Q2 2026 Svenska Cellulosa Aktiebolaget SCA Earnings Call Transcript
Key Points
- Svenska Cellulosa AB (SVCBF) achieved a record result in the renewable energy segment, driven by high margins in liquid biofuels.
- The company reported an EBITDA of SEK1.3 billion, corresponding to a 25% EBITDA margin for the second quarter.
- Price increases in the container board segment are expected to positively impact results in the second half of the year.
- The company has a stable land lease business, contributing to 20% of installed wind power capacity in Sweden.
- Svenska Cellulosa AB (SVCBF) is focusing on cash flow and has nearly finalized its large ongoing investment projects, which could lead to improved financial stability.
- The pulp and solid wood products segments faced challenging market conditions with weak demand.
- High fuel prices negatively impacted the forest and industry segments, increasing costs.
- Sales in the pulp segment decreased by 3% year-over-year, with EBITDA down 59% due to lower prices and negative currency effects.
- The container board segment experienced a 70% decrease in EBITDA, affected by a planned maintenance stop and higher energy costs.
- Net sales decreased by 4% to SEK5.15 billion, driven by lower prices and negative currency effects.
Good morning and welcome to this presentation of SCA's 2026 half-year and second-quarter report.
With me here today, I have President and CEO Ulf Larsson; and CFO Andreas Ewertz to go through the results and take your questions. Over to you, Ulf.
Thank you, Anders. Good morning. And also from my side, a warm welcome to the presentation of our results for the second quarter. During the second quarter, SCA's market conditions were mixed between the segments. Pulp and solid wood products faced a continued challenging market with weak demand, while renewable energy delivered a record result.
During the quarter, we saw improvements in both demand and pricing for the containable segment. Price increases will impact our results for Q3 and Q4. High fuel prices driven by the conflict in the Middle East affected the result within the forest and industry segments negatively, while the liquid biofuels business within segment renewable energy benefited in terms
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