Displaying items by tag: Rottneros

Tuesday, 01 December 2015 00:48

Rottneros wins prize for best annual report

rott logo ppwRottneros has been awarded for the best annual report in 2014 in the category Small Cap. The award is handed out by NASDAQ, the professional institute for authorized public accountants FAR, the Swedish Society of Financial Analysts, and the Swedish Association of Communication Professionals.

The prize for "Best Annual Report" has been awarded since 1965, and this year over 200 listed companies' annual reports competed.

The jury’s motivation: "Rottneros concise and well-written texts, relevant image selection and charts as well as educational illustrations. An annual report that would get by very well in comparison with those of large companies.”

"This award clearly shows the quality of our annual report, which of course we are very proud of. We have initiated an improvement program within the Rottneros Group and one part of it has been to develop our external communication. The award indicates that our efforts paid off,” says Krister Lindgren, CFO of Rottneros.

"One important goal has been to make the annual report accessible to a wider audience. Through close cooperation with Oxenstierna & Partners, we have managed to create an annual report that targets a broader group," says Krister Lindgren.

The prize for best annual report was awarded to Rottneros at Finforum arranged by NASDAQ, the professional institute for authorized public accountants FAR, the Swedish Society of Financial Analysts, and the Swedish Association of Communication Professionals.

For further information, please contact:

Krister Lindgren, acting CFO Rottneros AB, +46 72 715 06 50

Rottneros is an independent producer of market pulp. The Group comprises the parent company Rottneros AB, listed on NASDAQ Stockholm, and its subsidiaries Rottneros Bruk AB and Vallviks Bruk AB with operations involving the production and sale of market pulp. The Group also includes the wood procurement company Rottneros Baltic SIA in Latvia. The Group has around 250 employees and had a turnover of approximately SEK 1.5 billion in the 2014 financial year.

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rott logo ppwAfter extensive development the Swedish pulp manufacturer Rottneros Group now launches its new, improved High Yield Pulp, Opacity Extreme, for thin packaging and printing paper, as well as special applications. In addition to an extremely high opacity the product, produced at the mill Rottneros Bruk, also has excellent strength properties and high purity.

When it comes to thin packaging and printing papers, as well as a number of special applications, the opacity is critical. Low light transmission is required, for example, to ensure that prints will not be seen through the paper sheet. Similarly, the purity of the pulp, the so-called low shives content, is important in the manufacturing of thin paper.
 
The development of Opacity Extreme has been a team effort within Rottneros Bruk, where Fredrik Danielsson, technical sales manager, has been responsible for the development. Danielsson says Opacity Extreme with its combination of excellent strength properties, high purity and superior opacity is the leading product in the market for thin paper.
 
Olle Dahlin, CEO of Rottneros Bruk, says that the company now, with the launch of Opacity Extreme, has a very complete and competitive product range for High Yield Pulp, which includes everything from board and tissue to thin packaging and printing paper.
 
This launch further strengthens the Rottneros Group’s offer. It is another step within the framework of the Group’s strategy to position the two mills, Vallviks Bruk and Rottneros Bruk, towards a high share of specialized pulp.
 
For further information, please contact: Olle Dahlin, CEO Rottneros Bruk AB +46 70 366 73 00

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  • Income after net financial items amounted to SEK 75 (31) million for the second quarter of 2015 and SEK 177 (50) for the six-month period, our best six-month performance in the current structure.
  • Net turnover for the second quarter totalled SEK 456 (394) million, a 16% increase compared with 2014.
  • Production volumes increased by 9% compared with the second quarter of 2014.
  • The PIX price in USD declined during the second quarter and amounted to an average of USD 855. Denominated in SEK, the price decrease was 5% compared with the first quarter. Compared with the second quarter of 2014, the price increase in SEK was about 19%.
  • Cash flow before investments for the second quarter of 2015 was strong at SEK 116 (-3) million and SEK 278 million on a rolling 12-month basis, compared with SEK 104 million for full-year 2014. Interest-bearing net receivables as of 30 June amounted to SEK 165 (-42) million.

Comments by the president

rott logo ppwThe second quarter remained strong for the Rottneros Group. Profit after net financial items was SEK 75 million, an improvement of SEK 44 million compared with the same quarter in 2014. As in the first quarter, the improvement was mainly driven by both currencies and the pulp market moving in the right direction in relation to the corresponding quarter in 2014. Increased sales and production were also important factors. Both plants delivered good profitability and substantial improvements in earnings.

The higher volumes can be explained by the higher availability in production, especially at Rottneros Mill. This clearly shows the results of our determined efforts towards higher production volumes that we have conducted over the past year. Compared with the corresponding quarter last year, production increased by 9 per cent for the Group. At Rottneros Mill, volume increased an impressive 16 per cent, driven by a sharp upswing in groundwood pulp.

In general, customer demand for our grades of pulp remains stable. However, we have experienced continued pressure on prices during the quarter, mainly driven by an increased supply on the market. Translated into SEK, prices continue to be high, thanks to the weakening of the SEK against the USD.

Absorption Express, the high yield pulp for absorbing fluids, which we launched last fall, continues to exceed our expectations with respect to demand. During the quarter, we carried out yet another successful product launch, Bulk Booster, Rottneros’ newly developed high-yield pulp for cardboard. It increases the bulk or thickness more than other available raw materials, increased bending stiffness is a quality that is crucial for many carton applications.

During the first half of the year Rottneros’ Board of Directors decided on the first investments, for a total of SEK 180 million, to kick off our long-term industrial plan, Agenda 500. The plan is to increase the capacity of the Group through successive investments to eliminate the bottlenecks in the two mills. Investments are planned in renewed production equipment as well as in a stronger organisation. The long-term goal is to expand Rottneros’ total capacity to reach a business volume of at least 460.000 tonnes of pulp per year, compared with the 345,000 tonnes produced last year. The total plan is about SEK 800 million for Agenda 500 in full, divided into about SEK 400 million in the medium term and SEK 400 million in the longer term. Compared with investment levels for increased capacity per tonne found in the international paper industry, Rottneros’ investments are highly competitive. The pace of the investments will be determined by Rottneros’ ability to allocate the increased volumes in the market.

We continue to have a good starting position for the future. The strong dollar more than compensates for the negative price trend. Our highly motivated employees are working intensively to expand our business towards higher volumes and thus more efficient production. I look forward to the coming year and the strategic steps that we will take.

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rott logo ppwSwedish pulp manufacturer Rottneros newly developed High Yield Pulp for carton board, Bulk Booster, has been well received at several major board manufacturers. The product is already used in the commercial manufacturing of board qualities for packaging, and in a number of specialty applications.

Carton board is a generic name for thick paper qualities used for the production of carton board for packaging of food or other products and in graphic contexts. Carton board is made from either recycled fiber or virgin fiber pulp.

Bulk Booster has been developed by Rottneros Bruk during the last year, and has been tested at full commercial scale at several carton board manufacturers. The product is a High Yield Pulp, which is produced in Rottneros Bruk's unique production lines.

Bulk Booster’s special feature is the increases of the bulk or thickness of the carton, in this aspect it is superior to other available products. This means that you get a thicker board for the same weight of raw material in the manufacturing process. This has significant advantages when it comes to optimizing production economy in carton board production. A moderate mixing with Bulk Booster can increase the bending stiffness in carton board with up to 30 percent, says Olle Dahlin, CEO at Rottneros Bruk who has visited many customers during the development period.

Development of Bulk Booster from idea to commercial success has been a team effort within Rottneros Bruk and has involved a large part of the staff. Fredrik Danielsson, technical sales manager and Nils Hauri, production manager, who has led the development believes that the interest that carton board manufacturers demonstrated during the project, shows there is a great need for Bulk booster on the market.

Rottneros CEO Per Lundeen says that the two mills in Rottneros Group, Vallviks Bruk and Rottneros Bruk, with their specialized pulp has been successful in its market positioning towards more and more specialized products used in paper production for non-graphic products.

For further information please contact:

Olle Dahlin, VD Rottneros Bruk AB +46703667300

 

 

 

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Adoption of income statements and balance sheets

The AGM adopted the income statements and the balance sheets for the parent company and the Group for the financial year 2014.

Dividend

The AGM adopted the Board’s proposal of an ordinary dividend of SEK 0,20 per share and an extraordinary dividend due to the liquidity injection in connection with the sale of the Utansjö facility (Utsjöanläggningen) of SEK 0,20 per share (in total SEK 0,40) for the financial year 2014.

Discharge from liability

The AGM granted Board members as well as CEOs a discharge from liability for the financial year 2014.

Board

rott logo ppwThe AGM decided in accordance with the proposal of the Nominating Committee that the number of Board members elected shall without change be four and re-elected the Board members Roger Asserståhl, Rune Ingvarsson and Per Skoglund. Marie S. Arwidson was new-elected. Rune Ingvarsson was re-elected as Chair of the Board.

Marie S. Arwidson was born in 1951 and has a Bachelor in Business Administration from the Stockholm School of Economics. Marie is chairman of the board of Andra AP-fonden and board member of IVA, The Royal Swedish Academy of Engineering Sciences. She possesses long and extensive experience from the pulp & paper industry, most recently as managing director of Skogsindustrierna. Marie has additionally worked with the Swedish Pulp and Paper Association, comprising a position as Vice President International, focusing on EU matters, as well as managing director at CEPI, Confederation of European Paper Industries in Brussels, where she represented the European paper industry in relation to the European institutions.

Fees for the Board members

The AGM decided in accordance with the proposal of the Nominating Committee that the fees shall be SEK 550,000 to the Chair of the Board and SEK 275,000 to each of the other Board members. Furthermore, the AGM decided that the employee representatives shall receive a fee of SEK 27,500 per person for the time required to read materials ahead of meetings.   

Auditors

The AGM decided in accordance with the proposal of the Nominating Committee that the company shall have a chartered auditing firm as auditor and re-elected Ernst & Young Aktiebolag until the end of the 2016 AGM. The authorized public accountant, Erik Sandström, shall be the auditor in charge until further notice. Auditors’ fees shall be paid based on an invoice approved by the CEO.

The Nominating Committee ahead of the 2016 AGM

The AGM approved the Nominating Committee’s proposed procedure for appointing members of the Nominating Committee ahead of the 2016 AGM.

Guidelines for remuneration of senior executives 

The AGM approved the guidelines for the remuneration of senior executives in accordance with the Board’s proposal.

Amendment of the Articles of Association

The AGM resolved in accordance with the Board’s proposal to amend the company’s Articles of Association in such a way that the AGM of Rottneros AB no longer may be held in Gävle or Vallvik.

Complete proposals and decisions

The AGM approved all of the proposals presented by the Board and the Nominating Committee. The proposals are available in the previous published notice to attend the AGM and the decisions in the minutes of the AGM, which will be published at the company’s website.

Rottneros is an independent producer of market pulp. The Group comprises the parent company Rottneros AB, listed on NASDAQ Stockholm, and its subsidiaries Rottneros Bruk AB and Vallviks Bruk AB with operations involving the production and sale of market pulp. The Group also includes the wood procurement company Rottneros Baltic SIA in Latvia. The Group has around 250 employees and had a turnover of approximately SEK 1.5 billion in the 2014 financial year.

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The Rottneros Board has decided to make the first investments of 180 MSEK to increase production capacity at both the Group mills, Vallvik Mill and Rottneros Mill, to ensure continuous progress and growth.

This means that the new plan prepared by management, Agenda 500, starts immediately. Agenda 500 is a long-term industrial plan to increase the capacity of the Group through successive investments. Investments are made in renewed production equipment and organization to increase capacity and eliminate bottlenecks in the two mills.

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The long-term objective is to expand Rottneros’ total capacity to reach a business volume of at least 460,000 tons of pulp annually, compared to the 345,000 tonnes produced last year. The rate of the investments will be determined by Rottneros’ ability to allocate the increased volumes in the market.

The total framework amounts to around SEK 800 million for the whole Agenda 500 divided into SEK 400 million medium-term and SEK 400 million in the longer term.

“We are very pleased with the positive development within Rottneros and the implementation of Fokus 15. Agenda 500 builds on our successful focus on high-quality pulp and we look to the future with great confidence”, says Chairman Rune Ingvarsson.

Rottneros’ CEO Per Lundeen, who together with the management teams at the two mills has developed Agenda 500, is convinced that the operations will gain significantly from continued investment and development of the niche strategy.

"The Vallvik Mill and Rottneros Mill produce high quality and specialized pulp and they have been very successful with their market positioning towards more and more specialty products. The success of our specialty products has created resources and given us the courage to take this step and thus secure the future of the Rottneros Group and the two mills." says Per Lundeen.

For further information, please contact: Per Lundeen, CEO Rottneros AB, +46705183347

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Wednesday, 13 May 2015 08:27

Rottneros Interim Report Jan - March 2015

rott logo ppwThe first quarter was strong for the Rottneros Group due to a number of positive factors. Profit after net financial items was SEK 103 million, an improvement of SEK 83 million compared with the same quarter in 2014. Currencies and the pulp market were the main drivers of the favourable earnings trend compared with the first quarter last year, but our internal improvement programme continued to deliver results to produce a substantial boost to earnings. A large portion of the improvement in earnings is attributable to increased sales and production in particular. We are also extremely pleased to see that both plants are delivering good profitability and substantial improvements in earnings.

  • Profit after net financial items amounted to SEK 103 (20) million for the first quarter of 2015, our best quarterly performance in the current structure.
  • Net turnover for the first quarter is SEK 454 (380) million, a 19% increase.
  • Production volumes increased by 10% compared with the first quarter of 2014.
  • The PIX price in USD declined during the first quarter and amounted to an average of USD 907. In Swedish kronor the price rose nine per cent compared with the fourth quarter in 2014 due to the favourable trend for the USD. Compared with the first quarter of 2014, the price increase in SEK is about 28%.
  • Cash flow from operating activities amounted to SEK 64 (9) million for the first quarter of 2015 and SEK 159 million on a rolling 12-month basis, compared with SEK 104 million for the full year 2014. Interest-bearing receivables as of 31 March were SEK 116 (-25) million.

Customer demand for our grades of pulp is stable. However, we have seen some pressure on prices during the quarter, mainly driven by an increased supply. Translated into SEK, prices continue to be high thanks to the appreciation of the USD.

Several planned measures to improve availability were carried out during the autumn maintenance shutdown at our mills were carried out during the autumn maintenance shutdown at our mills, resulting in higher production volumes during the first quarter. Compared with the corresponding quarter last year, production increased by 10 per cent for the Group. Rottneros Mill was the strongest performer here, with an impressive 19 per cent increase in volume.

I am glad that the Board of Directors of Rottneros has decided to approve the first investments of approximately SEK 180 million to launch Agenda 500, which is a long-term industrial plan to increase the capacity of the Group through gradual investments. We are investing in renewing production equipment and the organisation to increase capacity and building out to ease the bottlenecks in the two mills. The total plan is about SEK 800 million for Agenda 500 in full, divided into about SEK 400 million in the medium term and SEK 400 million in the longer term. The pace of the investments will be determined by Rottneros’ ability to allocate the increased volumes in the market.

We have a strong starting position for the rest of 2015. A weakly negative price trend has been offset by the continued strong USD. Our dedicated employees are working hard to run and develop the business in order to gradually increase volumes and achieve more efficient production. I look forward to the coming year and the strategically important development steps that we have now begun to implement.

Per Lundeen

(For complete interim report see attached file)

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rott logo ppwThe nomination committee in Rottneros proposes Marie S. Arwidson to be elected as board member at the annual general meeting 2015. The nomination committee additionally proposes the re-election of the board members Roger Asserståhl, Rune Ingvarsson and Per Skoglund with Rune Ingvarsson as the board’s chairman. Per Lundeen, who was appointed as managing director of Rottneros AB on 6th November 2014, is not, therefore, proposed for re-election as a board member.

Marie S. Arwidson was born in 1951 and has a Bachelor in Business Administration from the Stockholm School of Economics. Marie is chairman of the board of Andra AP-fonden and board member of IVA, The Royal Swedish Academy of Engineering Sciences. She possesses long and extensive experience from the pulp & paper industry, most recently as managing director of Skogsindustrierna. Marie has aditionally worked with the Swedish Pulp and Paper Association, comprising a position as Vice President International, focusing on EU matters, as well as managing director at CEPI, Confederation of European Paper Industries in Brussels, where she represented the European paper industry in relation to the European institutions.

For information regarding other proposed board member re-elections, see www.rottneros.com.

The nomination committee consists of Roger Mattsson (Arctic Paper S.A), Stefan Sundh (PROAD AB) and Rune Ingvarsson (chairman of the board at Rottneros AB).

The nomination committee’s other proposals are presented in the notice of the annual general meeting which takes place on Wednesday 20th May 2015 at 14.00 at the World Trade Center Stockholm, Kungsbron 1, the Manhattan room, in Stockholm.

For further information please contact:

Roger Mattsson (Chair of the Nominating Committee), mobile +46 76-175 77 41

Rune Ingvarsson, (Chair of the Board), mobile +46 70 288 79 76

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rott logo ppwThe newly developed High Yield Pulp by Swedish pulp producer Rottneros, Absorption Express got a very good reception at London Pulp Week the other week. This was the perfect opportunity to meet the World market with a new product when the World’s paper industry was present.

Tissue is a collection name for paper qualities used for paper napkins, kitchen towels and toilet paper. This area has a fast growing demand.

Absorption Express has been developed by Rottneros Bruk during last year and has been tested in full commercial scale at a number of paper mills. The product is a High Yield Pulp produced in one of Rottneros unique production lines.

The good thing about Absorption Express is that the product replaces much more expensive pulp in the production of tissue. At the same time it has twice the absorption capacity and twice the absorption speed and has an excellent bulk in relation to the pulps it replaces, says Olle Dahlin, Managing Director of the plant Rottneros Bruk.

The development of Absorption Express from idea to commercial success has been a team effort within Rottneros Bruk involving large parts of the work force. Nils Hauri, the production manager thinks the development routines at Rottneros gives a very good potential for further development and invention of new products and customer customized pulp.

The new Rottneros Group CEO, Per Lundeen, who was also present in London says that both the mills of the Rottneros Group, Rottneros Bruk and Vallviks Bruk have been very successful with their market positioning with highly specialized pulp.

For further information please contact: Olle Dahlin, Managing Director Rottneros Bruk AB +46703667300

Rottneros discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The Information was submitted for publication on Thursday 1:th of December 2014 at 10:00 am CET.

Rottneros is an independent producer of market pulp. The Group comprises the parent company Rottneros AB, listed on NASDAQ OMX Stockholm, and its subsidiaries Rottneros Bruk AB and Vallviks Bruk AB with operations involving the production and sale of market pulp. The Group also includes the wood procurement company Rottneros Baltic SIA in Latvia. The Group has approximately 250 employees and had a turnover of approximately SEK 1.4 billion in the 2013 financial year.

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rott logo ppwRottneros AB (publ) hereby announces that Carl-Johan Jonsson with immediate effect leaves the company and is replaced by the board member Per Lundeen as acting CEO. The recruitment process for a permanent CEO has been initiated.

”Rottneros is developing positively and the profit improvement program, Fokus 15, that was initiated by the board will continue. The change of leadership is based on different views on leadership and organizational development”, says Rune Ingvarsson, chairman of the board, Rottneros.

Per Lundeen is a member of the board of Rottneros since 2013. Per Lundeen has a Master of Science from Chalmers University of Technology and long experience from management roles, especially in the packaging and paper converting industry. Among others Per Lundeen was the CEO at Å&R Packaging from 2000 to 2012.

For more information please contact:

Rune Ingvarsson, Chairman of the Board of Rottneros AB, telephone +46 702887976

Rottneros discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The Information was submitted for publication on Thursday 6:th of November 2014 at 14:00.

Rottneros is an independent producer of market pulp. The Group comprises the parent company Rottneros AB, listed on NASDAQ OMX Stockholm, and its subsidiaries Rottneros Bruk AB and Vallviks Bruk AB with operations involving the production and sale of market pulp. The Group also includes the wood procurement company Rottneros Baltic SIA in Latvia. The Group has approximately 250 employees and had a turnover of approximately SEK 1.4 billion in the 2013 financial year.

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