State forest company Sveaskog reports a profit before tax of 578 million SEK for the second quarter, compared with 495 million SEK during the same period last year. The positive earnings trend continued during the first half of 2010. The improvement in earnings was due to increased net sales generated by higher volumes and higher prices. Read more
The Board of Directors of Avery Dennison Corporation has announced a quarterly cash dividend of $0.20 per share. The dividend is payable September 15, 2010, to shareholders of record at the close of business on September 1, 2010.
Seattle, USA. July, 2010. Read more
Korsnäs develops, manufactures and sells virgin fibre based packaging material and have three mils developing pulp, paper board. Korsnäs' operating profit increased with 46% to SEK 243 m (167) and the operating margin was 12.1% (7.8%) including calculated conflict compensation. Read more
The wood and pulp producer Billerud had a strong Q2 this year. Billerud's profit before tax was SEK 182 million for the second quarter, analysts expected a profit before tax of 142 million, according to the SME Direct compilation report.
CEO Per Lindberg comments on the development during Q2 2010:
"With an operating profit of SEK 201 million for the second quarter of 2010 we now have three consecutive quarters behind us with an operating margin of 10%. We have continued our efforts to restore prices in local currency and prices for our packaging paper during the quarter were on average approximately 6% higher than in the previous quarter in each sales currency. This work is being given priority since part of these increases is needed to counteract on a strengthened Swedish crown." Read more
Newsletter: July 2010 from European Biomass Association
European Bioenergy Conference and Exhibition 2010
Establishment of the European Pellets Council in Brussels
Austrian renewable energy plan–let’s withdraw from promoting RES
European Platform on RES heating-cooling–100% RES heat by 2050
The EU Commission set the rules for biofuels sustainability
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Best quarterly earnings since second quarter of 2007
The Finish-Swedish forest industry giant Stora Enso, with CEO Jouko Karvinen, returned to profit and managed to come up with a better-than-expected net profit. EUR 213 million quarterly operating profit. Analysts' expectations for a profit before tax of EUR 111 million according to Reuters.
The outlook for the third quarter is mixed and still uncertain. Market demand in all paper segments is expected to remain clearly below the pre-crisis levels of 2008. Prices are forecast to be slightly higher or higher than in the second quarter of 2010 in many of the segments. Read more
“Our second quarter results are strong by all measures. Operating profit
excluding NRI and fair valuations at EUR 213 million, cash flow from operations
at EUR 305 million, ROCE at 10.5% and net cash position at EUR 856 million are
all not only huge improvements from a year ago, but also testimony to the early
and often difficult actions we have taken in the past three years. Read more
The leftwing and green opposition parties must provide clear indications about the proposed new kilometer tax. Marie S Arwidson CEO of Swedish forest industries federation criticize kilometer tax 2 months before the Swedish election in Dagens Nyheter 22nd July one of the biggest Magazines in Sweden. The red-green parties have added a number of infrastructure proposals which are important for export industry. But these new proposals end up in the shadow of the kilometer tax.
Among the questions she asks in the article:
What is the purpose with the kilometer tax? How big will it be? Is it at all feasible? Read more
Today Californians for Alternatives to Toxics and the Center for Biological Diversity officially notified the Environmental Protection Agency of their intent to sue the agency in 60 days for its failure to review and update Clean Air Act rules, called New Source Performance Standards, for kraft pulp mills. Kraft pulp mills dissolve wood chips into fibers later used to make paper products. Read more
