by Rowan Goeller | Sep 16, 2025 | Uncategorized
Key message: Declining finance costs and a new car sales recovery bode well for an earnings recovery into FY26. Motus released FY25 results. HEPS increased 5% off a 1% decline in revenue and flat operating profit. A final dividend of 310c was paid (total dividend...
by Sean Ungerer | Sep 5, 2025 | Uncategorized
Key message: Global pulp markets were stable in Europe but showed signs of recovery in China, with BHKP rebounding +4%. Graphic paper softened slightly as LWC declined, while containerboard drifted lower with renewed OCC weakness. Dissolving pulp steadied, though...
by Sean Ungerer | Aug 1, 2025 | Uncategorized
Key message: Mixed demand signals with SBS shipments declining in the second quarter, while backlogs grew. Current downcycle is primarily driven by oversupply. Looking ahead, RISI expects industry capacity to be reduced by approximately 350Kt in 2026, which should...
by Sean Ungerer | Jul 30, 2025 | Uncategorized
Key message: We anticipate EBITDA of €584mn (€567mn excluding the forestry fair value gain). We expect basic underlying EPS of €0.49/share, down -3% YoY. Accordingly, we expect the interim DPS to be stable YoY at €0.23/share. Following the Schumacher acquisition (EV:...
by Sean Ungerer | Jul 24, 2025 | Uncategorized
Paper Pulp, European Graphic Paper & Specialty Insights Key message: UPM plans major graphic paper capacity cuts, yet further rationalisation remains necessary. Meanwhile, tariffs and a weaker dollar are disrupting European shipments into the US, amplifying market...
