Sonoco Implementing Price Increase for Uncoated Recycled Paperboard

Diversey has been honored with two awards at the CSR Excellence Awards 2023: “Best Hygiene & Infection Prevention Cleaning Solutions Company — South East Asia” and “Best Personal Hygiene Circular Economy Initiative — South East Asia: Soap For Hope.” The CSR Excellence Awards 2023, launched by the Business Concept, encompass all facets of corporate social responsibility, celebrating businesses advocating for ethical, environmental, philanthropic, or financial initiatives. Diversey’s efforts on sustainability and its commitments to local communities have made it a leading company in these initiatives. Diversey’s Soap For HopeTM initiative exemplifies its dedication to community impact and sustainability. This innovative program empowers disadvantaged communities by providing access to sanitation and creating economic opportunities. By upcycling discarded soaps from hospitality partners, Soap For Hope not only promotes hygiene but also generates income for individuals in need.

Q4 2023 Highlights *Sales of $1,138 million (compared with $1,198 million in Q3 2023 and $1,135 million in Q4 2022); *Operating loss of $(24) million (compared with operating income of $80 million in Q3 2023 and operating loss of $(20) million in Q4 2022); 2023 Annual Highlights *Sales of $4,638 million (compared with $4,466 million in 2022); *Operating income of $40 million (compared with $33 million in 2022); *Net debt1 of $1,882 million as of December 31, 2023 (compared with $1,966 million as of December 31, 2022). Net debt to EBITDA (A) ratio1 of 3.4x, down from 5.2x as of December 31, 2022; *Total capital expenditures, net of disposals, of $46 million in Q4 2023 and $343 million in 2023. The Corporation's 2024 forecasted net capital expenditures of approximately $175 million is unchanged.

Metsä Board has on 1 December 2020 signed an agreement to sell a 30 percent stake in its Husum pulp mill in Sweden. The buyer is the Swedish forest owners’ cooperative (ekonomisk förening) Norra Skog, with whom Metsä Forest Sverige, responsible for Metsä Board’s wood procurement in Sweden, has simultaneously entered into a long-term wood supply agreement. The amendment to the environmental permit for the Husum mill has been approved, and Metsä Board has made the final investment decision on the first phase of the pulp mill renewal. The first phase of the investment includes a new recovery boiler and turbine and its total value is approximately EUR 320 million. Expected start-up for the new recovery boiler and turbine will be in H1 2022. The valuation of the Husum pulp mill (enterprise value) to be applied in the transaction at the time of closing is approximately EUR 875 million, including the completion of the ongoing recovery boiler and turbine investment. The valuation corresponds to a value of approximately EUR 1.2 billion after the completion of the second phase of the pulp mill renewal, i.e. the new fibre line. The transaction will decrease Metsä Board’s net debt by approximately EUR 260 million at the time of closing, and additionally reduce Metsä Board’s financial contribution in the second phase of the pulp mill renewal by approximately EUR 100 million. The closing of the transaction is expected to be in January 2021.