Botnia reported 3Q operating result of Euro 281 million

Nov 02, 2010. /Lesprom Network/. Botnia's sales in January-September 2010 increased by more than 60% year-over-year, amounting to Euro 1,000 million. The operating result excluding non-recurring items totalled Euro 281 million. The considerable improvement in sales and operating result compared with the previous year came about from the market picking up and the pulp price rising steeply. Botnia's sales volumes were up 8% year-over-year, company said in a statement received by Lesprom Network. Foreign-currency-denominated market prices for softwood pulp were, on average, 48% higher compared with the corresponding period last year. The average prices of hardwood pulp increased by 60%. Pulp prices decreased slightly in the 3Q, following the steady rise during the first half of the year. At the beginning of July, softwood pulp was selling at $980 per tonne and at the end of September, at $970 per tonne. The corresponding figures for hardwood pulp were $920 and $870. The utilisation rate of Botnia's mills in the 3Q was very good. The Äänekoski and Rauma mills, among others, set new monthly production records in August. The 3Q sales were Euro 344 million compared to Euro 219 million in 3Q 2009, and the operating result excluding non-recurring items was Euro115 million. The operating result represented 33% of sales. The annual maintenance shutdown of the Kemi plant was carried out in September with a corresponding shutdown at the Rauma mill in October.