by Sean Ungerer | Jun 17, 2020 | Forestry and Paper
H&M provides sales update (read-through for the likes of Lenzing, Birla and Sappi): Sales development was largely driven by COVID-19. Q2 sales (1 March – 31 May) declined by 50% y/y, while online sales increased by 36%. Total sales for 1-13 June declined by 30%...
by Sean Ungerer | Jun 8, 2020 | Forestry and Paper
Turnover -3.8% y/y & EBITDA -15.7% y/y (+23% q/q): Higher volumes in all segments (Paper 4%; Pulp 34%; Tissue 10%). Lower production costs not enough to offset lower pulp and paper prices. However, EBITDA margin +442bps q/q to 21.8%. Strong UWF order book in Q1...
by Sean Ungerer | May 19, 2020 | Forestry and Paper
Under current circumstances, 80% of German media and printing companies unlikely to survive 2020: This is based on the Bundesverband Druck and Medien survey. 24% of companies said they would be able to survive till the end of July. 33% expect sales to drop by 50% y/y...
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...
