Sappi Europe to increase prices on LWC and MWC grades by 6-8% from January 1st 2018

After the release of the stock exchange notice of today at 17:21, the company has been informed that the board of Norske Skog AS has decided to support an extension of the consent solicitation deadline for the board's recapitalization proposal. However, due to practical matters, it was not possible to make the Norske Skog AS resolution within the deadline at 17:00 CET, and consequently, the offer period has expired. The discussions with the key stakeholder groups will continue in order to achieve a consensual recapitalization solution for the Norske Skog group during the next days even though the offer period has expired. If these discussions are successful, an updated recapitalization proposal will be launched.

Norske Skog’s board of directors has made the final investment decision to convert one machine at the Bruck (Austria) industrial site from newsprint to recycled containerboard production. This is the first major step of the two planned European conversion projects in the group’s strategy of establishing Norske Skog as a leading independent European producer of recycled containerboard. The conversion at Bruck will introduce 210 000 tonnes of competitive containerboard capacity to meet the growing demand for renewable packaging. The project has received financing commitment from regional banks. Containerboard production will be based 100% on recycled fibre and will use steam from a new waste-to-energy plant, making Bruck a cost leading and green energy producer. “This investment decision represents the coming of a new era for Norske Skog and is a major step to become a leading independent European producer of high-quality, renewable and environmentally produced containerboard. The conversion project illustrates the inherent potential of our industrial sites and will strengthen Norske Skog’s asset base and cash flow generation for decades ahead,” says Norske Skog’s CEO Sven Ombudstvedt.

January–September 2022 (1–9/2021) *Sales were EUR 5,239 million (4,457). *Operating result was EUR 986 million (652). Comparable operating result was EUR 966 million (694). *Result before taxes was EUR 961 million (616). Comparable result before taxes was EUR 934 million (658). *Comparable return on capital employed was 20.0% (16.4). *Net cash flow from operations was EUR 828 million (596). July–September 2022 (7–9/2021) *Sales were EUR 1,823 million (1,515). *Operating result was EUR 397 million (273). Comparable operating result was EUR 391 million (278). *Result before taxes was EUR 396 million (263). Comparable result before taxes was EUR 385 million (267). *Comparable return on capital employed was 23.5% (18.8). *Net cash flow from operations was EUR 372 million (222).