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: European and North American printing & writing markets remained depressed in August, with apparent demand falling -10% and -6% YoY respectively. Coated grades continue to bear the brunt of contraction — CFS (Sappi US) shipments plunged -14% YoY and...
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Key message: Pulp markets are showing early signs of recovery, while graphic paper prices continued to edged lower and packaging markets remained broadly stable. View Presentation
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Key message: Q3 2025 confirmed a two-speed market: pulp prices slumped sharply, graphic paper remained structurally weak, while packaging showed mixed movements—kraftliner strengthened amid broad softness in recycled grades. View Presentation
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Key message: Prolonged market weakness and muted demand momentum drive another earnings setback. Persistent cyclical headwinds, coupled with oversupply, reinforce Mondi’s pivot toward free cash flow generation. View Presentation
Afrimat – Trading Update
Key message: External factors continue to impact Afrimat – but the operational performance is improving.
Sirius Real Estate: 1H FY26 trading and valuation update
Key message: Sirius released an operating update for the 1H FY26 trading period. The group is performing in line with expectations, with steady core growth (lfl rent roll +5.2% y/y) enhanced by the impact of recent acquisitions, leading to +15.2% y/y growth in group...
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Key message: Pulp, paper and packaging markets remain broadly stable WoW, with muted movements across Europe. View Presentation