SCA published the first financial report as a separate forest and forest products company

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SCA/Fordaq
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SCA has published its January-June 2017 interim report, for the first time as just forest and forest products company. As reported before, the Annual General Meeting’s decision to split SCA into two listed companies has been implemented.

During the period, shares in the discontinued operation Essity (the hygiene business) were distributed to SCA’s shareholders and on June 15, Essity was listed on Nasdaq Stockholm. Net profit for the period mainly comprised an earnings effect of SEK 136,914m from the distribution of Essity shares. The distribution was a non-recurring event. 

Thus, in the above mentioned period the company's financial results were they following:

  • Net sales increased 7% to SEK 8,191m (7,665)
  • Adjusted EBITDA increased 2% to SEK 1,634m (1,602)
  • The adjusted EBITDA margin was 19.9% (20.9)
  • Adjusted operating profit amounted to SEK 1,062m (1,039)
  • Operating profit amounted to SEK 949m (1,158)
  • Net profit for the period from continuing operations amounted to SEK 651m (914)
  • Earnings per share from continuing operations amounted to SEK 0.93 (1.30)
  • Operating cash flow from continuing operations amounted to SEK 906m (1,340)

The reported result for the second quarter of 2017 was significantly impacted by extended planned maintenance stops at several of SCA’s mills. Earnings were similarly affected by costs for the recently completed company split, and for the major ongoing investment project at the Östrand pulp mill. Underlying earnings are stable.

General market conditions for forest industry products are relatively strong with high demand in China, North America and Europe. The exception is publication papers, which have been adversely impacted by a continued structural decline.

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