UPM Interim Report Q3 2024:Comparable EBIT +32% from last year in a challenging market

Massimo Reynaudo, President and CEO, comments on the results: “Our Q3 results improved both year-on-year and quarter-on-quarter, with a significant contribution from the fully ramped-up UPM Paso de los Toros pulp mill. The earnings improvement, albeit good, was lower than earlier expected as the market demand of our products slowed down after the encouraging start of the year. We took measures in several of our businesses to safeguard profitability and we continue to take decisive actions to ensure the competitiveness of our businesses and support our growth ambitions.

Our Q3 sales were EUR 2,521 million and our comparable EBIT increased by 32% to EUR 291 million. Our net debt was EUR 2,804 million, 1.59 times EBITDA. Cash funds and unused committed credit facilities totalled at EUR 3.7 billion at the end of the quarter, following the successful issuance of our fourth Green Bond, for EUR 600 million, in August.”
details at: https://www.upm.com/about-us/for-media/releases/2024/10/upm-interim-report-q3-2024comparable-ebit-32-from-last-year-in-a-challenging-market/

Related Posts

Canfor Investing $130 Million to Modernize Urbana Facility

Canfor Corporation is pleased to announce it will invest approximately $130 million USD to significantly upgrade and expand its sawmill and planer facility located in Urbana in Union County, Arkansas. The investment will capitalize on the abundant supply of high-quality fiber to enhance the manufacturing of high-value products, increase annual production at the facility by 115 million board feet, and result in a meaningful reduction in the facility’s cost structure. The investment aligns with Canfor’s growth and diversification strategy to keep pace with growing customer demand. “We are excited to be investing in our Urbana facility with state-of-the-art technology to modernize the work environment for our valued employees and significantly increase our ability to produce sustainable wood products that will meet the growing needs of our customers,” said Don Kayne, President and CEO, Canfor.

Clearwater Paper Reports Updated Second Quarter Guidance

Clearwater Paper Corporation announced a preliminary update to the company’s previous outlook for second quarter 2020 Adjusted EBITDA of $45 to $55 million. Due to demand, production, and cost trends in April and May that were more favorable than previously anticipated, the company now expects Adjusted EBITDA for the second quarter of 2020 to be in the range of $71 to $77 million. In addition, in connection with its fourth quarter of 2019 earnings call, the company provided its outlook expectations for certain revenue and cost components for the full year of 2020. Due to anticipated performance in the second quarter of 2020, the company now believes that it will, in the aggregate, outperform the previous full-year expectations. The company will provide greater details regarding its performance and results for the second quarter of 2020 on its upcoming earnings call on August 4, 2020.

Promising future for the Tasman mill and Nature’s Flame

The Tasman mill has over the last period commenced production of paper for supplies into the Asian packaging markets in the form of Pulp on Reel. This is part of the ongoing strategic development process to transition the Tasman mill in New Zealand out of standard newprint production. As part of the same strategic review, Norske Skog has received significant inbound interest for Nature’s Flame pellets facility located close to the Tasman mill; therefore, Norske Skog has decided to launch a process to asses the best long term ownership structure for this operation. “The Tasman mill management and the larger Australasian organisation have shown entrepreneurial spirit in quickly developing an alternative business case for the mill, making good commercial use of existing assets and infrastructure on the site. I am certain that the continuing work will result in further ways to maximise the potential in the Tasman mill’s excellent fiber access and fiber processing competencies” says Norske Skog Chief Executive Officer, Sven Ombudstvedt.
Back To Top
×Close search
Search