What Holmen does

Holmen AB is a Swedish integrated forest products and renewable energy company headquartered in Stockholm and listed on Nasdaq Stockholm Large Cap (ticker SE0000171100). Founded in 1875, the company operates across four business areas: Forest, Wood Products, Board and Paper, and Renewable Energy. With approximately 3,500 employees and 2025 turnover of approximately SEK 22 billion ($1B-$5B USD band), Holmen converts certified forest holdings into fresh-fibre-based paperboard, paper, sawn timber, and renewable electricity sold to global packaging, publishing, construction, and energy markets. Production spans five chain-of-custody certified sawmills in Sweden and an additional paperboard mill in Workington, UK.

The product portfolio centers on proprietary fresh-fibre technology platforms: Invercote solid bleached board for premium packaging, Incada folding box board for stiffness-optimized packaging, and Inverform formable board for thermoformed food packaging. The paperboard lines are offered with six barrier coatings (Alubarrier, Metalprint, Metalprint Digital, PET, PE, and the renewable Bio E at 75% renewable content). Graphical papers span Holmen Aspect, EPIC, TRND, VIEW, UNIQ, XLNT, PLUS, and NEWS for magazine and commercial printing, while Holmen BOOK and Holmen NOTE/GIFT serve publishing and stationery; lightweight containerboard (Holmen Elevate, Holmen Elevate Flute) targets sustainable e-commerce and food packaging. Wood products comprise cross-laminated timber (CLT), glulam, and sawn timber, with construction systems delivered through the wholly owned subsidiary Martinsons Byggsystem (acquired 2020). Renewable energy output comprises 21 wholly or partly owned hydro power stations producing 1,100 GWh annually and wind farms including Blåbergsliden (1.8 TWh, 26 turbines, operational 2022) and Varsvik.

Holmen runs a sales-led, direct-to-customer go-to-market with dedicated sales representatives, multilingual customer service teams, and a sample-ordering platform serving enterprise packaging and publishing buyers (named customers include Penguin Random House, Pan Macmillan, and Bonnier Books UK). Construction customers are builders' merchants and importers served through the Swedish sawmill network. Pricing is quote-based and not publicly disclosed. Revenue is derived from one-time product sales across paper, paperboard, wood, and forest operations, plus usage-based electricity sales benefiting from elevated European power prices. The €100 million EIB loan secured in November 2025 to fund northern Sweden wind capacity expansion, combined with the Holmen BOOK Bright product launch in February 2026 and the completed SEK-2.4 billion-equivalent share buyback program, frames capital deployment priorities toward renewable energy scale-up, sustainable packaging innovation, and shareholder returns.

Name

Holmen

Legal name

Holmen AB

Website

https://holmen.com

Company type

Public

Founded year

1875

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Holmen is a Swedish integrated forest products and renewable energy company producing fresh-fibre-based paperboard, papers, sawn timber, CLT/glulam, and renewable hydro and wind power, serving packaging, publishing, construction, and energy markets globally.

Ownership category

akta.pro rank

Product category

Forest Products, Paperboard and Wood Manufacturing

NAICS

Sawmills (321113), Sawmills and Wood Preservation (32111), Engineered Wood Member Manufacturing (321215), Softwood Veneer and Plywood Manufacturing (321212), Wood Product Manufacturing (321)

SIC

Sawmills & Planting Mills, General (2421), Millwood, Veneer, Plywood, & Structural Wood Members (2430), Pulp Mills (2611), Paper Mills (2621), Paperboard Mills (2631)

akta.pro primary industry

Softwood Lumber Sawmills (IMAMABAA)

akta.pro secondary industries

Engineered Wood Products Distribution (LVL, I-joists, Glulam, CLT) (IMAMAIAD), Wood Remanufacturing (Mouldings, Millwork Blanks, Cut Stock) (IMAMABAI), Planing Mills & Lumber Surfacing (IMAMABAE)

Keywords

• Forest products
• Paperboard manufacturing
• Wood products
• Renewable energy
• Pulp and paper

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices8 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Paper and Paperboard Products: Production and sale of premium paperboard (Invercote, Incada, Inverform) and innovative paper products for packaging, publishing, and graphical applications. Revenue from product sales to global brands.
2. Wood Products: Production and sale of sawn wood products, CLT, glulam, and construction timber from five sawmills. Revenue from sales to joinery, construction industry, and builders' merchants.
3. Renewable Energy: Generation and sale of electricity from wind power (Varsvik and Blåbergsliden wind farms) and hydro power (21 stations). Revenue from electricity sales benefiting from high electricity prices.
4. Forest Management: Sustainable forestry operations providing raw materials for industrial sites and contributing to bioeconomy and circular economy practices.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Holmen refines timber from its own certified Swedish forests into wood products for construction, renewable packaging, books, and magazines through four integrated business areas: Forest, Wood Products, Board and Paper, and Renewable Energy. The company produces fresh-fibre paperboard (Invercote, Incada, Inverform), containerboard (Holmen Elevate), graphical and book papers, engineered wood products (CLT, glulam, sawn timber from five sawmills), and renewable electricity from 21 hydro power stations and wind farms.

Product overview

Holmen is a Swedish integrated forest products company with four business areas: Forest, Wood Products, Board and Paper, and Renewable Energy. The Board and Paper division offers a comprehensive portfolio of fresh fibre-based paper and paperboard products organized into three main categories: Premium Paperboards (Invercote, Incada, Inverform), Innovative Papers (graphical papers including Holmen Aspect, EPIC, TRND, VIEW, UNIQ, XLNT, PLUS, NEWS; book papers including Holmen BOOK; office papers including Holmen NOTE and GIFT), and Lightweight Containerboard (Holmen Elevate, Holmen Elevate Flute). The Paperboard products can be enhanced with barrier coatings (Alubarrier, Metalprint, Metalprint Digital, PET, PE, Bio E). Wood Products includes CLT, glulam, and sawn timber from five sawmills. Renewable Energy operations include hydro power (21 stations) and wind power.

Differentiator

Problem solved

Functional benefit

Products and services

• Invercote Premium solid bleached board (SBB) made entirely from fresh fibres, used worldwide for high-end packaging applications including cosmetics, pharmaceuticals, and food packaging.
• Incada Folding box board (FBB) product based entirely on fresh fibres, designed for quality packaging applications with high stiffness characteristics. Available in silk and exel variants.
• Inverform Formable solid bleached board (SBB) optimized for press-forming and thermoforming technology used to shape trays for ready-made food packaging, cutlery, and other packaging applications.
• Holmen Elevate Lightweight, strong kraftliner made from fresh wood fibres from sustainably managed forests. Offers renewable, recyclable and food-approved alternative to plastic trays, sleeves or laminated solutions in secondary or tertiary packaging.
• Holmen Elevate Flute Ultra-light, food-safe fresh-fibre fluting engineered for high performance in corrugated solutions. Enables switching from higher grammages to smarter, more efficient packaging.
• Holmen Aspect Premium magazine paper, whiter than conventional alternatives, offering superior opacity and appealing page thickness. Optimized for vibrant colours and sharp details on a smooth, uncoated surface.
• Holmen EPIC Uncoated wood-containing magazine paper based on fresh wood fibres with higher bulk compared to recovered fibre papers. Provides excellent whiteness, high opacity, and outstanding image reproduction.
• Holmen TRND Uncoated magazine paper made from 100% fresh fibres with high bulk enabling light yet thick magazines. Suitable for heatset, coldset, digital and waterless printing.
• Holmen VIEW Lightweight uncoated papers (LWU) with fresh fibre-based advantages including tactility, stiffness, great opacity and high bulk. Has a silky surface with high gloss.
• Holmen UNIQ Super-calendered papers made from fresh wood fibres with unmatched brightness, smoothness, and opacity in low grammages. Suitable for heatset and gravure printing.
• Holmen XLNT Sturdy uncoated papers made from fresh wood fibres offering stability and stiffness, allowing lower basis weight without compromising quality. High opacity even in lower grammages.
• Holmen PLUS Magazine paper with high thickness advantage enabling direct mail and magazines with few pages to feel substantial. Matt surface provides quality feel.
• Holmen NEWS Newspaper paper offering optimal mix of economics, grammage and printing results.
• Holmen BOOK Fresh fibre book papers developed exclusively for books and comics. Available in wide range of grammages, shades and bulk for high-quality hardbacks, paperbacks, educational books, manga and graphical storytelling.
• Holmen BOOK Bright New whiter wood-containing book paper made from fresh fibres sourced from sustainable forestry, offering high opacity and improved readability while reducing environmental impact through lower carbon emissions. Targets educational and general book publishing.
• Holmen NOTE Family of high-quality papers for notebooks with perfect balance of strength, bulk and smoothness. Available in various shades and surface textures.
• Holmen GIFT Climate-smart wrapping papers made from 100% fresh fibres. Available in five versions (Silk, Matt, Lite, Vintage, Natural) for premium retail packaging and gift wrapping.
• Holmen SURE Sustainably produced, recyclable protective papers made from 100% fresh fibres. Certified for direct food contact according to BfR and FDA. Used for trayliners, placemats, industrial interleaving and e-commerce void fill.
• Imperial Anchor Pulp Northern Bleached Softwood Kraft (NBSK) pulp product for various paper and packaging applications.
• Silver Anchor Pulp Bleached Hardwood Kraft Pulp (BHKP) product for paper and packaging production.
• Wood Products (CLT, Glulam, Sawn Timber) High-quality wood products from sustainably managed forests including cross-laminated timber (CLT), glulam, and sawn timber products. Produced in five chain-of-custody certified sawmills.
• Renewable Energy (Hydro and Wind) Renewable energy production from wind and water on Holmen's land holdings. Includes 21 hydro power stations (about 1,100 GWh normal annual production) and wind farms (Varsvik, Blabergsliden). Blabergsliden produces approximately 1.8 TWh annually from 26 turbines.

Quantifiable outcome

• Fossil fuel usage reduced by 90% since 2005
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Martinsons ByggsystemcoreStrategic or Co-development PartnerConstruction systems company acquired by Holmen in 2020, forming strong and stable value chain from seed to timber building. Offers planning and construction of complete timber frames in CLT and glulam for sports halls, schools, office blocks and apartment buildings.
• Plantma ForestryminorOthersSwedish forestry company that developed Plant Max automated planting machine capable of planting 3,000 seedlings per hour. Has sold machines to Holmen in Sweden.

Scale indicators14 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Stora Enso: Finland- and Sweden-headquartered integrated forest products company producing sawn timber, CLT, packaging materials, and paperboard; closest direct competitor to Holmen across sawmills, paperboard, and renewable biomass energy.
• UPM-Kymmene: Finnish forest products company with overlapping operations in graphical and specialty papers, label materials, and biomass-based renewable energy; comparable diversified forest-products platform targeting the same European sustainability customers.
• Billerud: Swedish-based producer of virgin-fibre paperboard and packaging paper with a similar fresh-fibre strategy, FSC/PEFC certifications, and direct overlap with Holmen Incada and Holmen Elevate folding box board / kraftliner grades.
• Metsä Board (M-real): European fresh-fibre paperboard manufacturer producing folding boxboard and kraftliners (Kemiart, Modo); the most comparable specialty paperboard competitor to Holmen's Incada and Invercote families.
• Mayr-Melnhof Karton: European folding boxboard and solid bleached board manufacturer; competes directly with Holmen's Invercote and Incada in the cosmetics, pharmaceuticals, and food packaging end-markets.
• Mondi: UK-listed integrated paper and packaging group with comparable containerboard, kraft paper, and uncoated/flexible packaging product portfolios overlapping with Holmen Elevate and packaging-paper ranges.
• Smurfit Kappa: Global containerboard and corrugated packaging producer; comparable to Holmen's containerboard strategy and a key competitor for sustainable packaging customers across Europe.
• SCA (Svenska Cellulosa Aktiebolaget): Sweden-based forest company with extensive forest holdings, sawmills, and pulp production; the most direct Nordic counterpart to Holmen on the forest-assets and sawmill side.
• Moelven: Norwegian sawmill and wood-products group producing sawn timber, glulam, and modular building components in the Nordic market; directly comparable to Holmen's CLT/glulam and sawn timber portfolio.
• Binderholz: Austrian family-owned sawmill and engineered wood manufacturer producing CLT, glulam, and sawn timber for the mass-timber construction market; competes with Holmen's Martinsons Byggsystem in European construction systems.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UC4E1yu7ANGiM8egbVALzjxA

Compliance17 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Holmen