Norske Skog ASA
OSE:NSKOG
Norske Skog ASA
Norske Skog ASA engages in manufacturing, distributing and sale of publication paper. The company is headquartered in Oslo, Oslo. The company went IPO on 2019-10-18. Norske Skog ASA operates as a Holding Company for the Norske Skog Group. The Company’s objective is to conduct wood processing industry, investing activities and activities related to this, as well as providing headquarter services for the Group, including raise of external loans and conducting group financing arrangements. The Group’s operations are divided into two operating segments: Paper Europe and Publication Paper Australasia. Norske Skog ASA has several subsidiaries, including Norske Skog Bruck GmbH, Norske Skog Golbey SAS, Norske Skog Industries Australia Ltd as well as Norske Skog Saugbrugs AS.
Norske Skog ASA engages in manufacturing, distributing and sale of publication paper. The company is headquartered in Oslo, Oslo. The company went IPO on 2019-10-18. Norske Skog ASA operates as a Holding Company for the Norske Skog Group. The Company’s objective is to conduct wood processing industry, investing activities and activities related to this, as well as providing headquarter services for the Group, including raise of external loans and conducting group financing arrangements. The Group’s operations are divided into two operating segments: Paper Europe and Publication Paper Australasia. Norske Skog ASA has several subsidiaries, including Norske Skog Bruck GmbH, Norske Skog Golbey SAS, Norske Skog Industries Australia Ltd as well as Norske Skog Saugbrugs AS.
Profitability: EBITDA for Q4 was NOK 13 million, with full-year pretax profit at NOK 354 million. Profitability in the Containerboard segment was pressured by low-priced trial volumes and higher exports.
Liquidity: Year-end cash position strengthened to NOK 1.1 billion, supported by a new NOK 400 million loan facility. Management expressed confidence in liquidity through 2026.
Project Ramp-up: Golbey PM1 is ramping up, with record recycled containerboard deliveries, but currently running below optimal utilization. Full utilization is targeted for H1 2027.
Market Share: The company increased its market share in European publication paper, outperforming the declining industry.
Cost Initiatives: Several initiatives are underway to reduce both fixed and variable costs across all mills, with a continued focus on improving profitability.
Guidance: Better margins are expected in 2026 for containerboard as contract volumes and European sales rise. No significant working capital build-up is expected from Golbey's ramp-up.
