Cham Paper Group publishes preliminary key figures
As expected and communicated, the paper sector of Cham Paper Group faced a challenging first half year 2015. Investments made to increase the capacities of the paper machines in Carmignano at the beginning of the year and the transition of the coating activities from Cham to Italy during the second quarter caused temporary capacity constraints and production inefficiencies.
In addition, the massive strengthening of the US dollar against the Euro resulted in significantly higher pulp prices that could not immediately be passed on to customers through price increases. In the real estate sector, preparations for the transformation of the industrial area into a new urban quarter went according to plan. On the basis of preliminary results, the Group achieved during the first half-year total revenues of CHF 100 million, 13% below the previous year’s period. In local currencies, however, revenues have been on the level of the prior year. The operating result before restructuring charges is expected in the range of CHF 1 – 2 million, the net result should be even.