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)....
by Sean Ungerer | Apr 24, 2020 | Forestry and Paper
Q1 20A EBITDA down 18%: COVID-19 did not materially impact results, unlike the EUR 30m impact from the Finnish strike. It was a quarter of two tales, record EBIT for Specialty Papers and Raflatac, while Paper was under pressure. A trend we expect to continue for the...
by Sean Ungerer | Apr 22, 2020 | Forestry and Paper
Q1 20A EBIT down 46% to EUR 180m: This was at the top end of guidance. As guided, Q1 was negatively impacted by an exceptional mild winter in the Nordics and labour union strikes in Finland (impacting Paper and Containerboard). Planned/unplanned production downtime...
by Sean Ungerer | Apr 20, 2020 | Forestry and Paper
PfR availability becoming more problematic: OCC prices increased by 19% w/w (+16% previous week). Concerns around availability of PfR grades, especially generated from the office paper and printing segments. Cartonboard and containerboard prices start to rise: RDM...
by Sean Ungerer | Apr 17, 2020 | Forestry and Paper
SAP’s European operations are roughly 2x Lecta’s: Lecta’s Q4 19A EBITDA margin expanded by 129 bps y/y to 8.5%. This compares to SAP’s 10.0% over the same period. FY 19A volumes declined by 12% y/y: This compares to the 11% decline for industry European deliveries....
