Third Quarter Highlights •Revenue of $245.1 million increased 5 percent, or $12.2 million, from $232.9 million in the prior year. •Operating income of $29.0 million increased 8 percent, or $2.1 million, from $26.9 million in the prior year. •Earnings per diluted share (E.P.S.) of $1.10 increased 16 percent from $0.95 per share in 2016. •On an adjusted basis, E.P.S. of $1.02 in 2017 increased 3 percent from $0.99 in 2016. Adjusted E.P.S. excluded $0.12 per share in 2017 for net proceeds from an insurance settlement, and acquisition, integration, and restructuring costs of $0.04 per share in both years. •Cash generated from operations of $36.2 million decreased from $40.6 million in 2016 while capital spending of $8.0 million in the quarter decreased from $20.8 million in the third quarter of 2016. •A binding agreement was signed to acquire Coldenhove, a Netherlands-based performance materials company and leader in digital transfer media, with annual sales of $45 million. Closing occurred on November 1, with a payment of $45 million. Click Read More below for additional information.
SCA has significantly improved its results in WWF’s Environmental Paper Company Index (EPCI), compared with 2013. The company improved its scores in all categories, which is a proof that SCA’s efforts to reduce its environmental impact have paid off.
The EPCI is a tool for companies that are striving for continual improvement of their environmental performance for pulp and paper production, and want to be recognized publicly for their leadership in transparency.
Overall, EPCI 2015 shows a positive trend towards more transparency and sustainability by the world’s more progressive pulp and paper manufacturers. The 31 voluntary participants in this year´s index together produce 15 percent of the world´s paper and board, and 15 percent of the world´s pulp.
SCA improved its scores in all the measured categories – containerboard, graphic paper LWC, graphic paper uncoated offset, pulp, and tissue – compared with the previous index in 2013. The company achieved the following total scores (2013 results in brackets):
•Containerboard: 81.2 percent (75.3)
•Graphic paper LWC: 84.9 percent (79)
•Graphic paper uncoated offset: 85.8 percent (77.1)
•Pulp 86.9 (74.9)
•Tissue 79.1 (72.1)
Lina Palm, Public Affairs Director at SCA, says: “I’m pleased to see that our results have improved across all categories. WWF’s index gives us a good opportunity to evaluate our constant improvement measures within the environmental area, and we also get acknowledgement that our efforts produce concrete results.”
WWF especially highlighted the following progress areas for SCA:
•SCA increased the FSC-certified fiber input levels in containerboard and newsprint.
•In the tissue category SCA increased FSC-certified and recycled fiber input levels, and reduced waste to landfill.
The EPCI started in its current form in 2010. The number of participating companies has increased from 5 in 2010 to 31 in the latest index. This is the fourth time that SCA participates in EPCI.