Pratt Industries announced it would invest $400 million in a new 100% recycled paper mill in Henderson, Kentucky. This represents the largest single investment by the company in its history and will create more than 320 full time jobs plus an additional 700 in the construction phase. “It will be the world’s most advanced, environmentally-friendly 100% recycled paper mill,” said company owner and executive chairman Anthony Pratt. “And it means Pratt Industries will have built 6 of the last 8 paper mills in the United States.” Construction on the 450,000 sq ft mill would begin next March with a startup date scheduled for Fall 2023.
JANUARY–JUNE 2022 (compared to 1–6/2021)
*Sales were EUR 1,232.5 million (1,049.5).
*The comparable operating result was EUR 267.4 million (191.3), or 21.7% (18.2) of sales. Operating result was EUR 283.3 million (185.6).
*Comparable earnings per share were EUR 0.57 (0.42), and earnings per share were EUR 0.61 (0.41).
*Comparable return on capital employed was 23.0% (19.3).
*Net cash flow from operations was EUR 95.3 million (150.7).
METSÄ BOARD’S CEO MIKA JOUKIO:
“Metsä Board’s second quarter was again a record quarter in many ways. Our sales amounted to EUR 650 million, and our comparable operating result to EUR 146 million. The comparable return on capital employed was as high as 25%. Despite several annual maintenance shutdowns in the second quarter, the paperboard production volumes actually increased from the first quarter. In the first half of the year, the total production volumes of paperboards, pulp and BCTMP were at a record high.
Our comparable operating result in January –June was EUR 267 million, or nearly 22% of sales. Our profitability improved due to significantly higher sales prices of folding boxboard and white kraftliners in all our market areas. The stronger dollar against the euro has had a positive effect on results, especially on the paperboard business in the Americas and in the market pulp business overall.
Thanks to the strong market situation, the end of sales in Russia did not have a negative impact on our paperboard sales. On the contrary, we used the volumes released to support our key customers’ growth projects and thus improved customer satisfaction. The supply of wood and natural gas to our mills has also been normal, despite the end of supplies from Russia.
details at: https://www.metsagroup.com/metsaboard/news-and-publications/news/2022/metsa-boards-comparable-operating-result-in-januaryjune-2022-was-eur-267-million/