UPM Raflatac wins 2023 TLMI Calvin Frost Elevation Sustainability Award

Mr. David M. Gandossi, the Chief Executive Officer, stated: "We are pleased with our performance and results for the first quarter of 2018 as: * we generated record Operating EBITDA of $99.4 million in the current quarter; * in 2018 we continued realizing on identified fiber synergies between the Friesau Facility and our German pulp mills. In the first quarter of 2018, including fiber, we estimate we have realized approximately $3.5 million of synergy savings; and * our pulp mills had solid production in the current quarter, with no scheduled maintenance downtime. Click Read More below for additional information.

For the second quarter ended 30 June 2022 Lecta had revenue of €529.4 million versus €310.7 million in the second quarter ended 30 June 2021, an increase of €218.7 million or +70%. The costs of raw materials and consumables used increased by €75.7 million, or +18.6%, from €155.9 million in 2Q2021 to €231.6 million in 2Q2022, and as a percentage of revenue they decreased from 50.2% in 2Q2021 to 43.7% in 2Q2022. The absolute increase was mainly attributable to higher produced and purchased volumes, and to an increase in the average consumption price of pulp of 193€/t of paper. Labor costs increased by €5.2 million, or +11.9%, from €43.4 million in 2Q2021 to €48.5 million in 2Q2022, and as percentage of revenue they decreased from 14.0% in 2Q2021 to 9.2% in 2Q2022. EBITDA increased by €35.9 million, from €11.6 million in 2Q2021 to €47.5 million in 2Q2022. This increase was essentially due to higher sales of paper in volume and higher sales prices, partly offset by higher production cost and higher labor and fixed costs.

As part of a settlement entered into by Verso with two Canadian producers of supercalendered papers, Verso today requested that the U.S. Department of Commerce revoke its order imposing duties on supercalendered papers made by those Canadian producers and imported into the U.S. The SC paper tariffs were intended to offset the impact of Canadian subsidies paid to Canadian producers of SC paper in order to help U.S. producers who were injured by the subsidized imports. However, injurious Canadian SC imports continue to enter the United States even with the tariffs, and imports from other non-U.S. SC producers which are not subject to the tariffs have increased. These factors offset the benefits of the tariffs to Verso. If the Department of Commerce grants Verso’s request to revoke the tariffs, it could provide Verso with a meaningful amount of cash over time, which we will evaluate how to use to best benefit our company and make us an even healthier supplier. However, there is no assurance that the Department of Commerce will grant our request to revoke the tariffs or that such funds will be provided to Verso. Be assured that we continue to make supercalendered paper at the Duluth Mill. Verso’s decision to settle the trade case is unrelated to any decisions about potential changes to Verso’s production assets at the Duluth Mill or to the types of products we make there.