Norske Skog Q1 2024 results

Norske Skog’s EBITDA in the first quarter of 2024 was NOK 76 million, a decrease from NOK 760 million in the fourth quarter of 2023. The fourth quarter EBITDA was significantly influenced by business interruption insurance of NOK 625 million at Norske Skog Saugbrugs. The first quarter EBITDA was negatively impacted by deconsolidation of Norske Skog Tasman of NOK 46 million and lower European CO2-allowance prices of NOK 32 million. Demand for publication paper is stabilising, but further capacity closures are still required. Containerboard demand is increasing but still experiences excess capacity.

“We are very satisfied with the demand for our publication paper products in the first quarter. We have invested close to EUR 500 million into containerboard and energy projects over the past three years, and we still maintain a very strong balance sheet and cash position. We are highly satisfied with the production ramp-up at Bruck. The feedback from our customers on product quality is positive, and this is promising for our plan to deliver a total of 760 000 tonnes of packaging paper from Bruck and Golbey into the market in the coming years. Along with the Saugbrugs management team, we have continued to identify future opportunities for Saugbrugs industrial site, and we hope to announce further details during the second quarter,” says Geir Drangsland, CEO of Norske Skog.

Cash flow from operations was NOK -69 million in the quarter compared to NOK 973 million in the previous quarter. The first quarter cash flow was influenced by low earnings, seasonal increase in working capital, and restructuring expenses. Operating earnings in the first quarter of 2024 were NOK -177 million compared to operating earnings in the fourth quarter of 2023 of NOK 629 million. The operating earnings in the quarter were negatively affected by non-cash changes in fair value of energy contracts in Norway amounting to NOK 115 million.
details at: https://www.norskeskog.com/investors/press-releases/english-press-releases/stable-markets?PID=4684&M=NewsV2&Action=1

Related Posts

Sappi invests in sugar separations and clean-up technology to strengthen its renewable bio-chemicals offering

Sappi Limited is pleased to announce that it will bolster its biorefining expertise through the acquisition of the Xylex® and Versalac® technologies owned by Plaxica Limited. The transaction will result in Sappi acquiring the sugar clean up technologies which includes the patents, knowhow, equipment and key technical staff of Plaxica. The size of the transaction does not require regulatory disclosure. Since 2013, Sappi has advanced its efforts to expand its biorefining expertise. Part of the strategy is to extract and clean-up C5 hemicellulose sugars from our Pre-Hydrolysis Kraft (PHK) liquors for further value add to higher value products. Commenting on the transaction, Louis Kruyshaar, Executive Vice President of Sappi Biotech said “Plaxica’s Xylex® solution is rated as one of the most advanced to offer optimum efficiency and economics for separation and clean-up of C5 sugars from pulp mill hydrolysates.” Click Read More below for additional detail.

Suzano Reports 3Q17 Results

The increase in the Company's cost and expense structure has lagged inflation due to productivity gains and the focus on cost discipline. Our commitment to financial discipline is reinforced by the reductions in both gross and net debt, as well as by significant lengthening of our amortization profile (from 62 to 80 months). The leverage ratio remains at a healthy level (2.3x Net Debt/Adjusted EBITDA) and the total average debt cost remains competitive (4.4% p.a. in USD). The Adjusted EBITDA² of R$1.041/ton and strong Cash Generation¹ of R$795/ton were other metrics in which we outperformed the overall industry. The ROIC of 13.0% reflects the positive impact from pulp prices, as well as from cost and expense discipline and the margin recovery in the paper segment. Click Read More below for additional information.

Sappi Announces Price Increase

Sappi North America announces a US$2.00/cwt transactional price increase on new and unconfirmed orders that book with confirmed delivery dates on or after Monday, November 20, 2017 on the following packaging products: LusterCote (all basis weights). Please note that all new orders must be confirmed a minimum of 10 days prior to the commencement of the production run.
Back To Top
×Close search
Search