SCA shares jump after Q3 EBITDA beat

Svenska Cellulosa Aktiebolaget SCA

25/10/2024 08:51

** Shares in Svenska Cellulosa  SCAb.ST  rise 6.4% after the
Swedish forestry firm posted higher-than-expected Q3 profits
    ** SCA reports EBITDA of SEK 2,010 million ($190.1 million),
which exceeds the SEK 1,880 million  estimate seen in a
company-compiled consensus 
    ** "Maintenance shutdown costs are slightly higher than
expected, which implies that on an underlying basis, these
results are slightly stronger than the beat suggests," Detlef
Winckelmann of J.P.Morgan notes
    ** JPM points to the Wood, Pulp and Containerboard divisions
as biggest drivers of the growth in earnings, with volumes in
Wood rising 3% qoq in a seasonally weaker Q3
    ** Shares of SCA are among top performers on STOXX 600
 .STOXX  index, which slides 0.3%, and are on track for their
best day since April 28, if gains hold
    
    ($1 = 10.5731 Swedish crowns)

 (Reporting by Tomasz Kanik)
 ((tomaszk.kanik@thomsonreuters.com; +48 58 769 66 00;))