Q2 2026 Rottneros AB Earnings Call Transcript
Key Points
- EBITDA turned positive at SEK 31 million in Q2 2026, a significant improvement from the negative results in previous quarters.
- Wood prices have decreased by approximately 20% from their peak, leading to lower variable costs and improved profitability.
- The company has successfully reduced fixed costs through a savings program, including a reduction in personnel from 288 to 266 employees.
- Demand remains stable in prioritized niches such as electrotechnical filters and tissue, with a strong market position in Europe.
- The weaker Swedish krona against the US dollar has provided a favorable currency effect on sales.
- NBSK pulp prices in USD are 9% lower year-over-year, and the dollar weakened by 3%, negatively impacting revenue.
- Global producer stocks of bleached softwood pulp are high at 46 days, indicating ample supply and potential pricing pressure.
- Paper production in Europe continues to decline, with a 2.5% drop in 2025 and further decreases in 2026, affecting demand.
- The company sold emission allowances last year but not this year, creating a negative comparison in other income.
- Working capital increased due to inventory buildup ahead of planned maintenance shutdowns, leading to a negative operating cash flow of SEK -81 million in the first half of 2026.
Hello. Welcome to today's broadcast with Rottneros, who will be presenting their financial report for the second quarter of 2026. With us, we have the CEO, Per Bjurbom, and CFO, Monica Pasanen. (Operator Instructions) I hand it over to you guys. Go ahead and present.
Thank you, Elliot. I would like to wish you all welcome to this Q2 report for Rottneros. Myself, Per Bjurbom, CEO. I will start to make a presentation of the highlights and the market. Then I will turn the word over to Monica. I will present the financials. Then I will wrap up at the end. Then we are open for Q&As. We move on to the highlights for Q2. As you may be all aware of, we are coming out of a streak of quarters where we have been on the negative side on EBITDA number, and we are very pleased to see that we are showing up an EBITDA of 31 million SEK. Also a theme during the quarters is the wood pricing.
The wood pricing has come down as we have anticipated earlier quarters. We are happy to see that materialize in
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