by Sean Ungerer | May 18, 2020 | Forestry and Paper
Limited impact in Q1 20A from COVID: Their RM supply chain remains solid with no anticipated supply issues. Verso noted pressure from lack of demand and “competitors are filling up machines and going after price aggressively”.Continued pressure on Graphic and...
by Sean Ungerer | May 14, 2020 | Forestry and Paper
Their focus remains on maximising value and not necessarily integration: 1 in 3 boxes in the US is from IP and they are the # 1 non-European supplier of kraftliner into Italy, Spain and Southern France. In the last five years, they have invested to improve...
by Sean Ungerer | May 13, 2020 | Forestry and Paper
Industrial Packaging (NA Corrugated Packaging & Containerboard export): Q1 US box shipments increased by 3% y/y (March: +4.7%). They saw strong export containerboard demand in Q1 and expect this to continue in Q2 across all regions; however, expect demand in...
by Sean Ungerer | Apr 30, 2020 | Forestry and Paper
Europe’s largest folding boxboard (FBB) and white kraftliner producer saw Q1 20A EBITDA down 40% y/y: Lower pulp prices were the key driver of weaker results (long SW pulp: 600ktpa). A 10% decline in pulp price impacts EBIT by -EUR30m. The Finnish strike reduced EBIT...
by Sean Ungerer | Apr 28, 2020 | Forestry and Paper
Europe’s largest UWF producer (up to 1.6mpta) takes downtime: Navigator idles 15% (700t/day and max of 2,000) of its UWF capacity from 22 April for 30 days due to the decline in demand. Prior to this, they had their second highest order book ever until mid-March. They...
by Sean Ungerer | Apr 24, 2020 | Forestry and Paper
Europe’s largest independent kraftliner producer saw Q1 20A EBITDA down 34% y/y driven by price/mix: COVID-19 did not materially impact results, but SCA expects continued uncertainty. Delivery volumes to Scandinavia remained stable (slight weakness towards end of Q1)....
