Fedrigoni closed 3Q 2024 with revenues of 468.3 million euros compared to 412.0 million in the same period of 2023 (+13.7%) and an adjusted Ebitda of 61.7 million, 8.2% higher than the 57.0 million in 3Q 2023. A growth trajectory confirmed by the results for the first 9 months of the year, which stood at 1.425.4 million in revenues (+8.7% compared to 1.311.2 million in January-September 2023) and 221.7 million in adjusted Ebitda (+8.2%, up from 204.9 million). The Group is set to end the year with revenues over 2 billion euros. “2024 was characterized again by a discrete volatility,” comments CEO Marco Nespolo, ”we started with good results in the first six months, partially driven by a recovery in the destocking trend across the value chains we serve. In the latter part of the year we had a gradual slowdown mainly due to softening growth in some end markets such as luxury and wine&spirit. Overall it was a pretty positive year that we estimate to close with about 10% growth in Revenues and Ebitda. In fact, barring any particular surprises in the last months of the year, we expect 2024 revenues to exceed €2 billion (up from €1.8 billion in 2023) and pro forma Ebitda to exceed €370 million, up about 10% from the previous year (€337.7 million)”

Stora Enso will start codetermination negotiations with employees at its Hylte Mill in Sweden regarding a plan to reorganise the mill, including permanent closure of paper machine PM3 and the deinking plant (DIP). After the planned restructuring, the mill would run on 100% thermomechanical pulp (TMP), improving the competitiveness of the mill. The planned closure of PM3 and the reorganisation of the mill would impact a maximum of 140 persons. PM3 is planned to be closed by the end of 2020 and the DIP latest in Q2 2021. Stora Enso will continue to produce standard newsprint at Hylte, Langerbrugge and Sachsen mills. The closure of Hylte Mill PM3 would not impact Stora Enso’s newsprint product offering, and we would be able to serve our customers as today.

Norske Skog’s EBITDA in the fourth quarter of 2020 was NOK 146 million, an increase from NOK 73 million in the third quarter of 2020, as a result of increased sales volume and favourable cost development. Despite improvements in the fourth quarter, the markets have not returned to pre-COVID-19 levels. Cash flow from operations was NOK 73 million in the quarter compared to NOK 115 million in the previous quarter, mainly due to a reduction of inventory and accrued CO2-compensation to be paid in 2021. Operating earnings in the fourth quarter of 2020 were NOK -1 276 million compared to operating earnings of NOK -31 million in the third quarter of 2020.