It has been over a year since the last forestry sector review 
and the first-half reports are out, so it was high time to get Antti to comment on the situation in more detail. Familiar problems continue to plague the sector, and the longer the headwinds persist, the more some issues start to look like structural problems…
Topics:
(00:00) Introduction
(00:16) Performance at the start of the year
(02:50) Market cyclicality vs. structural change
(05:12) Can belts still be tightened?
(06:50) Rising costs
(10:23) Development of forecasts
(11:32) Valuations
(13:21) Partial demerger of Stora Enso
(14:37) UPM and WISA