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The PM40 closed 16 August 2024 up 10.5% from the 18 August 2023 level.

In this issue of Disconnected Comparisons, we evaluate Boise Cascade and Clearwater Paper.

Adjusted EBITDA totaled R$6.3 billion, a 60% increase on 2Q23, reflecting higher pulp prices, favorable FX rates, increased sales volume, and reduced production costs compared to the same period last year. Operating cash generation totaled R$4.5 billion, the strongest quarterly result since 1Q23, and net revenue came to R$11.5 billion, the strongest quarterly result since 4Q22.

Pulp and paper producer says underlying profitability remains steady despite the third quarter being seasonally the weakest.

Continued strong demand in tissue, improved demand in paperboard.

Net loss was USD 0.077747 million compared to USD 1.25 million a year ago. Basic loss per share from continuing operations was USD 0.008 compared to USD 0.12 a year ago. Diluted loss per share from continuing operations was USD 0.008 compared to USD 0.12 a year ago.

Interfor Corporation recorded a net loss in Q2 2024 of $75.8 million, or $1.47 per share, compared to a net loss of $72.9 million, or $1.42 per share in Q1 2024 and a net loss of $14.1 million, or $0.27 per share in Q2 2023.

Mercer International Inc., a prominent player in the pulp and lumber industry, reported mixed results for the second quarter of 2024. The company's EBITDA saw a significant decrease to $30 million from $64 million in the previous quarter, primarily due to planned maintenance at two of its mills.

Glatfelter Corporation incurred a second-quarter 2024 earnings per share (EPS) loss of 35 cents from continuing operations, narrower than a loss of 82 cents per share in the prior-year quarter.

In the second quarter, price and mix were favorable and input costs largely remained stable compared to last quarter.

Hugues Simon, who took over as president and chief executive in June, forecast third-quarter results would be stronger sequentially, driven by improved containerboard results as price increases are implemented and production efficiency levels are normalized following planned maintenance in the recent quarter as well as an unplanned extended downtime at the Bear Island and Greenpac operations.

July marked the two-year anniversary of the merger of SWM and Neenah to create Mativ.

For the six months, net income was USD 3.3 million compared to USD 27.3 million a year ago.

The quarterly earnings were $160 million or $2.23 per share, while the company reported loss of $20 million a year ago. On an adjusted basis, earnings were $2.09 per share.

ANDRITZ has provided key equipment for a new hardwood Neutral Sulfite Semi-Chemical (NSSC) production line and for a woodyard upgrade to packaging and paper producer Mondi at its containerboard mill in Kuopio, Finland.

Procemex, a new Andritz Group member has received an order from the Swedish paper mill SCA Obbola to supply OnePlatform Web Monitoring & Inspection System for their PM2, the world's largest high quality kraftliner machine.

The new equipment is estimated to be taken into operation by the end of 2026.

Spinnova Plc and Valmet have signed a Partnership Agreement. According to the agreement, Spinnova has appointed Valmet as the exclusive partner to supply process equipment to Spinnova's technology customers. The exclusivity is limited in time and scope and includes an exclusivity fee based on realized project deliveries. Spinnova does not expect this to have a material impact on its 2024 financials.

Vanessa Hellwing has been appointed to the ANDRITZ AG Executive Board as of January 1, 2025. She will succeed Norbert Nettesheim as Chief Financial Officer (CFO) on March 28, 2025.

When fully operational, it will be the world's largest single-line eucalyptus pulp mill with an annual production capacity of 2.55 million tons.

Vanessa Hellwing has been appointed to the ANDRITZ AG Executive Board as of January 1, 2025. She will succeed Norbert Nettesheim as Chief Financial Officer (CFO) on March 28, 2025.

The U.S. Department of Commerce announced the final determination of a combined anti-subsidy and anti-dumping duty rate of 14.54% in the fifth annual review of unfairly traded Canadian softwood lumber imports into the United States.

The U.S. Department of Agriculture's Forest Service announces a $25 million funding opportunity to reduce wildfire risk and support local businesses. The hazardous fuels transportation assistance program aims to remove hazardous fuels from national forests, expanding market opportunities and supporting local jobs. More details can be found on the Forest Service website.

The Washington Department of Ecology issued two penalties totaling $145,000 to Weyerhaeuser for stormwater violations at the company's Longview lumber mill.

ISN expands support of paper and packing companies worldwide through new partnership with global leader in ​​sustainable packaging.