Svenska Cellulosa slips after Q2 EBITDA miss
** Shares in Svenska Cellulosa (SCA) SCAb.ST fall 5.5% after the Swedish forestry firm posted lower-than-expected Q2 profits
** It books its quarterly EBITDA at 1.89 billion Swedish crowns ($175 million) against 1.95 billion crowns seen in an LSEG poll of analysts
** Jefferies analysts see 5-10% downside risk to consensus on 2024 EBITDA and cuts of around 10% to EBITDA estimates for 2025
** Jefferies notes a miss in SCA's renewable energy business, which was hit by lower energy prices, weak biofuels market
** However, J.P. Morgan analysts say results in the container board business was "the most disappointing" as the unit's EBIT in the quarter came 68% below the broker's estimates
** "We see this as a slight negative read for Corrugated producers (Mondi MNDI.L, Smurfit WestRock SWR.L) given the light volume print", J.P. Morgan says
** SCA shares wipe away year-to-date gains and are among bottom stocks on STOXX 600 .STOXX
($1 = 10.8113 Swedish crowns)
Reporting by Boleslaw Lasocki
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
