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Svenska Cellulosa Aktiebolaget SCA (publ) (SVCBF) Q3 2023 Earnings Call Transcript

Svenska Cellulosa Aktiebolaget SCA (publ) (OTCPK:SVCBF) Q3 2023 Earnings Conference Call October 27, 2023 4:00 AM ET

Company Participants

Ulf Larsson – President and Chief Executive Officer

Andreas Ewertz – Chief Financial Officer

Conference Call Participants

Charlie Muir-Sands – BNP Paribas

Johannes Grunselius – DNB Markets

Martin Melbye – ABG

Oskar Lindström – Danske Bank

Linus Larsson – SEB

Christian Kopfer – Handelsbanken

Cole Hathorn – Jefferies

Alexander Vilval – Pareto

Andrew Jones – UBS

Operator

Good morning and welcome to this presentation of SCA’s Interim Report Presentation for the Third Quarter of 2023. With me here today, I have CEO and President, Ulf Larsson; and CFO, Andreas Ewertz. Now over to you, Ulf.

Ulf Larsson

Thank you, Anders, and also from my side a good morning and welcome to the presentation of SCA’s result for the third quarter 2023. So when I summarize the quarter, I can state that we have delivered a stable result with a strong cash flow, not least driven by a profitable growth in renewable energy, a stable performance in forest, but also resilience against cost inflation. And that that is of course partly due to our high degree of self-sufficiency in our wood and energy supply, but also in logistics. We see a stabilizing demand in the market for our products. Prices for solid wood products decreased as expected during the third quarter, but will as an average remain on current level also in the fourth quarter. Containerboard prices have been flat since May this year, while prices for pulp have bottomed and started to increase also as expected.

EBITDA decreased in comparison with its third quarter last year, but reached SEK1.4 billion and by that a healthy EBITDA margin of 33%. So when I compare the third quarter this year with the third quarter last

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