Brief: Norske Skog Q2 EBITDA Falls To NOK 17 Million

Norske Skog ASA

16/07/2021 05:59

July 16 (Reuters) - Norske Skog ASA  NSKOG.OL :
    * HIGHER COSTS, SIGNIFICANT PRICE INCREASES AHEAD
    * NORSKE SKOG'S EBITDA IN Q2 OF 2021 WAS NOK 17 MILLION, A
DECREASE FROM NOK 112 MILLION IN Q1 OF 2021.
    * MARKETS ARE STILL SOMEWHAT IMPACTED BY COVID-19 IMPOSED
RESTRICTIONS, BUT ARE EXPECTED TO IMPROVE DURING SECOND HALF OF
YEAR AS A RESULT OF SUBSTANTIAL CAPACITY CLOSURES AND EXPECTED
SALES PRICE INCREASES
    * CASH FLOW FROM OPERATIONS WAS NOK -190 MILLION IN QUARTER
COMPARED TO NOK 163 MILLION IN PREVIOUS QUARTER
    * LOW SALES PRICES AND HIGHER ENERGY AND RECOVERED PAPER
COSTS
DURING QUARTER.
    * Q2 TOTAL OPERATING INCOME NOK 2,346 MILLION VERSUS NOK
2,167
MILLION YEAR AGO
    * SIGNIFICANT CAPACITY CLOSURES COMPLETED IN Q2 AND FURTHER
CAPACITY CLOSURES ANNOUNCED IN Q2 2021 CONTINUE TO IMPACT MARKET
BALANCE POSITIVELY INTO H2
    * OPERATING RATES ARE EXPECTED TO INCREASE IN INDUSTRY IN
REMAINDER OF 2021 AND INTO 2022
    * NORSKE SKOG ASA -

Source text for Eikon:  ID:nObi9hM5wa 
Further company coverage:  NSKOG.OL 

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