Metsä Board Husum folding boxboard capacity expansion starts up

The American Forest & Paper Association (AF&PA) has released its Q2 2022 Containerboard Quarterly report. According to the report, total containerboard production in Q2 increased 2% compared to Q2 2021. It was also up 2% when compared to the same 6 months of 2021. New supply of containerboard (domestic production plus imports) was essentially flat compared to Q2 2021, as well as year-to-date. The Linerboard operating rate in Q2 was 94.3%, up 1.5 points from the previous quarter. The Medium operating rate for the quarter was 96%, down 0.6 points from Q1 2022.

Third quarter of fiscal 2020 financial highlights include: *Net sales of $4.2 billion decreased by 9.7% compared to the prior year quarter *Segment EBITDA margins improved sequentially across both segments in a rapidly changing economic environment *Generated net cash provided by operating activities of $740 million *More than $3.2 billion of availability under long-term committed credit facilities and cash and cash equivalents at June 30, 2020

Highlights *Strong volume trends continued throughout the year, with fourth quarter year-over-year volume increases of 15 percent in each of metal containers and closures and 8 percent in plastic containers *Reported record revenue of $4.9 billion, with all-time high volumes achieved in each business segment *Reported cash from operations of $602.5 million, an increase of 19% over 2019 *Completed the acquisition and integration of the dispensing operations of Albéa Group, greatly expanding fragrance, foam and airless pump capabilities *Supported customer and industry efforts to further communicate the benefits of metal packaging for food, including sustainability, low cost, health and convenience *Attained target leverage ratio seven months post-acquisition - leaving the Company well-positioned to take advantage of future cash deployment opportunities