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SCA (SCA) investor relations material
SCA Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary25 Jul, 2025
Executive summary
EBITDA rose 8% year-over-year to SEK 2,033m (margin 37.8%), driven by higher prices, strong production in Containerboard and Wood, and increased harvesting of own forest.
Net sales increased 2% year-over-year to just below SEK 5.4 billion, supported by higher prices and volumes, partially offset by negative currency effects.
Strategic investments in production facilities, including Bolstad sawmill and Obbola containerboard mill, contributed to higher volumes and lower specific costs.
Global uncertainty, especially around tariffs, continues to impact demand, notably in the pulp market.
Market volatility and tariff risks remain key concerns for future performance.
Financial highlights
Net sales reached SEK 5,380m in Q2 2025, up 2% year-over-year; EBITDA was SEK 2,033m (margin 37.8%).
EBIT increased 11% to SEK 1,504m, with EBIT margin at 28.0%.
Net profit was SEK 1,088m, or SEK 1.55 per share, with an effective tax rate of 20%.
Operating cash flow for Q2 was SEK 953m; for H1, SEK 1,438m.
Net debt stood at SEK 12,958m; net debt/EBITDA at 1.8x; net debt/equity at 13%.
Outlook and guidance
Expect continued market volatility, especially in renewable fuels, as Europe increases blending mandates.
Tariff uncertainty is expected to continue affecting the Pulp segment.
Strategic projects are expected to gradually increase production volumes and cash flow in coming years.
Pulpwood costs expected to decrease slightly in Q3 and Q4, while sawlog costs may rise.
Containerboard prices remain firm, but market balance and tariffs could impact future pricing.
Assess impact of strategic projects on cash flow.
Why did pulp segment EBITDA decline so sharply?
Explain forest asset valuation amid limited data.
Obbola's 2026 EBITDA impact from ramp-up?
Pulp sales strategy given US tariff uncertainty?
Expected Q3/Q4 wood raw material cost trend?
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Frequently asked questions
Svenska Cellulosa Aktiebolaget SCA, a forest products company, develops, produces, and sells forest, wood, pulp, and containerboard products. . It offers bleached mechanical pulp, bleached chemical pulp, unbleached kraft pulp, newsprint, magazine paper, tissue paper, linerboard, corrugating medium, and fluting; permanent packaging material; cellulose fibre for production of insulation panels for construction applications; and newsprint for graphic printers. The company is based in Sundsvall, Sweden.
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