SCA slides as adjusted Q4 core profit misses mark

Svenska Cellulosa Aktiebolaget SCA

26/01/2024 08:44

** Shares in Svenska Cellulosa  SCAb.ST  fall 3.3% after the
Swedish forestry firm posted its Q4 adjusted operating profit
below estimates
    ** Though the company reports Q4 EBIT 30% ahead of
estimates, J.P. Morgan notes this appears to be driven entirely
by the revaluation of forest assets
    ** "On an adjusted basis, the Q4 results look to be a ~23%
miss,", JPM says
    ** The broker points to prices in the Wood unit that were
lower than both JPM estimates and management guidance
    **  It also notes higher than expected losses in Pulp,
partially due to high maintenance costs 



 (Reporting by Tilla Sjaavaag)
 ((tilla.sjaavaag@thomsonreuters.com; +48 58 7696600;))