Verso Corporation (NYSE: VRS) today reported financial results for the fourth quarter and year ended December 31, 2014. Results for the quarters ended December 31, 2014 and 2013 include: *Net sales of $326.4 million in the fourth quarter of 2014 compared to $350.4 million in the fourth quarter of 2013. *Operating income before special items of $6.6 million in the fourth quarter of 2014, compared to operating income before special items of $9.7 million in the fourth quarter of 2013. Verso's net sales for the fourth quarter of 2014 decreased $24.0 million, or 6.9%, compared to the fourth quarter of 2013, reflecting a 2.7% decrease in average sales price per ton and a 4.3% decline in total sales volume.
Following a period of downward price pressure last year, the softwood pulp market stabilized in early 2016 and the outlook is now improving. As a result, a number of global price initiatives have already been announced.
“We know from experience that the spring is typically characterized by stronger demand than the start of the year, and that this is also a time for maintenance stoppages in Europe. That’s why we anticipate that the market will tighten even further”, said Magnus Björkman, President of Södra Cell International.In the expectation of a stronger global market and solid demand, Södra will increase its market price for NBSK deliveries in Europe to USD 810/tonne, effective from April 1st 2016.