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2025-02-07 Bokslutskommuniké 2024
2024-10-18 Kvartalsrapport 2024-Q3
2024-07-12 Kvartalsrapport 2024-Q2
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2024-04-12 Ordinarie utdelning NSKOG 0.00 NOK
2024-04-11 Årsstämma 2024
2024-02-08 Bokslutskommuniké 2023
2023-11-20 Bonusutdelning NSKOG 0.67
2023-10-20 Kvartalsrapport 2023-Q3
2023-07-14 Kvartalsrapport 2023-Q2
2023-04-27 Kvartalsrapport 2023-Q1
2023-04-20 Årsstämma 2023
2023-03-09 Extra Bolagsstämma 2022
2023-01-27 Bokslutskommuniké 2022
2022-10-21 Kvartalsrapport 2022-Q3
2022-07-15 Kvartalsrapport 2022-Q2
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2022-04-22 Ordinarie utdelning NSKOG 0.00 NOK
2022-04-21 Årsstämma 2022
2022-02-04 Bokslutskommuniké 2021
2021-10-22 Kvartalsrapport 2021-Q3
2021-07-16 Kvartalsrapport 2021-Q2
2021-04-23 Kvartalsrapport 2021-Q1
2021-04-16 Ordinarie utdelning NSKOG 0.00 NOK
2021-04-15 Årsstämma 2021
2021-02-05 Extra Bolagsstämma 2021
2021-02-04 Bokslutskommuniké 2020
2020-10-22 Kvartalsrapport 2020-Q3
2020-08-31 Bonusutdelning NSKOG 3
2020-07-16 Kvartalsrapport 2020-Q2
2020-04-23 Kvartalsrapport 2020-Q1
2020-04-17 Ordinarie utdelning NSKOG 3.25 NOK
2020-04-16 Årsstämma 2020
2020-02-06 Bokslutskommuniké 2019

Beskrivning

LandNorge
ListaOB Match
SektorMaterial
IndustriSkog & Cellulosa
Norske Skog är verksamma inom skogsindustrin. Bolaget är en tillverkare av diverse produkter för nyhetstidningar, posters samt kontorspapper. Störst verksamhet återfinns inom den nordiska marknaden, men företaget har även produktionsanläggningar runtom den australiensiska marknaden. Kunderna består av diverse företagskunder inom varierande branscher.
2020-04-23 07:55:00
Norske Skog’s EBITDA in the first quarter of 2020 was NOK 379 million, a
decrease from NOK 560 million in the fourth quarter of 2019, mainly due to the
sale of water rights and the termination of energy contract recognised in the
fourth quarter. The annual general meeting was held on April 16, and approved to
pay a dividend of NOK 6.25 per share. The COVID-19 pandemic will have
significant near-term impact on operations due to current worldwide restrictions
on movement of goods and people which reduces demand for publication paper.


- Norske Skog delivered a strong operating performance in first quarter of 2020.
At present, we recognise the effects of the corona restrictions in most of our
markets. The current challenging market conditions will be handled with active
asset management; however, we are utilising our strong financial platform to
transform the traditional publication paper operations into new green growth
initiatives, says Sven Ombudstvedt, CEO of Norske Skog.


Operating earnings in the first quarter of 2020 were NOK 90 million compared to
operating earnings of NOK -117 million in the fourth quarter of 2019. Net loss
in the quarter was NOK 374 million compared to a net loss of NOK 158 million in
the previous quarter, impacted by the weakening of the NOK, unrealised currency
losses on debt, and negative non-cash changes in the valuation of energy
contracts. 


Cash flow from operations was NOK 470 million in the quarter compared to NOK -78
million in the previous quarter, positively impacted by release of working
capital (including receipt of CO2 compensation) and a reduction in restructuring
payments compared to the previous quarter. Net interest-bearing debt was NOK 269
million at the end of the first quarter, with an equity ratio of 51%.

Key figures, first quarter of 2020
NOK MILLION (unless otherwise stated)	
                                          Q120    Q419    Q119    YTD20    YTD19
INCOME STATEMENT	 	 	 	 	 
Total operating income	                 2 771	 3 344	 3 107	  2 771	   3 107
EBITDA	                                   379	   560	   429	    379	     429
Operating earnings	                    90	  -117	   253	     90	     253
Profit/loss for the period	          -374	  -158	   153	   -374	     153
 	 	 	 	 	 
CASH FLOW	 	 	 	 	 
Net cash flow from operating activities	   470	   -78	   305	    470	     305
Net cash flow from investing activities	   408	     0	   -92	    408	     -92
 	 	 	 	 	 
OPERATING MARGIN AND PROFITABILITY (%)	 	 	 	 	 
EBITDA margin	                          13.7	  16.8	  13.8	   13.7	    13.8
Return on capital employed (annualised)	  20.2	  30.0	  26.0	   20.2	    26.0
 	 	 	 	 	 
Capacity utilisation 
(Production / capacity %)	            86	    88	    89	     86	      89



The corona situation
Norske Skog has and will closely monitor the development of the coronavirus, and
corresponding effects on the supply chains and markets. As earlier communicated,
Norske Skog will adjust operational activity to market developments. For the
time being, all business units operate as normal except for:

•  In Norway, Saugbrugs has ceased production on two paper machines (PM4 and
PM5)
   due to negative market developments due to the coronavirus restrictions. 
   As a result of this, 173 employees are temporarily laid off. 

•  In New Zealand, the Tasman mill ceased production from 13 April due to
national
   lock down restrictions.  The mill is expected to commence production at the
end
   of next week due to relief in the lock down restriction regime. 


Segment information
Total annual production capacity for the group is 2.3 million tonnes. In Europe,
the capacity is 1.9 million tonnes, while in Australasia the capacity is 0.4
million tonnes. 

Europe
Operating income decreased from the previous quarter due to lower sales volumes
and a decrease in sales prices. Variable cost per tonne slightly decreased in
the quarter with an underlying reduction in variable cost for pulpwood,
recovered paper and energy. Fixed costs were somewhat lower. According to
Eurograph, demand for newsprint in Europe decreased by 12% through February
compared to the same period in 2019. SC magazine paper demand decreased by 4%,
while demand for LWC magazine paper declined by 9%. Our capacity utilisation was
86% in the quarter, down from 88% in the previous quarter.

Australasia
Sales volume and operating income decreased from the previous quarter due to the
closure of Albury. Asian newsprint prices remained low in the quarter, with less
impact as export volumes have been reduced. Despite reduced export volumes and
favourable AUD exchange rates to USD for export sales, weak export prices
impacted the EBITDA margin negatively. Variable cost per tonne were increased
compared to the previous quarter. Fixed costs were down in the quarter but
increased per tonne due to lower production volumes. According to official trade
statistics, demand for newsprint in Australasia declined by 16% through March
compared to the same period in 2019. Demand for magazine paper declined by 15%.
Capacity utilisation was 85% in the period, down from 86% in the previous
quarter.


Outlook
The global market balance for publication paper has in April weakened due to
national imposed restrictions following the outbreak of the coronavirus. This
caused a negative impact on distribution of newspapers, catalogues and magazines
as well as uncertainty on the supply of raw materials. In the short-term, the
fall in demand may develop beyond the structural decline experienced during 2019
and into 2020. Insufficient supply of raw material may lead to temporary
closures of production. Lower sales prices in the first half of 2020 will to
some degree be offset by a decrease in input cost from energy, pulpwood and
recovered paper.

The group will continuously monitor and evaluate the impact of the corona
situation on the company’s operations and business outlook., The health and
safety of the group’s employees are top priority under the circumstances.
Further operational as well as liquidity measures could be implemented at future
dates. 

In light of these unprecedented and challenging circumstances, Norske Skog will
remain committed to the on-going task to improve core business, convert certain
of the group’s paper machines and diversify the business within bioenergy, fibre
and biochemicals.


About Norske Skog
Norske Skog is a world leading producer of publication paper with a strong
market position in Europe and Australasia. Publication paper includes newsprint
and magazine paper. The Norske Skog group operates six mills and a pellets
business in five countries, with an annual publication paper production capacity
of 2.3 million tonnes and pellets capacity of 85,000 tonnes. Newsprint and
magazine paper is sold through sales offices and agents to over 80 countries.
The group has approximately 2,300 employees. In addition to the traditional
publication paper and pellets business, new growth initiatives related to
renewable energy, bio chemical products and fibre products have been launched.


Presentation and quarterly material
Due to restrictions imposed by COVID-19, there will be no live presentation by
the company. The CEO presentation, the quarterly financial statements and the
press releases are available on www.norskeskog.com and published on
www.newsweb.no under the ticker NSKOG. If you want to receive future Norske Skog
press releases, please subscribe through the website of the Oslo Stock Exchange
www.newsweb.no.

Investors are invited to participate in a conference call at 12:00 CET, in which
Sven Ombudstvedt and Rune Sollie (CFO) will be available to address questions.
The conference call will be held in English. Please register your conference
call participation through the following email address: events@carnegie.no
Dial-in information will be distributed prior to the call to registered
participants.


Norske Skog
Communications and Public Affairs

For further information:

Norske Skog media:
Kommunikasjonsdirektør                                                          
                                      
Carsten Dybevig
Mob: 917 63 117
Twitter: @Norske_Skog

Norske Skog financial markets:                                                  
                                              
Investor Relation Manager
Even Lund
Mob: +47 906 12 919