Rottneros AB (publ) gives an update on the pulp wood situation and corrects an error in the interim report January-June 2018
As reported in the Rottneros interim report January-June 2018, the supply of pulp wood has been negatively impacted by the extreme weather and subsequent drought in Sweden. Rottneros has increased the import volumes to its pulp mills through its subsidiary SIA Rottneros Baltic in Latvia, in order to minimise the effects on pulp deliveries to its customers. The import from the Baltics is certified for traceability and Rottneros has control over the origin of the pulp wood.
Rottneros is working continuously with its suppliers to secure the supply of pulp wood and to estimate the potential consequences.
Correction of the results analysis regarding the increased cost of pulp wood, published on page 6 of the interim report January-June 2018
The cost of imported pulp wood is currently significantly higher than the cost of pulp wood that is sourced locally. The total cost increase for pulp wood (including both local and imported wood) was some SEK 60m in January-June 2018, as compared with January-June 2017, and not SEK 40m as was mistakenly stated in the results analysis on page 6 of the interim report January-June 2018. The correction of the text has no impact on the reported results. The correct version of the interim report is attached to this press release and is also available on the Rottneros website.
For more information, please contact:
Lennart Eberleh, President and CEO Rottneros AB, +46 270 622 65
Monica Pasanen, CFO Rottneros AB, +46 270 622 70
This information is information that Rottneros AB is obliged to publish under the Securities Market Act. The information was submitted for publication, through the agency of the contact persons set out above, at 08:00 CET on 13 August 2018.
Rottneros is an independent producer of market pulp. The Group comprises the parent company Rottneros AB, listed on NASDAQ Stockholm, and its subsidiaries Rottneros Bruk AB and Vallviks Bruk AB with operations involving the production and sale of market pulp. The Group also includes Rottneros Packaging AB, which manufactures fibre trays, and the wood procurement company Rottneros Baltic SIA in Latvia. The Group has about 300 employees and had a turnover of approximately SEK 1.9 billion in the 2017 financial year.