Q3 2017 highlights: •Comparable EBIT increased by 12% to EUR 351 million (314 million in Q3 2016). •Good growth in deliveries and strong operational efficiency with no significant maintenance activity. •Strong operating cash flow at EUR 486 million (506 million). •Net debt decreased to EUR 623 million (1,479 million). •UPM announced a new focused growth project at the UPM Chudovo plywood mill in Russia. •UPM announced the next step towards entering a new sustainable biochemicals business. Q1-Q3 2017 highlights: •Comparable EBIT increased by 8% to EUR 926 million (859 million in Q1-Q3 2016). •Solid profit performance continued through a turn in input cost environment. Click Read More below for additional information.
Brazilian pulp and paper producer Suzano shut operations throughout Brazil over the weekend in response to an ongoing strike by truck drivers over diesel fuel prices, a company spokesman said Tuesday.
Rafael Mastrocola, head of investor relations for Suzano, told S&P Global Platts the company already had reduced output, since Friday took it further and “as of now we have halted pretty much all of our sites.”
The company expected the strike to be resolved in the next several days, Mastrocola said, as some trucks were seen moving in Sao Paulo on Tuesday after the government agreed on Sunday to comply with drivers’ demand for lower diesel prices. Supply chains would need more time to resume normal operations, he added.
“We still need to have the supply chain at 100% before restarting the mills,” Mastrocola said. “Because of the blockages, we cannot receive 100% of the inputs we need.”