Pro forma Q3/2021 compared with Q3/2020 (AhlstromMunksjö)
• Net sales increased by 18.7% to EUR 777.0 million (654.5) on higher selling prices and delivery volumes
• Comparable EBITDA improved to EUR 93.4 million (78.9), representing 12.0% (12.1) of net sales, on higher delivery volumes.
Reported Q3/2021
• Reported operating result was EUR 23.2 million and included items affecting comparability and other items of EUR -23.7 million
• Net result was EUR -9.2 million including net financial items of EUR -31.9 million and taxes of EUR -0.4 million
details at: https://www.ahlstrom-munksjo.com/globalassets/investors/reports-and-presentations/2021/q3-2021_ahlstrom-munksjo-holding.pdf
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All the major shareholder groups of Norske Skogindustrier ASA have indicated their strong support for the consensual recapitalization solution between the Unsecured Committee and the Senior Secured Noteholder Committee reached yesterday. Among the 20 largest shareholders, who control about 38 % of the total number of shares in Norske Skogindustrier ASA, there are already over 75 % support for the recapitalization proposal. At the last general meetings, there have been about 35 - 40 % attendance from the shareholders, where the largest shareholders would constitute more than 90 % of the votes. The transaction will need the support of existing shareholders of Norske Skogindustrier ASA, with a 2/3 majority in an extraordinary general meeting. Among the 20 largest shareholders, there are some nominee accounts, where the shareholder is not known to the public or the company. Such nominee accounts represent almost 20 % of the total number of shares controlled by the 20 largest shareholders, and their vote is therefore unknown to the company. "We are pleased to see that all known major shareholders will support the recapitalization transaction. As repeatedly stated, all alternatives to a consensual solution will entail significantly less value for all parties and rather complicated insolvency processes. If the proposal is successful, the transaction will reduce the group's gross debt from approximately NOK 9 billion to approximately NOK 3 billion and reduce annual cash interest costs from approximately NOK 600 to 200 million", says Mr. Christen Sveaas, chairman and the largest shareholder of Norske Skogindustrier ASA. Click Read More below for additional information.
In June UPM announced plans to permanently close its Jyväskylä plywood mill. The employee consultation processes regarding the plan have now been completed. UPM Jyväskylä plywood mill will be permanently closed on 31.07.2020. The reduction of personnel is 147 people. The planned actions will strengthen UPM Plywood’s overall competitiveness and performance in the long run. UPM will recognise restructuring charges of approximately EUR 22 million as items affecting comparability in its Q2 2020 results. The planned actions would result in annual savings of approximately EUR 11 million.
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