Brief: Norske Skog EBITDA In Q3 Rises To NOK 73 Million

Norske Skog ASA

22/10/2020 06:13

Oct 22 (Reuters) - Norske Skog ASA  NSKOG.OL :
    * CAPACITY ADJUSTMENTS
    * NORSKE SKOG'S EBITDA IN Q3 OF 2020 WAS NOK 73 MILLION, A
SLIGHT
INCREASE FROM NOK 52 MILLION IN Q2 OF 2020 WHEN EXCLUDING GAIN
OF NOK 86 MILLION FROM SALE OF TASMANIAN FOREST
    * NORSKE SKOG SAUGBRUGS (NORWAY) WILL PERMANENTLY CEASE
PRODUCTION
AT ONE OF THEIR SC-MACHINES (PM5/100 000 TONNES) DURING Q4
    * ALTHOUGH, THERE ARE MODEST SIGNS OF DEMAND IMPROVEMENT,
MARKETS
HAVE NOT RETURNED TO PRE-COVID-19 LEVELS
    * OPERATING EARNINGS IN Q3 OF 2020 WERE NOK -31 MILLION
COMPARED
TO OPERATING EARNINGS OF NOK -122 MILLION IN Q2 OF 2020, MAINLY
DRIVEN BY A MODEST SALES VOLUME INCREASE
    * NORSKE SKOG SAUGBRUGS (NORWAY) WILL PERMANENTLY CEASE
PRODUCTION
AT ONE OF THEIR SC-MACHINES (PM5/100 000 TONNES) DURING Q4.
    * Q3 NET LOSS IN QUARTER WAS NOK 89 MILLION COMPARED TO A
NET LOSS
OF NOK 59 MILLION IN PREVIOUS QUARTER
    * NEAR-TERM MARKET BALANCE FOR PUBLICATION PAPER IN EUROPE
IS
EXPECTED TO REMAIN WEAK DUE TO A STRUCTURAL DEMAND SHIFT IN
LIGHT OF COVID-19
    * SIGNIFICANT ANNOUNCED CAPACITY CLOSURES ARE EXPECTED TO
IMPROVE
LONG-TERM MARKET BALANCE, ESPECIALLY IN 2021

Source text for Eikon:  ID:nObiDqgQSa 
Further company coverage:  NSKOG.OL 

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