Business News

Norske Skog Q4 2009 results: Continued demanding market

Thursday 04. February 2010 - Norske Skog had gross operating earnings (EBITDA) in the fourth quarter of 2009 of NOK 472 million, down from NOK 642 million in the third quarter. Gross operating earnings for the full year 2009 were NOK 2.185 billion, a reduction of NOK 342 million from 2008 on a comparable basis.

Net interest bearing debt was reduced by NOK 4.4 billion in 2009, totalling NOK 9.6 billion at year end. Demand for Norske Skog’s products was weak throughout 2009, and the market is characterised by record-low prices in Europe and continued overcapacity.