Rottneros' Q3 2023 net turnover decreased by 14% to SEK 693 million ($63.5 million), compared to SEK 806 million ($73.9 million) in the Q3 2022. Excluding groundwood pulp, turnover fell by 2%. Compared with the Q2 2023, turnover increased as a result of higher sales volumes of both sulphate pulp and CTMP. Reduced demand on Rottneros’ traditional markets has caused a rise in the proportion of spot sales.
EBIT (operating profit) was SEK 49 million ($4.5 million). The quarter continued to be affected by a weak European market. Variable costs showed a substantial increase over 2022, but have declined compared with the first half of 2023.
Net profit was SEK 33 million ($3 million), compared to SEK 270 ($24.7 million) in the same period last year. Earnings per share for the quarter totalled SEK 0.22.
Lennart Eberleh, President and CEO of Rottneros, said: “In the Q3, our performance was highly satisfactory despite challenging external circumstances, primarily driven by strong volume growth and sound cost management. As a result, we are holding our ground, despite cost inflation and the sluggish market trends of the past year. The pulp market is now displaying clear signals of stabilisation, albeit against a backdrop of significant uncertainty. Our commitment to ongoing efficiency improvements, addressing customer needs and developing long-term growth niches, combined with our strong financial position, provide us with the confidence to ensure the long-term development of Rottneros despite the turbulent global landscape.”
Production was at a very good level. The volume was 88,800 tons, compared with 85,900 tons the year before when excluding groundwood pulp. This represents a 3% increase, which is in line with the long-term target. Production for January– September was 271,600 tons, a 2% increase. Systematic work on operational management and visualisation of critical KPIs has increased availability and productivity.
Rottneros is an independent producer of market pulp.
