January-June 2023 compared with January-June 2022
- The book value of SCA's forest assets increased to
SEK 98.9bn compared withSEK 97.9bn at the end of the preceding year. -
Net sales declined to
SEK 9,395m (10,914). The decrease was primarily attributable to lower selling prices. -
EBITDA amounted to
SEK 3,755m (5,729). The change was mainly attributable to lower selling prices. Growth in renewable energy and strong earnings in segment Forest had a positive impact on earnings. EBITDA margin was 40.0% (52.5). -
Operating profit amounted to
SEK 2,825m (4,958). -
Operating cash flow decreased to
SEK 1,851m (3,085). -
Earnings per share was
SEK 3.06 (5.50).
April-June 2023 compared with April-June 2022
- Net sales declined to
SEK 4,582m (5,899). The change was mainly attributable to lower selling prices. -
EBITDA amounted to
SEK 1,700m (3,121). The decline was mainly attributable to lower selling prices. Good control over SCA's own value chain with a high degree of self-sufficiency in particularly timber, but also energy and logistics, resulted in effective cost control and had a positive effect. EBITDA margin was 37.1% (52.9).
April-June 2023 compared with January-March 2023
- Net sales amounted to
SEK 4,582m (4,813). The change was mainly attributable to lower selling prices for pulp and containerboard, which were offset by higher delivery volumes. -
EBITDA amounted to
SEK 1,700m (2,055). EBITDA margin was 37.1% (42.7).
|
| Quarter |
| Jan-Jun | ||||||
SEKm |
| 2023:2 | 2022:2 | % | 2023:1 | % |
| 2023 | 2022 | % |
Net sales |
| 4,582 | 5,899 | -22 | 4,813 | -5 |
| 9,395 | 10,914 | -14 |
EBITDA |
| 1,700 | 3,121 | -46 | 2,055 | -17 |
| 3,755 | 5,729 | -34 |
EBITDA margin, % |
| 37.1 | 52.9 |
| 42.7 |
|
| 40.0 | 52.5 |
|
Operating profit |
| 1,229 | 2,735 | -55 | 1,596 | -23 |
| 2,825 | 4,958 | -43 |
Net Profit |
| 916 | 2,180 | -58 | 1,213 | -24 |
| 2,129 | 3,940 | -46 |
Earnings per share SEK |
| 1.32 | 3.05 |
| 1.74 |
|
| 3.06 | 5.50 |
|
|
|
|
|
|
|
|
|
|
|
|
Operating cash flow |
| 648 | 1,942 |
| 1,203 |
|
| 1,851 | 3,085 |
|
Net Debt / EBITDA (LTM) |
| 1.3x | 0.8x |
| 1.2x |
|
| 1.3x | 0.8x |
|
SUMMARY OF THE SECOND QUARTER OF 2023
SCA's high degree of self-sufficiency in particularly timber, but also energy and logistics, has resulted in effective cost control, and was a significant factor in our good profitability in a period with rising prices for wood raw material and lower prices for fiber-based products. Earnings for the second quarter of 2023 weakened compared with the preceding quarter and the year-earlier quarter as a result of lower selling prices.
The supply of wood raw material to SCA's industries was stable during the quarter, although continued price increases were noted for pulpwood and sawlogs.
Selling prices for solid-wood products increased compared with the preceding quarter on account of seasonably higher demand. However, underlying demand remained weak in most customer segments and geographies.
Demand in the Pulp segment was weak for both chemical pulp and CTMP, which resulted in lower selling prices in all geographies. The new CTMP facility at the Ortviken site in Sundsvall, which began operating at the end of the preceding year, contributed to higher delivery volumes.
Low demand for packaging material contributed to continued weak demand for kraftliner. The average selling price for kraftliner was lower in the second quarter than in the preceding quarter. At the end of last year, the new paper machine at Obbola began operating, one quarter ahead of schedule. The new recovered fiber line, which is necessary for increased production volume, was also taken into operation in mid-year. The ramp up of the paper machine is proceeding according to plan.
The energy business continues to grow and despite lower seasonal sales the result in segment Renewable Energy was in line with last quarter. The market for solid biofuels was strong. The wind power business continued to grow, in the end of the second quarter, 738 wind turbines were operating on SCA's land with an annual production capacity of 8.2 TWh. The acquired wind farm in Markbygden also contributed positively to the result development. The market for crude tall oil remained strong and the biorefinery in
INVITATION TO PRESS CONFERENCE ON HALF-YEAR REPORT 2023
Members of the media and analysts are hereby invited to attend a press conference where this interim report will be presented by the President and CEO,
Time: |
The press conference will be webcast live at www.sca.com. It is also possible to participate by telephone by calling:
US: |
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Please note:
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The core of SCA's business is the growing forest,
https://news.cision.com/sca/r/half-year-report--q2-2023,c3808035
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https://mb.cision.com/Public/600/3808035/97c4abc3496b0a56.pdf
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