paper, product families include Invercote and Incada paperboard, and paper for books, magazines, advertising and transport packaging. Invercote is fresh-fibre solid bleached board used for premium packaging and graphics; the Invercote G grade is triple-coated, with listed grammages including 200 and 220–380 g/m². Holmen BOOK grades serve book and educational publishing, while Holmen VIEW is lightweight uncoated paper for magazines, catalogues and direct mail. [6](https://app.finbar.com/go?id=T8475885)[9](https://www.holmen.com/en/board-and-paper/products/paperboard/)[10](https://www.holmen.com/en/board-and-paper/products/paperboard/invercote/invercote-g/)[11](https://www.holmen.com/en/board-and-paper/products/book-paper/book/)[12](https://www.holmen.com/en/board-and-paper/products/graphical-paper/view/)

Holmen also sells renewable electricity generated by its hydro and wind power operations into the Nordic electricity market, and provides grid-stabilisation services. The company reports 21 wholly or partly owned hydropower plants and normal annual hydropower production of 1,112 GWh. [6](https://app.finbar.com/go?id=T8475885)[13](https://app.finbar.com/go?id=T2746196)[14](https://www.holmen.com/en/energy/hydropower/holmens-hydro-power/Our-hydropower-plants/)
[6](https://app.finbar.com/go?id=T8475885)[13](https://app.finbar.com/go?id=T2746196)[7](https://www.holmen.com/en/woodproducts/wood-and-construction-products/wood-products-for-industry2/)[8](https://www.holmen.com/en/woodproducts/wood-and-construction-products/wood-products-for-hardware-store2/)[9](https://www.holmen.com/en/board-and-paper/products/paperboard/)[10](https://www.holmen.com/en/board-and-paper/products/paperboard/invercote/invercote-g/)[11](https://www.holmen.com/en/board-and-paper/products/book-paper/book/)[12](https://www.holmen.com/en/board-and-paper/products/graphical-paper/view/)[14](https://www.holmen.com/en/energy/hydropower/holmens-hydro-power/Our-hydropower-plants/)

## Geographic presence

Holmen’s operations are concentrated in Sweden, with one production facility in the UK; its identified mills include Swedish sites at Hallsta, Braviken, Iggesund and Workington in the UK. Its forestry holdings are in Sweden, spanning Västerbotten, Västernorrland, Jämtland, Gävleborg, and Uppsala and areas farther south. [4](https://www.holmen.com/en/about/holmen-in-short/productionunits/)[15](https://www.holmen.com/en/board-and-paper/about-us/our-mills/)[16](https://app.finbar.com/go?id=T11052924)

In 2025, Holmen reported sales of SEK 22,056 million. Sweden accounted for SEK 5,448 million (24.7%); Germany SEK 2,554 million (11.6%); the UK SEK 2,254 million (10.2%); Italy SEK 1,094 million (5.0%); France SEK 1,091 million (4.9%); rest of Europe SEK 5,976 million (27.1%); Asia SEK 1,715 million (7.8%); and rest of world SEK 1,924 million (8.7%). The percentages are calculated from reported market sales and total sales; the grouped European markets together represented about 83.5% of sales. [17](https://app.finbar.com/go?id=T13529235)

Holmen’s commercial presence extends beyond its production locations: its Board & Paper business describes European sales coordination from Amsterdam and sales representatives in Singapore, Hong Kong, Tokyo and Seoul. Wood Products lists offices in Great Shelford, England, and Loosdrecht, Netherlands, as well as customer contacts in Germany and France. These are sales and contact locations and should not all be interpreted as production sites. [18](https://www.holmen.com/en/board-and-paper/about-us/global-presence/)[19](https://www.holmen.com/en/woodproducts/about-holmen-woodproducts/contact-us2/)[20](https://www.holmen.com/en/board-and-paper/contact-and-support/contacts/)

Holmen reported 3,851 employees at Group level for 2025; the reported employee figures do not provide a geographic allocation. [21](https://app.finbar.com/go?id=T7872729)
[16](https://app.finbar.com/go?id=T11052924)[17](https://app.finbar.com/go?id=T13529235)[21](https://app.finbar.com/go?id=T7872729)[4](https://www.holmen.com/en/about/holmen-in-short/productionunits/)[15](https://www.holmen.com/en/board-and-paper/about-us/our-mills/)[18](https://www.holmen.com/en/board-and-paper/about-us/global-presence/)[19](https://www.holmen.com/en/woodproducts/about-holmen-woodproducts/contact-us2/)[20](https://www.holmen.com/en/board-and-paper/contact-and-support/contacts/)

## Business segments

Holmen reports four business areas: Forest, which sells logs, pulpwood and biofuel; Wood Products, which makes timber for construction and joinery, CLT and glulam, and wood for pallets and packaging; Board and Paper, which produces paperboard for consumer packaging and paper for books, magazines, advertising and transport packaging; and Renewable Energy, which generates renewable energy from hydro and wind. [22](https://app.finbar.com/go?id=P8037495)

For 2025, approximate sales contributions were Forest 14%, Wood Products 18%, Board and Paper 63%, and Renewable Energy 2%. These are estimates based on product-line sales relative to Group net sales, rather than directly reported business-area revenue shares; pulp and other sales are not assigned in this estimate, so the percentages do not sum to 100%. [23](https://app.finbar.com/go?id=P54241039)
[22](https://app.finbar.com/go?id=P8037495)[23](https://app.finbar.com/go?id=P54241039)

## Company history

Holmen traces its origins to a weapons factory established on Kvarnholmen in Norrköping in 1609; a handmade-paper mill began there in 1633. Iggesund began as an ironworks in 1685 and added sawmilling in 1870. In 1873, Mo Bruksägare was reorganised as Mo och Domsjö AB (MoDo), a major corporate predecessor of Holmen. The Norrköping site introduced mechanical papermaking in the 1830s, and Hallstavik began newsprint production in 1915. MoDo was listed on the Stockholm Stock Exchange in 1936. [24](https://www.holmen.com/en/about/holmen-in-short/history/)[25](https://www.holmen.com/en/board-and-paper/about-us/our-history/)[26](https://app.finbar.com/go?id=P64685840)

After exiting textiles by 1970, the company expanded newsprint production at Braviken in 1977; its old central Norrköping paper mill closed in 1986. Iggesund acquired British paperboard maker Thames Board in 1987. In 1988, MoDo, Holmens Bruk and Iggesunds Bruk merged under the Modo name, and L E Lundbergföretagen became MoDo’s principal shareholder in 1993. MoDo sold its stake in Modo Paper in 2000 and adopted the name Holmen AB; that year it also acquired Spanish mill Papelera Peninsular. Later milestones included the start of production at Braviken Sawmill in 2011, the 2020 acquisition of Martinsons, and the consolidation of process-industry operations into the Board and Paper business area in 2024. [24](https://www.holmen.com/en/about/holmen-in-short/history/)[27](https://www.holmen.com/en/newsroom/press/reports/1999/holmenmodo-interim-report-january-september-1999/)[28](https://www.holmen.com/en/newsroom/press/press-releases/2000/holmen-sells-its-holding-in-modo-paper/)[29](https://www.holmen.com/en/newsroom/press/press-releases/2000/interim-report-january-june-2000/)[30](https://www.holmen.com/en/newsroom/press/press-releases/2011/production-starting-at-braviken-sawmill/)[31](https://www.holmen.com/en/newsroom/press/press-releases/2020/holmen-acquires-martinsons/)
[26](https://app.finbar.com/go?id=P64685840)[24](https://www.holmen.com/en/about/holmen-in-short/history/)[25](https://www.holmen.com/en/board-and-paper/about-us/our-history/)[27](https://www.holmen.com/en/newsroom/press/reports/1999/holmenmodo-interim-report-january-september-1999/)[28](https://www.holmen.com/en/newsroom/press/press-releases/2000/holmen-sells-its-holding-in-modo-paper/)[29](https://www.holmen.com/en/newsroom/press/press-releases/2000/interim-report-january-june-2000/)[30](https://www.holmen.com/en/newsroom/press/press-releases/2011/production-starting-at-braviken-sawmill/)[31](https://www.holmen.com/en/newsroom/press/press-releases/2020/holmen-acquires-martinsons/)

## Sources

1. [HOLMEN B — Full financial report (2025 Y), p3](https://app.finbar.com/go?id=P65849189)
2. [www.holmen.com](https://www.holmen.com/en/about/holmen-in-short/business-idea-strategy-and-targets/)
3. [www.holmen.com](https://www.holmen.com/en/about/)
4. [www.holmen.com](https://www.holmen.com/en/about/holmen-in-short/productionunits/)
5. [HOLMEN B — Full financial report (2025 Y), p3](https://app.finbar.com/go?id=P28490150)
6. [HOLMEN B — Full financial report (2025 Y), p139](https://app.finbar.com/go?id=T8475885)
7. [www.holmen.com](https://www.holmen.com/en/woodproducts/wood-and-construction-products/wood-products-for-industry2/)
8. [www.holmen.com](https://www.holmen.com/en/woodproducts/wood-and-construction-products/wood-products-for-hardware-store2/)
9. [www.holmen.com](https://www.holmen.com/en/board-and-paper/products/paperboard/)
10. [www.holmen.com](https://www.holmen.com/en/board-and-paper/products/paperboard/invercote/invercote-g/)
11. [www.holmen.com](https://www.holmen.com/en/board-and-paper/products/book-paper/book/)
12. [www.holmen.com](https://www.holmen.com/en/board-and-paper/products/graphical-paper/view/)
13. [HOLMEN B — Full financial report (2025 Y), p15](https://app.finbar.com/go?id=T2746196)
14. [www.holmen.com](https://www.holmen.com/en/energy/hydropower/holmens-hydro-power/Our-hydropower-plants/)
15. [www.holmen.com](https://www.holmen.com/en/board-and-paper/about-us/our-mills/)
16. [HOLMEN B — Partial financial report (2025 Y), p13](https://app.finbar.com/go?id=T11052924)
17. [HOLMEN B — Full financial report (2025 Y), p71](https://app.finbar.com/go?id=T13529235)
18. [www.holmen.com](https://www.holmen.com/en/board-and-paper/about-us/global-presence/)
19. [www.holmen.com](https://www.holmen.com/en/woodproducts/about-holmen-woodproducts/contact-us2/)
20. [www.holmen.com](https://www.holmen.com/en/board-and-paper/contact-and-support/contacts/)
21. [HOLMEN B — Full financial report (2025 Y), p128](https://app.finbar.com/go?id=T7872729)
22. [HOLMEN B — Full financial report (2025 Y), p139](https://app.finbar.com/go?id=P8037495)
23. [HOLMEN B — Full financial report (2025 Y), p71](https://app.finbar.com/go?id=P54241039)
24. [www.holmen.com](https://www.holmen.com/en/about/holmen-in-short/history/)
25. [www.holmen.com](https://www.holmen.com/en/board-and-paper/about-us/our-history/)
26. [HOLMEN B — Full financial report (2010 Y), p42](https://app.finbar.com/go?id=P64685840)
27. [www.holmen.com](https://www.holmen.com/en/newsroom/press/reports/1999/holmenmodo-interim-report-january-september-1999/)
28. [www.holmen.com](https://www.holmen.com/en/newsroom/press/press-releases/2000/holmen-sells-its-holding-in-modo-paper/)
29. [www.holmen.com](https://www.holmen.com/en/newsroom/press/press-releases/2000/interim-report-january-june-2000/)
30. [www.holmen.com](https://www.holmen.com/en/newsroom/press/press-releases/2011/production-starting-at-braviken-sawmill/)
31. [www.holmen.com](https://www.holmen.com/en/newsroom/press/press-releases/2020/holmen-acquires-martinsons/)

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