Norske Skog's first quarter results fall significantly
News General news
The results of Norske Skog, Lysaker, slipped back into the red in the first quarter of the current year after the high profits in the fourth quarter of 2023 due to insurance payments, and are also significantly below the comparative figures for the previous year.
With sales of nkr 2.69 billion (2023: nkr 3.32 billion), EBITDA of nkr 76 million (2023: nkr 675 million) was achieved. The operating result is negative and amounts to nkr -177 (85) million, while the net loss widened to nkr -328 (-181) million.
Norske Skog was satisfied with the demand for publication paper in the first quarter. The ramp-up of corrugated base paper production at the Bruck mill also went very well, the company explained. Production of corrugated base paper at the Golbey plant is scheduled to start in the second half of 2024.
Meanwhile, the damaged PM 6 at the Saugbrugs paper mill will remain out of the SC market throughout 2024, explains Norske Skog. Possible expansion investments in the Saugbrugs mill would result in further insurance payments totalling nkr 615 million.
