Research
The content listed is not for investment, financial, accounting or tax advice and is provided for informational purposes only.
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Forestry & Paper: Industry Insights
Key message: Big moves for pulp in Europe, Graphic Paper in the green, while testliner shows first signs of weakness.
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Forestry & Paper: Textile Fibre Insights
Key message: Spot DWP now USD 1,210/t. VSF inventory days stable at 12.0, while the average op. rate drops slightly to 78%. VSF theoretical profit further in the red at -USD 149/t (VSF/DWP spread +10% YTD).
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PPC – FY22 Results
Key message: Cost inflation will be difficult to recover through pricing, although key cost variables are likely to be volatile this year.
Sirius Real Estate – FY22 results and valuation update
Key message: Sirius remains in excellent operational shape and its FY22 results were ahead of our expectations. Now down ~40% from its Jan-22 highs and trading in line with NAV, we think it is oversold at current levels.