Apr 19, 2024 / 06:30AM GMT
Geir Drangsland - Norske Skog ASA - CEO
Welcome to Norske Skog first quarter 2024 presentation. We continue delivering on our strategy of becoming a leading independent supplier of recycled containerboard in Europe. This will enable us to grow steadily over the next several quarters.
Our net debt increased in the quarter as we are completing our investment in Golbey with net CapEx around NOK400 million, no remaining. In addition, due to a weak NOK, our overall debt increased with around NOK200 million.
Our cash and liquidity position remains strong. Following the quarter, we have received CO2 compensation in Norway of almost NOK280 million and sold around 100,000 CO2 allowances for around NOK90 million. We have also received NOK58 million in refunded cash outlays from insurance settlement and some we have collected more than NOK400 million within the two first weeks of April.
Earnings in the quarter were negatively impacted by deconsolidation of Tasman with NOK46 million and lower CO2 prices with an impact of NOK32 million. We continue to see positive developments in the
Q1 2024 Norske Skog ASA Earnings Call Transcript
Apr 22, 2024
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