by Sean Ungerer | Nov 24, 2023 | Forestry and Paper
Paper pulp prices continue to gather momentum in China and Europe: Hardwood prices in China edged up 1% further, while softwood was stable. However, the recent weakening of BSK futures could be an early sign of demand weakening in China. For instance, tissue operating...
by Sean Ungerer | Nov 17, 2023 | Forestry and Paper
Paper pulp prices continue to gather momentum in China and Europe: Hardwood prices in China edged up 2% further, while softwood was stable. Meanwhile, hardwood jumped 4% in Europe, while softwood too increased by 2%. NOREXECO pulp futures keep edging up and for 24E...
by Sean Ungerer | Nov 9, 2023 | Forestry and Paper
Financial highlights from the quarter: Group sales improved by 4% q-o-q (-28% y-o-y), missing our estimate by 4% (driven by Europe and North America). Meanwhile, group EBITDA improved by 58% q-o-q (-57% y-o-y), 25% ahead of our estimate. This was largely due to a...
by Sean Ungerer | Nov 8, 2023 | Forestry and Paper
Sappi to report Q4 23E results on Thursday, 9 November: EBITDA has fallen for three consecutive quarters; however, we expect Q4 23E EBITDA to increase by 27% q-o-q (-66% y-o-y) to $135mn (+41% y/y; -14% q/q) with EPS of $0.08/share. This is driven largely by improved...
by Sean Ungerer | Nov 1, 2023 | Forestry and Paper
Key highlights from the quarter: Sales softened by 5% q-o-q (-19% y-o-y), driven by lower corrugated box pricing (around -6% q-o-q) and lower corrugated box volumes (-2% y-o-y). This largely explained the fall in EBITDA, down 4% q-o-q (-14% y-o-y), while the EBITDA...
by Sean Ungerer | Oct 31, 2023 | Forestry and Paper
Key financial highlights from the quarter: Revenue marginally increased by +1% q-o-q (-29% y-o-y). EBITDA also ticked up slightly by +1% q-o-q (-40% y-o-y) with the Group EBITDA margin stable at 25.7% (Q3 23A: 30.5%). Gearing remains well controlled with net...
