Miss driven by Pulp Paper market better, but still not good enough Outlook remains muted Miss driven by Pulp Q1 group EBITDA came in at PLN...
Q1e: Clean paper EBIT of ~PLN 15m Price hikes, but demand soft Fair value range of SEK 34-75 Our earnings bridge We expect Q1 Paper EBIT of...
Q4e: Clean paper EBIT of ~PLN 10m Paper prices down, demand muted Fair value range of SEK 40-80 This is our earnings bridge: We expect Q4 P...
Paper EBITDA PLN 49m, above ABGSCe PLN 47m Group EBITDA beat driven mainly by Paper Outlook remains muted, Q4 likely flat/slightly better (s...
Q2 challenging, same trends expected for Q3 Paper — better demand, more supply cuts, higher prices Fair value range of SEK 40-80 Q2 challen...
Paper EBITDA PLN 50m, below ABGSCe PLN 59m Group EBITDA miss driven by weaker on both paper and pulp Paper — better demand, more supply cuts...
Our earnings bridge: We expect Q2 Paper EBIT of PLN 38m, down from PLN 94m in Q1'24.
Paper EBITDA PLN 109m, in line vs ABGSCe PLN 108m Group EBITDA miss driven by Rottneros Paper markets still weak, but demand better Beat on...
Q1e: Clean EBIT of PLN 87m Paper is improving – better demand and 10% supply cuts Fair value range of SEK 40-80 per share Q1e: Paper volume...
FY23 was a year with numerous obstacles for the European paper and pulp industry, including lower demand due to an economic downturn and cus...
Paper EBITDA PLN 120m vs. ABGSCe PLN 108m Weak performance from Rottneros drags group results down Paper markets still weak, but demand bett...
Q4e: Clean EBIT of PLN 87m Paper markets still weak, but demand better Fair value range of SEK 40-80 per share Q4e: Paper volumes are picki...
Q3: Paper EBITDA PLN 97m vs. ABGSCe of PLN 65m Paper markets still weak - more cuts needed Fair value range: SEK 40-80 Q3 beat on higher vo...
Paper EBITDA PLN 97m vs. ABGSCe PLN 65m Beat driven by higher volumes and lower costs Early signs of recovery — destocking has faded Beat d...
Q3e: Clean EBIT of PLN 31m Better capacity utilisation incoming in '24 Fair value range SEK 30-75 per share Q3e: Destocking fades and plung...
Q2: EBITDA PLN 69m vs. ABGSCe of PLN 112m Paper market balance under pressure from weak demand Fair value range: SEK 35-80 Q2: EBITDA below ...
• EBITDA PLN 60-70m vs. ABGSCe PLN 112m • Miss driven by weaker paper volumes • Destocking likely to fade in H2'23 Miss driven by volume pre...
• Niche paper player turning into a diversified pulp & paper group • Paper prices pointing down - more capacity cuts needed • Fair value ran...
