This thesis investigates how companies within the Swedish forest industry protect cash flows through financial riskmanagement. The study is grounded in the forest industries significance to the Swedish economy and its exposure to macroeconomic fluctuations affecting interests rates, raw materials, and currencies. Using a qualitative research approach and semi-structured interviews with representatives from eight leading forest industry companies, the study analyses which risks are perceived as most critical and what tools and methods are employed to manage them.  The findings show that companies extensively use financial derivates such as forwards, swaps and in some cases options to hedge their future cash flows. Currency risk is the most frequently managed exposure, while electricity price volatility and interest rate risk are also highlighted as important. Several firms also employ scenario planning and stress testing to anticipate future emphasize the need to improve internal communication, increase automation, and better integrated risk management into day-to-day operations. This study contributes to a deeper understanding of how cash flow risks are managed within a capital intensive and export dependent industry.