Ke nānā nei i ke ʻano o ka ʻoihana pahu pahu i ka makahiki 2023 mai ke kūlana hoʻomohala o nā nunui o nā ʻāpana corrugated European.
I kēia makahiki, ua mālama ka poʻe nunui pahu pahu pahu ma ʻEulopa i nā waiwai kiʻekiʻe ma lalo o ke kūlana deteriorating, akā pehea ka lōʻihi o kā lākou lanakila lanakila? Ma ka laulā, he makahiki paʻakikī ʻo 2022 no ka poʻe nunui pahu pahu pahu. Me ka piʻi ʻana o nā kumukūʻai ikehu a me nā koina hana, ʻo nā hui ʻEulopa kiʻekiʻe, ʻo ia hoʻi ʻo Smurf Cappa Group a me Desma Group, ke hana ikaika nei hoʻi i ka pilikia o nā kumukūʻai pepa.Pahu pepa
Wahi a nā mea loiloi ʻo Jeffries, mai ka makahiki 2020, ma ke ʻano he ʻāpana koʻikoʻi o ka hana ʻana i ka pepa pepa, ua aneane pālua ke kumukūʻai o ka pahu pahu recycled ma ʻEulopa. Eia kekahi, ʻo ke kumukūʻai o ka pahu pahu maoli i hana pololei ʻia mai nā lāʻau ma mua o nā pahu pahu i hana hou ʻia e hahai ana i kahi ala hoʻomohala like. I ka manawa like, ke hōʻemi nei nā mea kūʻai aku i kā lākou hoʻolimalima pūnaewele, ʻo ia ka mea e hōʻemi i ka koi no nā pahu pahu. ʻeke pepa
ʻO nā makahiki hanohano i lawe ʻia e ka COVID-19, e like me nā kauoha e holo ana i ka piha piha, ka lako pahu pahu paʻa, a me ke piʻi ʻana o nā kumukūʻai kūʻai o nā mea nunui puʻupuʻu, ua pau. Eia nō naʻe, ʻoi aku ka maikaʻi o ka hana o kēia mau ʻoihana ma mua o ka wā. Ua hōʻike hou ʻo Smurfit Cappa ua hoʻonui ʻia kāna EBITDA e 43% mai ka hopena o Ianuali a Kepakemapa, ʻoiai ua hoʻonui ʻia kāna loaʻa kālā e ka hapakolu. ʻO ia ke ʻano ʻoiai he hapahā o ka manawa ma mua o ka hopena o 2022, ʻo kāna loaʻa kālā a me ka loaʻa kālā ma 2022 ua ʻoi aku ma mua o ka pae ma mua o ka maʻi maʻi COVID-19.
Eia nō naʻe, ua hoʻāla ʻo Desma, ka mea nui o ka hoʻopiha piha ʻana i ka corrugated ma UK, i kāna wānana makahiki ma ka lā 30 ʻApelila 2023, e ʻōlelo ana ʻo ka loaʻa kālā hoʻololi i ka hapa mua o ka makahiki he 400 miliona mau paona, ke hoʻohālikelike ʻia me 351 miliona. paona i ka makahiki 2019. Ua hoʻonui ʻo Mengdi, kekahi kanaka nunui puʻupuʻu, i kāna ʻāpana waiwai kumu ma 3 mau pākēneka a ʻoi aku ma mua o ka pālua ʻana i kāna loaʻa kālā i ka hapa mua o kēia makahiki, ʻoiai ʻo ia nō. ʻO kaʻoihana Lūkini i kahi kūlana paʻakikī ma muli o nā pilikia i hoʻoholoʻoleʻia.Pahu pāpale
He liʻiliʻi nā kikoʻī kikoʻī o Desma i ʻOkakopa, akā ua ʻōlelo ʻia "he haʻahaʻa iki ka huli ʻana o nā pahu corrugated like". Pēlā nō, ʻo ka ulu ikaika o Smurf Cappa ʻaʻole ia ka hopena o ke kūʻai aku ʻana i nā pahu pahu - ua paʻa mau ke kūʻai ʻana i nā pahu pahu corrugated i nā mahina ʻeiwa mua o 2022, a hāʻule hoʻi i ka 3% i ke kolu o ka hapaha. ʻO ka mea ʻē aʻe, hoʻonui kēia mau pilikua i kā lākou loaʻa kālā ma ka hoʻonui ʻana i ke kumukūʻai o kā lākou huahana.pahu pāpale pōhili
Eia kekahi, ʻaʻole i ʻoi aku ka maikaʻi o ka huli ʻana. Ma ka ʻaha kūkā o ka hōʻike kālā kālā i kēia mahina, ua ʻōlelo ʻo Tony Smurf, Luna Hoʻokele o Smurf Cappa: "ʻO ka nui o ke kālepa ʻana i ka hapahā ʻehā ua like loa me ka mea a mākou i ʻike ai i ka hapaha ʻekolu. Manaʻo mākou e ola hou i ka Kalikimaka. ʻOiaʻiʻo, manaʻo wau ua hana maikaʻi kekahi mau mākeke e like me Pelekane a me Kelemania i nā mahina ʻelua a ʻekolu paha i hala. Pahu scarf
Ke alakaʻi nei kēia i kahi nīnau: He aha ka hopena i ka ʻoihana pahu corrugated i 2023? Inā hoʻomaka e hoʻokūpaʻa ka mākeke a me nā koi o nā mea kūʻai aku no ka pōʻai corrugated, hiki anei i nā mea hana pahu corrugated ke hoʻomau i ka hoʻonui ʻana i nā kumukūʻai e loaʻa ai ka waiwai kiʻekiʻe? I ka nānā ʻana i ka paʻakikī o ka macro background a me nā moku pahu pahu palupalu i hōʻike ʻia ma ʻAmelika Hui Pū ʻIa, hauʻoli nā mea loiloi i ka hoʻonui ʻana o Smurf Cappa. Ma ka manawa like, ua hoʻoikaika ʻo Smurfikapa "ʻo ka hoʻohālikelike ma waena o ka hui a me ka makahiki i hala aku nei he ikaika loa, a ke manaʻoʻiʻo mau nei mākou he pae paʻa ʻole kēia". Pahu makana Kalikimaka
Eia naʻe, kānalua loa nā mea kālā. ʻO ke kumu kūʻai o Smurf Cappa he 25% haʻahaʻa ma mua o ke kiʻekiʻe o ka maʻi maʻi, a hāʻule ke kumukūʻai o Desma he 31%. ʻO wai ka pololei? ʻAʻole pili ka kūleʻa i ke kūʻai ʻana i ka pahu pahu a me ka pahu pahu. Ua wānana ka poʻe kālailai ʻo Jeffries ma muli o ka nāwaliwali o ka noi macro, e hāʻule ana ke kumukūʻai o ka pahu pahu hana hou, akā ua hoʻoikaika pū lākou i ka hāʻule ʻana o ke kumukūʻai o ka pepa ʻōpala a me ka ikehu, no ka mea, ʻo ia hoʻi ke hāʻule nei ke kumukūʻai o ka hana ʻana.
"I ko mākou manaʻo, ʻo ka mea i ʻike pinepine ʻole ʻia ʻo ka haʻahaʻa haʻahaʻa paha he hopena hoʻokele nui i ka loaʻa kālā. ʻO ka hope, no nā mea hana pahu corrugated, e ʻike ʻia nā pōmaikaʻi o ka hōʻemi ʻana i ke kumu kūʻai ma mua o ke kumu kūʻai pahu pahu haʻahaʻa, ʻoi aku ka viscous i ke kaʻina o ka emi ʻana (lag 3-6 mahina). Ma keʻano laulā, ua hoʻokaʻawale ʻia ka nui o ka loaʻa mai ke kumu kūʻai haʻahaʻa e ke poʻo o ke kumu kūʻai o ka loaʻa. Ua ʻōlelo ʻo Jeffries nā mea loiloi. Pahu lole
I ka manawa like, ʻaʻole pololei loa ka pilikia koi. ʻOiai ua hoʻoweliweli ka e-commerce a me ka lohi i ka hana ʻana o nā ʻoihana hoʻopili corrugated, ʻo ka hapa nui o ke kūʻai aku o kēia mau pūʻulu i nā ʻoihana ʻē aʻe. Ma Desma, ma kahi o 80% o ka loaʻa kālā mai nā huahana mea kūʻai wikiwiki (FMCG), ʻo ia nā huahana i kūʻai ʻia ma nā hale kūʻai. Ma kahi o 70% o ka pahu pahu pahu o Smurf Cappa i hāʻawi ʻia i nā mea kūʻai aku FMCG. Me ka hoʻomohala ʻana o ka mākeke terminal, pono e hōʻoia kēia e maʻalahi. Ua ʻike ʻo Desma i ka ulu maikaʻi o ka hoʻololi ʻana i ka plastic a me nā māla ʻē aʻe.
No laila, ʻoiai ka loli o ka noi, ʻaʻole paha ia e hāʻule ma lalo o kahi kikoʻī - ʻoi aku ka noʻonoʻo ʻana i ka hoʻi ʻana o nā mea kūʻai aku ʻoihana i hōʻeha nui ʻia e ka maʻi maʻi COVID-19. Kākoʻo ʻia kēia e ka hana hou a MacFarlane (MACF), i hōʻike ʻia ʻo ka hoʻihoʻi ʻana o nā mea kūʻai aku i ka mokulele, ʻenekinia a me nā ʻoihana hōkele e hoʻopau i ka hopena o ka emi ʻana o ke kūʻai pūnaewele, a ua hoʻonui ʻia ka loaʻa kālā o ka hui e 14% i ka mua. ʻeono mahina o 2022. pahu lawe meaʻai pipi
Hoʻohana pū ka poʻe packer corrugated i ka maʻi maʻi e hoʻomaikaʻi i kā lākou waihona. Ua ʻōlelo ʻo Tony Smoffey, Luna Hoʻokele o Smoffey Kappa, ʻo ka ʻoihana kapikala o kāna ʻoihana "ma ke kūlana maikaʻi loa i kā mākou mōʻaukala", a ʻo ka nui o ka loaʻa kālā ma mua o 1.4 manawa. Ua ʻae ʻo Miles Roberts, Luna Hoʻokele o Desma, me kēia i ka mahina ʻo Kepakemapa, e ʻōlelo ana ua hāʻule ka ratio o ka ʻaiʻē / pre amortization waiwai o ka hui i 1.6 manawa, "ʻo ia kekahi o nā ratio haʻahaʻa loa i nā makahiki he nui".pahu hoʻouna
ʻO kēia mau mea a pau, ke manaʻo nei kekahi poʻe loiloi ua ʻoi aku ka nui o ka mākeke, ʻoi aku hoʻi i ka hihia o FTSE 100 index packers, nona ke kumu kūʻai i hāʻule ma kahi o 20% mai ka loaʻa kālā ma mua o ka amortization. ʻOi aku ka maikaʻi o kā lākou loiloi. ʻO ka lākiō P / E mua o Desma he 8.7 wale nō, ʻoiai ʻo ka awelika ʻelima makahiki he 11.1, ʻoiai ka mua P / E lākiō o Smurfikapa he 10.4, a ʻo ka awelika ʻelima makahiki he 12.3. Ma kahi nui, hilinaʻi ia inā hiki i ka ʻoihana ke hōʻoiaʻiʻo i nā mea hoʻopukapuka hiki iā lākou ke hoʻomau i ka hana kupanaha i 2023.pahu hoʻouna leka uila
Ka manawa hoʻouna: Dec-27-2022
