Suzano Reports Q2-2023 Results

Net sales were SEK 5 897 million (5 636), an increase of 5% mainly as a result of increased selling prices. EBITDA was SEK 1 065 million (923), an increase of 15% mainly as a result of increased selling prices, which were partly offset by higher wood prices. Adjusted EBITDA was SEK 1 102 million (938), an increase of 17%. The adjusted operating margin was 12% (10%). Adjusted operating profit was SEK 729 million (572), an increase of 27%. Earnings per share amounted to SEK 2.40 (1.94). Click Read More below for additional information.

Paper Excellence announced the permanent closure of the Mackenzie Pulp Mill located in Mackenzie, BC. Production at the mill was originally curtailed in June 2020 due to market impacts caused by COVID-19 and lack of local economic fibre. Since acquiring the Mackenzie mill in 2010, Paper Excellence has invested more than $360 million in the facility. However, despite these investments and the committed team of employees in Mackenzie, the facility’s small production capacity and the ongoing lack of local economic fibre meant the mill could not be globally competitive. Paper Excellence is restarting one of the paper machines in its Powell River mill in early May, investing with and establishing jointly beneficial partnerships with First Nations, and making a $13 million capital investment in the Port Alberni facility to diversify into higher-value markets. Furthermore, Paper Excellence is working towards making a significant capital investment in its Crofton facility and restarting its facility in Prince Albert, Saskatchewan.

Neenah, Inc. announced that on November 19, 2020, its Board of Directors renewed the Company’s share repurchase plan for up to $25 million of its outstanding common stock effective January 2021. The current share repurchase plan remains in effect through December 31, 2020. Purchases by the Company under the program would be made from time to time in the open market or in privately negotiated transactions in accordance with the requirements of applicable law. The timing and amount of any purchases will depend on share price, market conditions and other factors. The program does not require the Company to purchase any specific number of shares and may be suspended or discontinued at any time.