The Supervisory Board has also decided to create an Executive Team made up – aside from the CEO and CFO – of people currently serving as members of the Management Board: Wolfgang Lübbert (as Director of Marketing and Strategy), Micha? Sawka (as Director of Sales) and Jacek ?o? (as Director of Procurement), as well as the managing directors of the paper mills: Michael Fejér (Arctic Paper Grycksbo), Göran Lindqvist (Arctic Paper Munkedals) and Henryk Derejczyk (Arctic Paper Kostrzyn).
All of them will also be entitled Executive Vice President of Arctic Paper Group.
Both changes will be effective from 30 May 2017.
Thursday, 20 Apr, 2017
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“One important reason for the positive result was the improvement for the sawmill operations, where the ongoing restructuring process – with a customer and market focus, and the development of new products and services – is progressing according to plan,” said Lars Idermark.
In the Södra Wood business area, earnings rose SEK 96 million to SEK 3 million (loss: 93).
The Södra Cell business area was positively impacted by higher volumes due to expanded capacity at the Värö pulp mill. Earnings were also affected by favourable price levels and a positive trend for the business area’s currencies. Operating profit totalled SEK 457 million (371).
The Södra Skog business area reported operating profit of SEK 16 million (18) for the first quarter.
“Due to the positive trend we have seen since autumn 2016, the second quarter should also be strong. At the same time, our efficiency measures will continue with the aim of further improving profitability. However, there are still a number of geopolitical concerns and our business environment is rapidly changing,” said Lars Idermark.
January-March 2017 in brief: 2017 2016 2016
1 Jan-31 March 1 Jan-31 March 1 Jan-31 Dec
Net sales, SEK million 5,098 4,545 18,482
Operating profit before depreciation, amortisation and impairment (EBITDA), SEK million 761 484 2,101
Operating profit, SEK million 451 249 1,005
Profit before income tax, SEK million 430 233 939
Operating margin, % 9 5 5
Return on capital employed, % 11 7 7
Read the complete report here
See the interview with Lars Idermark
For questions, please contact:
Anna Belfrage, CFO Södra,
Tel: +46 (0)470-890 40
Annica Gerentz, Director of Communications, Södra,
Tel: +46 (0)470-894 81
Tel: +46 (0)470-890 90
WestRock (NYSE:WRK) partners with our customers to provide differentiated paper and packaging solutions that help them win in the marketplace. WestRock’s 36,000 team members support customers around the world from more than 250 operating and business locations spanning North America, South America, Europe and Asia. Learn more at www.westrock.com.
Matt Tractenberg, 470-328-6327
Vice President – Head of Investor Relations
Donna Cox, 470-328-6397
Chief Communications Officer
Earnings before interest, taxes, depreciation and amortization, or EBITDA, was $48.1 million for the first quarter of 2017 compared to $58.9 million for the first quarter of 2016. Adjusted EBITDA for the quarter was $49.3 million, down 17.9% compared to first quarter 2016 Adjusted EBITDA of $60.1 million. The $10.8 million decrease in Adjusted EBITDA was primarily a result of the same higher input costs affecting GAAP net earnings in the first quarter of 2017.
"We achieved solid results in the first quarter of 2017 due to strong demand for both consumer products and paperboard, positive contributions from the Manchester Industries acquisition, and our team's continued smart work and focus," said Linda K. Massman, president and chief executive officer. "This is a significant year for Clearwater Paper as we look forward to completing the final year of our current strategic plan, which includes warehouse automation, the continuous pulp digester in Lewiston, Idaho, and the operational efficiencies that are vital to improving our cost structure. The exciting work on the Shelby, North Carolina plant and warehousing expansion is also underway."
FIRST QUARTER 2017 SEGMENT PERFORMANCE
Net sales in the Consumer Products segment were $242.4 million for the first quarter of 2017, down 1.1% compared to first quarter 2016 net sales of $245.0 million. This decrease was due to lower non-retail sales resulting from the shutdown of two higher cost paper machines at the Neenah, Wisconsin mill, partially offset by a richer product mix that included a 4.9% increase in retail tons sold.
Consumer Products had operating income of $6.2 million in the first quarter of 2017, compared to operating income of $18.4 million in the first quarter of 2016. Adjusted operating income of $12.4 million for the first quarter of 2017 was down from $18.8 million in the same period in 2016, after adjusting for certain non-core items identified in the attached Reconciliation of non-GAAP financial measures. Consumer Products operating margin decreased to 2.6% in the first quarter of 2017 from 7.5% in the 2016 period. The adjusted operating margin decreased from 7.7% in the first quarter of 2016 to 5.1% in the most recent period due to higher input costs for transportation, natural gas and maintenance, partially offset by lower negotiated pulp prices and lower wage and benefit costs resulting from the implementation of warehouse automation, and the previously mentioned shutdown at the Neenah mill. The unplanned outages at the Las Vegas and Shelby facilities and the planned production curtailments at the end of the fourth quarter 2016, both discussed above, unfavorably affected Consumer Products' results for the first quarter of 2017.
Total tissue sales volumes of 95,364 tons in the first quarter of 2017 decreased by 4.0% and converted product cases shipped were 13.1 million, up 1.0%, each compared to the first quarter of 2016.
Average tissue net selling prices increased 3.0% to $2,539 per ton in the first quarter of 2017, compared to the first quarter of 2016.
Pulp and Paperboard
Net sales in the Pulp and Paperboard segment were $195.1 million for the first quarter of 2017, up 1.5% compared to first quarter 2016 net sales of $192.2 million. The increase was primarily due to higher paperboard shipment volume, which includes a full quarter of operations from the Manchester Industries acquisition. Operating income for the quarter decreased $7.9 million to $27.2 million, compared to operating income of $35.2 million for the first quarter of 2016, primarily due to lower paperboard prices and increased costs for energy and supplies, as well as higher depreciation expense.
Paperboard sales volumes increased 4.5% to 210,382 tons in the first quarter of 2017, compared to 201,340 tons in the first quarter of 2016.
Paperboard net selling prices decreased 2.6% to $927 per ton, compared to the first quarter of 2016.
The company's consolidated GAAP tax rate for the first quarter of 2017 was a provision of 40.0%, compared to 38.8% in the first quarter of 2016. The provision for the first quarter of 2017 included the impact of a new accounting standard pertaining to stock-based compensation, which now requires differences between book and tax measures of stock compensation that previously flowed through equity to flow through the income tax provision. On an adjusted basis, the first quarter 2017 tax rate was 38.3%. The company expects its GAAP and adjusted tax rate for 2017 to be approximately 36% plus or minus two percentage points.
Note Regarding Use of Non-GAAP Financial Measures
In this press release, the company presents certain non-GAAP financial information for the first quarters of 2017 and 2016, including EBITDA, Adjusted EBITDA, adjusted net earnings, adjusted net earnings per diluted share, adjusted operating income, adjusted operating margin and adjusted tax rate. Because these amounts are not in accordance with GAAP, reconciliations to net earnings, net earnings per diluted share, operating income and tax rate as determined in accordance with GAAP are included in the tables at the end of this press release. The company presents these non-GAAP amounts because management believes they assist investors and analysts in comparing the company's performance across reporting periods on a consistent basis by excluding items that the company does not believe are indicative of its core operating performance.
Clearwater Paper Corporation will discuss these results during an earnings conference call that begins at 2:00 p.m. Pacific Time today. A live webcast and accompanying supplemental information will be available on the company's website at http://ir.clearwaterpaper.com. A replay of today's conference call will be available on the website at http://ir.clearwaterpaper.com/results.cfm beginning at 5:00 p.m. Pacific Time today.
ABOUT CLEARWATER PAPER
Clearwater Paper manufactures quality consumer tissue, away-from-home tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The company is a premier supplier of private label tissue to major retailers and wholesale distributors, including grocery, drug, mass merchants and discount stores. In addition, the company produces bleached paperboard used by quality-conscious printers and packaging converters, and offers services that include custom sheeting, slitting and cutting. Clearwater Paper's employees build shareholder value by developing strong customer partnerships through quality and service.
[Kimberly-Clark Corporation logo. (PRNewsFoto/Kimberly-Clark Corporation)]
2017 marks the 45th consecutive year that Kimberly-Clark has increased its dividend and the 83rd straight year it has paid a dividend to shareholders.
Kimberly-Clark (NYSE: KMB) and its well-known global brands are an indispensable part of life for people in more than 175 countries. Every day, nearly a quarter of the world's population trust K-C's brands and the solutions they provide to enhance their health, hygiene and well-being. With brands such as Kleenex, Scott, Huggies, Pull-Ups, Kotex and Depend, Kimberly-Clark holds No. 1 or No. 2 share positions in more than 80 countries. To keep up with the latest K-C news and to learn more about the Company's 145-year history of innovation, visit www.kimberly-clark.com or follow us on Facebook or Twitter.
“We must restore the forests and protect the water basins so that the spirit of the water is back with us. Only in this way will the songs of the birds and the sound of the wind through the branches of the trees return to serenade the dawn, and from the lagoons will our spirits emerge to help our doctors heal the earth.”
Hector Jaime Vinasco ex-Governor of the Resguardo and coordinator of the program
Chachafruto, Cedro Negro, Leucaena and Gualanday are only some of the types of trees that have been planted since the beginning of 2016 by the communities of the indigenous reserve Canamomo Lomaprieta in the municipalities of Riosucio and Supia, in Colombia.
The campaign “Plant a tree for the Resguardo” will see 30,000 more trees added to one of the oldest colonial reserves of Colombia. Launched by the Natural Resources Program of the Resguardo, it will both reforest the territory with species of trees lost to the area over time, and inspire community members to take care of the natural resources in the area, and once again use them for their livelihoods. Restoring the original flora of the Resguardo is bringing back memories of traditional practices, and reiterating the importance of their traditional knowledge.
At the time of the Spanish invasion in the 16th century, the ancestral territory of the community, in north west Colombia, exceeded 200,000 hectares. Nowadays, the Resguardo Cañamomo Lomaprieta is just 4,826 hectares in size, for a population of 24,000 people.
High population density has been the main cause of the deforestation in the Resguardo, but the loss of trees has recently resulted in a lack of drinking water, and this is causing serious health problems to the communities. The reforestation program, therefore, is also part of the Resguardo’s attempts to solve the problem.
“In our cosmology there is a natural order," says Carlos Eduardo Gómez Restrepo, ex-Governor of the indigenous reserve Cañamomo Lomaprieta. "Nature shows us where the forest has to be because there is water, where we must respect the sacred sites, where we can plant, where we can build and where we can’t."
The efforts of the communities mean more than 12,786 trees have already been planted and almost 24,000 are in nurseries waiting to be planted.
"Our goal is to establish nurseries in all 32 communities of the reserve in order to produce the necessary forest material," explains Sandra Catagena, a member of the Natural Resources Program. "The different species of trees are decided by the people of the area, some for their properties to protect water springs and others, such as the Chachafruto, because they were traditional species that no longer exist in the territory."
In the nurseries, seedlings of traditional plants are being grown as part of a food sovereignty program. Efren Reyes, ex-Governor of the Resguardo, explains it helps the communities maintain a healthy diet. "Products from the global market have invaded our tables and people no longer consume the traditional products of our land, which are natural and free from chemicals,” he says. “The food sovereignty program and the reforestation campaign can really improve our food and our health."
A fundamental aspect of the campaign is the defence and purification of water springs. The communities have registered 415 springs in the Resguardo and the objective is to conserve them all, planting trees around them to protect them. The communities are establishing protective strips of land around the water sources, marking them with yellow rope, which is done in Colombia to identify protected areas or areas of environmental interest. The trees being planted around the water sources will help protect them from torrential rain and help purify the water.
"It's hard work, it needs a lot of time," says Sandra. "But it is very important that all communities of the reserve are involved. It's a community project."
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“Through the reforestation campaign, the Resguardo is also contributing to carbon sequestration and climate change mitigation,” explains Hector Jaime Vinasco, ex-Governor of the Resguardo. “At the same time, the reforestation increases the biodiversity of the area and improves the communities’ food security in the face of climate change.”RELATED CONTENT Interview with Arnobia Moreno on women and indigenous land rights in Colombia Land Right Now En Minga por la tierra Canamomo Lomaprieta
Indigenous peoples of Colombian Amazon to meet with president on rainforest sustainability and rights
20 April 2017: Between Tuesday the 25th and Friday the 28th of April, 15 leaders, traditional chiefs and representatives of the Uitoto, Muinane, Nonuya and Andoque peoples from de Amazon and Medio Río Caquetá will travel to Bogota to hold meetings with the President of the Republic, the Home Affairs Ministry, and the ambassadors of the United Kingdom, Norway, Germany, among other institutions.
The main objective of the visit is to share local perspectives on actions needed to ensure respect for the fundamental rights of indigenous peoples alongside grassroots solutions for preserving the rainforest, combatting climate change, and achieving sustainable development in the Colombian Amazon, particularly in the light of the commitments made by Colombia in the frame of different international treaties, including intergovernmental agreements on forests and climate change agreed at the COP21 in Paris in December 2015.
During the press conference, indigenous peoples will present their main messages to the government, civil society and the international community. In the press conference, they will present the agenda for their visit, details on topics to be discussed and the objectives for the different meetings that will be held in Bogotá.
Date and time: Bogota, Tuesday 25th of April, 10:00 a.m. Venue: Hotel Grand Park, Room No. 1
Interventions: The press conference will have the participation of leaders, elders and traditional indigenous authorities of the Uitoto, Muinane, Nonuya and Andoque peoples, who self-identify as the “People of the Centre” (la Gente del centro) and guardians and heirs of their “Green Territory of Life” (Territorio Verde de Vida) in the Middle Caquetá and Amazonas regions of Colombia. Participants will include Máximo Aguiteke, Rogelio Mendoza, Eduardo Paki, Nelson Rodríguez, Levy Andoque, Alex Andoque, Hernán Moreno, Blasiney Moreno, Dagoberto Castro, Elizabeth Rodríguez, Aurelio Suarez, Henry Guerrero, Iris Andoque, Kevin Castro y Hernando Castro.
Organisation: Asociación de Autoridades Tradicionales Consejo Regional Indígena del Medio Amazonas (CRIMA)
For more information, please contact:
- Carolina Moreno: communications specialist Email: firstname.lastname@example.org; telephone: 3124725342
- Hernando Castro: Consejo Regional Indígena del Medio Amazonas Email: email@example.com
- Tom Griffiths: Forest Peoples Programme Email: firstname.lastname@example.org
The newly published QS World University Rankings for 2017 shows the strength of EFI’s network as three our member organisations are in the top ten of the Agriculture & Forestry category. Congratulations to Wageningen University for being number one for the second year in a row! In the top ten are also the Swedish University of Agricultural Sciences and AgroParis Tech.
The rankings are based upon academic reputation, employer reputation and research impact. The 2017 QS World University Rankings includes 300 universities, an increase of 100 from last year. More info here.