Research
The content listed is not for investment, financial, accounting or tax advice and is provided for informational purposes only.
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📦 Key message: The P&W paper markets in Europe and North America remained under pressure in July, with demand contracting by -6% YoY. Sappi continues to face pronounced weakness in coated grades on both continents, with European CWF demand down -7% YoY and North...
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Afrimat – Cement Site Visit
Key message: The cement assets are now profitable and Afrimat should have a cost advantage with its ultra-extended cement.
Motus Holdings – FY25 Results
Key message: Declining finance costs and a new car sales recovery bode well for an earnings recovery into FY26.
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Forestry & Paper: Industry Insights
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...