Brief: Norske Skog Will Temporarily Adjust Production To Customer Demand

Norske Skog ASA

27/04/2023 06:17

April 27 (Reuters) - Norske Skog ASA  NSKOG.OL :
    * STILL STRONG PERFORMANCE DESPITE WEAKER MARKETS
    * EBITDA IN Q1 OF 2023 WAS NOK 675 MILLION, A DECREASE FROM NOK 1 083 MILLION IN Q4 OF 2022.
    * WEAKENED PUBLICATION PAPER MARKET RESULTED IN INCREASED FINISHED GOODS INVENTORY AND SOME
MARKET
DOWNTIME WITH SALE OF EXCESS ENERGY
    * Q1 EBITDA NOK 675 MILLION VERSUS NOK 610  MILLION YEAR AGO
    * THERE IS STILL SOME UNCERTAINTY TO HOW GLOBAL ECONOMY WILL PERFORM IN 2023 ESPECIALLY IN
RAW
MATERIAL- AND ENERGY MARKETS.
    * RAW MATERIAL AND ENERGY PRICES ARE BELOW RECORD LEVELS EXPERIENCED IN 2022, BUT ARE STILL
FAR
ABOVE HISTORICAL AVERAGE LEVELS
    * DECREASE IN ENERGY PRICES AND DECREASED DEMAND FOR PUBLICATION AND PACKAGING PAPER HAVE
RESULTED
IN LOWER SALES PRICES.
    * IT IS EXPECTED THAT DEVELOPMENT OF COSTS AND PAPER DEMAND WILL INFLUENCE PAPER SALES
PRICES IN
EUROPE.
    * DECREASED DEMAND FOR PUBLICATION PAPER HAS INITIATED FURTHER ANNOUNCEMENTS OF CAPACITY
CLOSURES
IN INDUSTRY
    * GROUP WILL TEMPORARILY ADJUST PRODUCTION TO CUSTOMER DEMAND.
    * WILL CONTINUE TO DEVELOP INDUSTRIAL SITES, INCLUDING FURTHER CONVERSIONS

Source text for Eikon:  ID:nObi4qWKta 
Further company coverage:  NSKOG.OL 

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