Holmen rises after Q1 profit beat

Holmen AB

28/04/2023 08:42

** Shares in Holmen  HOLMb.ST  jump 5% after the Swedish
maker of paper products posted Q1 EBIT above expectations, which
Jefferies says was driven by graphic paper
    ** The company reported Q1 EBIT of SEK 1.7 billion ($165.2
million), beating the SEK 1.43 billion expected by Visible Alpha
consensus
    ** "Profits remained high despite lower graphic paper
volumes (downtime & destocking), given benefits of elevated
prices and lower electricity cost," Jefferies says
    ** Holmen shares are among top risers on Europe's STOXX 600
index  .STOXX 

($1 = 10.2893 Swedish crowns)

 (Reporting by Marta Frackowiak)
 ((marta.frackowiak@thomsonreuters.com))