Economists have cautioned against viewing rising retail sales as a turning point, emphasizing the need for sustained income growth and an improving housing market to boost long-term consumption.
Despite near-to-mid-term pressures, the company remains optimistic about the long-term prospects, citing persistent underlying demand for housing in North America.
In recent years, Swedish sawmills have significantly diversified their export markets, notably increasing shipments to the U.S.
The company's order book remained near a record-high level.
Company expects another quarter with squeezed margins, with the possibility of raw material price reductions during the winter.
With limited opportunities for Canada to increase lumber production, European sawmills will likely remain essential suppliers for the US wood market in the coming decade.
The advanced economies are anticipated to experience a slowdown to 1.4% in 2024.
Recent reports from the International Monetary Fund (IMF) have sounded alarms over China's escalating risk of a financial crisis.
Mass timber continues to be of interest to investors, and carbon storage and sequestration also remain key drivers.
As the structure of the order backlog is weighted towards mill-sized delivery projects, revenue recognition takes place later than in equipment deliveries and service business.
The company’s Euro-denominated operating profit in 2023 is expected to be on a par with the operating profit of its continuing operations in 2022 (Euro 46.6 million).
The expected EBIT for the fiscal year 2023 is now in the range of Euro 5 to 15 million. EBIT adjusted (adjusted for exceptional expenses) is expected to be in the range of Euro 35 to 45 million.
Kemira's revenue is expected to be between Euro 3,200 million and Euro 3,700 million in 2023 (2022: Euro 3,569.6 million).
For the first time since March, the purchasing managers' index topped the 50 mark that separates growth from contraction.
This year's felling in Swedish forests is expected to be lower in comparison to record levels of felling in 2021 and 2022.
The Lenzing Group is adjusting its forecast for earnings development and is assuming EBITDA in a range of Euro 270 million to Euro 330 million for the 2023 financial year.
However, securing an adequate supply of raw materials poses a significant challenge. The most substantial hurdle lies in Götaland, already grappling with a severe wood shortage.