Stora Enso has revised its full year 2024 adjusted EBIT guidance to be significantly higher (+50% and above) than the full year 2023 of Euro 342 million.
Lower lumber prices and decreased shipments contribute to reduced revenue.
Looking ahead to the second quarter of 2024, company predicts a mild softening of timber prices as weather conditions improve and the availability of raw materials increases.
The era of steep commodity price falls triggered by the pandemic and subsequent recovery phases seems to be concluding.
Key contributors to the quarter's results included the UPM Paso de los Toros pulp mill, which operated at 83% of capacity, and the successful sale of the Steyrermühl site in Austria.
At the end of 2023, the total plywood production capacity in China was about 205 million m3 per year.
Ponsse's operating profit in Euro is estimated to be slightly weaker in 2024 than in 2023 (Euro 47.2).
Government commits to building millions of homes by 2031, aiming to ensure affordable housing for all.
Meanwhile, in the first two months of the year, lumber prices began to increase in the main export markets.
This change is expected to lower the expenses for homeowners selling their properties by potentially reducing the standard commission rates, which have historically been among the highest globally.
This year's event will feature a distinguished roster of 24 speakers from the industry, providing attendees with unparalleled insights from some of the sector's most influential figures.
The company secured four significant mill-sized orders and marked a milestone with the delivery of its inaugural line to the solid wood production segment.
Maryland-based company might proceed with the bankruptcy filing by the end of this week.
Engineered wood products segment shows strength while lumber segment barely breaks even.
The company anticipates global container volume growth of only 2.5%-4.5% in 2024, overshadowed by an 11% increase in shipping capacity.
For the full year 2023, the U.S. economy grew 2.5%, an improvement from the 1.9% increase in 2022.
The rent increases have significantly outstripped income growth; median rents in 2022 were 21% higher than in 2001, while renter incomes rose a mere 2% in the same period.
While lumber prices have been gradually declining, a stabilization in the range of $300-to-$400 per thousand board feet is expected in the near term.
A slowdown in China's real estate and construction sectors, coupled with cold weather, could lead to higher log inventories after the Chinese Lunar New Year.
Towards the end of the year, the average price for lumber rose yet it was still lower than the previous year.