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| 31.07.2002
Zanders result in the first half year of 2002 positive, Paper demand in the second quarter weaker |
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Bergisch Gladbach (31st July, 2002): The result of Zanders, manufacturer of high-quality fine papers and part of the Finnish M-real group, is with an operating profit of 8.0 m € (1) in the first half year of 2002 positive. Zanders group made an operating loss of 1.9 m. € (1) in the first half year of 2001.
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The result improvement was caused by slightly higher sales volumes (plus 5 % compared to the first half year of 2001) and improved costs. With a delivery volume of 187,500 t, the capacity utilisation rate of Zanders was about 84 % in the first half year of 2002. Pulp prices were lower than in the first half year of 2001. Fixed costs were reduced according to plan. Turnover of Zanders group in the first half year of 2002 with 253.3 m € was 13.5 m € below the same period of 2001 (Zanders group turnover in the first half of 2001: 266.8 m €). The decrease was mainly caused by marginal price erosion, changes in the sales mix and the changes in the exchange rate of the main invoicing currencies US-Dollar and Brit. Pound.
Operating profit of Zanders group in the second quarter of 2002 was 1.9 m € (6.1 m € in the first quarter of 2002). The upward trend in paper demand of the first quarter did not continue in the second quarter of 2002. Capacity utilisation rate in the second quarter was with about 80 % clearly below the capacity utilisation rate of the first quarter.
Zanders remains cautious for further development: The favourable market development in the first quarter has not continued in the second quarter of the year. Any essential change in the market situation is not on the horizon. Production curtailments will thus have to be continued over the next few months. Zanders third-quarter earnings will be affected by the trend in the world economy, the exchange rate of the US-Dollar and Brit. Pound as well as the seasonal weakening in demand over the summer months. The restructuring program aiming for a reduction of fixed costs and improvement of efficiency is proceeding according to plan.
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| Contact: |
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M-real Zanders GmbH
Stefan Küchler
Abteilung Unternehmenskommunikation
An der Gohrsmühle | Postfach 20 09 60 | D-51465 Bergisch Gladbach
Tel: +49 (0) 2202 / 15 20 50 2050 | Mobil: +49 (0) 173 / 5494215 |
Fax: +49 (0) 2202 15 2821
Email:
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