AF&PA Releases June 2024 Printing-Writing Monthly Report

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The Group's comparable net sales growth was 5% with all segments making good progress. Comparable growth in emerging markets was 8%. In absolute terms growth was strongest in Eastern Europe, India, and Middle East and Africa. The Group's reported net sales declined and were EUR 725 million (EUR 739 million). The Group's reported earnings declined but in comparable currencies the Group's earnings improved slightly compared to the previous year. Foodservice Europe-Asia-Oceania segment's earnings increased significantly as a result of sales growth and operational efficiency. Fiber Packaging segment's earnings grew as well, while earnings in Flexible Packaging and North America segments declined. Click Read More below for additional information.

Overview • Q2 2023 operating loss of $67 million including a $57 million reversal of a previously recognized inventory write-down; • Strong earnings continued at the Company’s European and US South operations with persistent challenges in British Columbia • Sustained pressure on global lumber market fundamentals and pricing, particularly in North America • Increased North American lumber production & shipments despite ongoing curtailments in British Columbia and permanent closure of Chetwynd facilities and temporary closure of Houston sawmill • Significant deterioration in global pulp market fundamentals; closure of the pulp line at Prince George Pulp and Paper Mill; subsequent to quarter-end, short curtailment of Northwood NBSK pulp mill amidst British Columbia port strike