Reversing paper and related market excesses of 2021-22 remains an unchanged reality, which was also evident in Holmen’s Q3 results. Profitability (despite some moderation) nonetheless smashed the street’s expectations. Forest continued to be a solid support and was well-complemented by Paper plus Energy. While there were sustained challenges in Paperboard and Wood, these are not lasting concerns. Overall, with better preservation of profitability in challenging markets and growth being well-alig ....
