Norske Skog at record high after 'fantastic' Q4, upbeat outlook

Norske Skog ASA

04/02/2022 10:08

** Shares in Norske Skog  NSKOG.OL  soar 12.9% after the
Norwegian publication paper maker posted year-on-year revenue
and profit growth in Q4, and an "upbeat" guidance 
    ** The company reported Q4 EBITDA of NOK 422 mln ($48.45
mln), nearly 190% above the NOK 146 mln level year ago
 urn:newsml:reuters.com:*:nFWN2UE1DS
    ** Norske Skog said demand for publication paper now exceeds
available capacity; expects operating rates to remain high for
industry well into 2022
    ** Q4 results are "fantastic" and the guidance is "upbeat,"
Pareto Securities analyst Kenneth Sivertsen says
    ** In a note to clients Pareto highlights "massive EBITDA
beat, earnings uplift for 2022," adding that improved prices are
the main positives, compensating for rising energy and raw
material costs
    ** The stock is at its highest ever, and on track for its
best day since May 2020


($1 = 8.7094 Norwegian crowns)

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