Research
The content listed is not for investment, financial, accounting or tax advice and is provided for informational purposes only.
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Smurfit Westrock: Q1 26A InsightsEuropean Containerboard & Corrugated & North American Consumer board EBITDA missed guidance/consensus (-14% YoY I -8% QoQ) on weather and downtime, while tighter packaging/SBS markets support H2 pricing momentum. Download...
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Stora Enso: Q1 26A InsightsEuropean containerboard & Corrugated (Mondi); European Pulp & Wood (Mondi & Sappi) EBITDA softened modestly (-3% YoY I +21% QoQ), as lower wood costs and cost control were offset by adverse FX and the ongoing Oulu ramp-up....
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UPM Q1 Insights Paper Pulp, European Graphic Paper & Specialty EBITDA proved relatively resilient (-6% YoY; +3% QoQ), supported by cost control and lower wood costs, despite ongoing graphic paper weakness. Download Presentation Here
PPC – Possible Heidelberg Bid
Key message: We value PPC at R10 as a deal price should Heidelberg make an eventual offer.
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Afrimat – FY26 Trading Statement
Key message: A loss in 2H was driven mostly by the temporary ferrochrome smelter closures.