Kubva pachimiro chekusimudzira cheEuropean corrugated packaging hofori kuti uone maitiro eiyo carton indasitiri muna 2023.
Gore rino, hofori dzeEuropean carton packaging dzakachengeta purofiti yakakwira kunyangwe mamiriro ezvinhu ari kuramba achiipa, asi kuhwina kwavo kunotora nguva yakareba sei? Pakazere, 2022 richava gore rakaoma kune hofori dzemakatoni ekurongedza. Nekukwira kwemitengo yesimba uye mutengo wevashandi, makambani epamusoro eEurope anosanganisira Schmofi Kappa Group neDesma Group ari kunetsekawo kubata nemitengo yemapepa.
Sekureva kwevanoongorora kuJeffries, kubvira 2020, mutengo webhodhi remidziyo yakadzokororwa, chikamu chakakosha chekugadzira mapepa ekurongedza, wakapetwa kaviri muEurope. Neimwe nzira, mutengo we virgin containerboard wakagadzirwa zvakananga kubva kumatanda pane kudzokororwa makatoni wakatevera yakafanana trajectory. Panguva imwecheteyo, vatengi vanokoshesa mari vari kuderedza kushandisa kwavo pamhepo, izvo zvinozoderedza kudiwa kwemakatoni.
Mazuva ekubwinya akambounzwa nedenda idzva rekorona, senge maodha ari kushanda akazara, mabhokisi akatsiga, uye mitengo yemasheya iri kukwira yehofori dzekurongedza…zvese izvi zvapera. Kunyange zvakadaro, zvisinei, makambani aya ari kuita zviri nani kupfuura nakare kose. Smurfi Kappa nguva pfupi yadarika yakashuma kukwira kwe43% muhoro pamberi pemubereko, mutero, kuderera kwemutengo uye amortization kubva munaNdira kusvika pakupera kwaGunyana, nepo mari yekushandisa yakakwira nechetatu. Izvi zvinoreva kuti mari ya2022 uye purofiti yemari yakatopfuura pre-denda, kunyangwe iri chikamu chechina chenzira kusvika mukupera kwa2022.
Zvichakadaro, Desma, iyo UK nhamba yekutanga yekorogi yakarongedza hofori, yasimudza fungidziro yegore kusvika 30 Kubvumbi 2023, ichiti yakagadziridzwa purofiti yekushanda kwehafu yekutanga inofanira kunge inosvika mazana mana emamiriyoni emadhora, zvichienzaniswa ne2019. yaive 351 miriyoni pondo. Imwe hofori yekurongedza, Mondi, yakawedzera chikamu chayo nezvikamu zvitatu kubva muzana, kupfuura zvakapetwa kaviri purofiti yayo muhafu yekutanga yegore, kunyangwe paine nyaya dzisina kugadziriswa mubhizinesi rayo reRussia rine minzwa.
Desma's Gumiguru kutengeserana gadziriso yaive shoma pane zvakawanda, asi yakataura "zvishoma zvishoma mavhoriyamu emabhokisi ane makora akafananidzwa". Saizvozvo, kukura kwakasimba kwaSmurf Kappa hakusi iko kwekutengesa mamwe mabhokisi - kutengeswa kwebhokisi remarata kwakadzika mumwedzi mipfumbamwe yekutanga ya2022 uye yakatodonha ne3% mukota yechitatu. Kusiyana neizvi, hofori idzi dzinowedzera purofiti yemabhizinesi nekukwidza mitengo yezvinhu.
Mukuwedzera, huwandu hwekutengesa hunenge husina kunaka. Mukufona kwemari yemwedzi uno, Smurfi Kappa CEO Tony Smurphy akati: "Huwandu hwekutengeserana mukota yechina hwakafanana nezvatakaona muchikamu chechitatu. Kunhonga. Ehe, ndinofunga mimwe misika yakaita seUK neGermany yave yakati sandara kwemwedzi miviri kana mitatu yapfuura.
Izvi zvinokumbira mubvunzo: chii chichaitika kune corrugated box indasitiri muna 2023? Kana musika uye kudiwa kwevatengi kwekurongedza kwemarara kukatanga kudzikira, vagadziri vemapakeji vane makora vangaramba vachikwidza mitengo kuti vawane purofiti yepamusoro? Vaongorori vakafadzwa nekuvandudzwa kweSmurfKappa vachipihwa iyo yakaoma macro kumashure uye kushomeka kwekatoni kutumirwa kwakashumwa mukati. Panguva imwecheteyo, Smurfi Kappa akasimbisa kuti boka raive "nekuenzanisa kwakasimba kupfuura gore rapfuura, nhanho yatagara tichifunga kuti haigoneke".
Zvisinei, vanoisa mari havana chokwadi nazvo. Migove yeSmurfi Kappa yakadzikira makumi maviri neshanu kubva pakukwirira kwedenda, uye yaDesmar yakaderera makumi matatu neshanu muzana. Ndiani akarurama? Kubudirira hakungotsamira pamakatoni uye kutengesa bhodhi. Vaongorori veJefferies vanofanotaura kuti mitengo yakadzokororwa yemidziyo ichadonha ichipihwa isina kusimba macro kudiwa, asi zvakare kusimbisa kuti marara mapepa uye mutengo wesimba uri kudonha zvakare, nekuti izvi zvinoreva zvakare kuti mutengo wekugadzira kurongedza uri kudonha.
“Chinowanzotariswa, semaonero edu, ndechekuti mitengo yakaderera inogona kukurudzira mihoro uye pakupedzisira, kune vanogadzira mabhokisi ane marata, pundutso yekuchengetedza mari inozove nekudhura kwemitengo yebhokisi yakaderera. Izvo zvakaratidzwa zvisati zvaitika kuti izvi zvakanyanya kunamatira munzira yekudzika (3-6 mwedzi lag). Pakazere, mari inowanikwa kubva pamitengo yakaderera inoderedzwa nemutengo wemhepo kubva pamari. ” muongorori paJeffries Say.
Panguva imwecheteyo, mubvunzo wezvinodiwa pachawo hauna kunyatsojeka. Kunyangwe e-commerce uye kudzikira kwave kutyisidzira kuita kwemakambani ekurongedza, chikamu chikuru chekutengesa kwemapoka aya kazhinji mune mamwe mabhizinesi. KuDesma, inosvika makumi masere muzana emari inowanikwa kubva kune zvinokurumidza kufamba zvinhu zvevatengi (FMCG), izvo zvinonyanya zvigadzirwa zvinotengeswa muzvitoro zvikuru, uye ingangoita makumi manomwe muzana emakatoni eSmurfi Kappa ekurongedza anopihwa kune vatengi veFMCG. Izvi zvinofanirwa kuratidza kusimba sezvo musika wekupedzisira uchikura, uye Desma yakaona kukura kwakanaka munzvimbo dzakadai sekutsiva kwepurasitiki.
Saka kunyangwe kudiwa kwachinja, hazviite kudonha pazasi peimwe nzvimbo - kunyanya kupihwa kudzoka kwevatengi vemaindasitiri vakarova zvakanyanya neCOVID-19 denda. Izvi zvinotsigirwa nemhedzisiro ichangoburwa kubva kuMacFarlane (MACF), iyo yakaratidza kukwira kwe14% kwemari mumwedzi mitanhatu yekutanga ya2022 sekupora mundege, huinjiniya uye kugamuchira vaenzi vatengi kupfuura kudzikisira kudzikira mukutenga online.
Corrugated packers vari kushandisawo denda kuvandudza mapepa avo. Mukuru weSmurfi Kappa, Tony Smurphy akasimbisa kuti chimiro chekambani yake "chiri pachinzvimbo chepamusoro chatisati tamboona" munhoroondo yedu, paine chikwereti / mihoro isati yaitwa yakapetwa isingasviki ka1.4. Mukuru weDesmar Myles Roberts akatsinhira kuti munaGunyana, achiti chikwereti/mihoro yeboka rake pamberi peamortization ratio yakanga yadzika kusvika ka1,6, “imwe yezvikamu zvakaderera zvatakaona mumakore akawanda”.
Zvese izvi zvinowedzera kunoreva kuti vamwe vaongorori vanotenda kuti musika uri kuwedzeredza, kunyanya maererano neFTSE 100 packers, mutengo unosvika makumi maviri muzana pasi pane fungidziro yekubvumirana kwemari isati yaitwa. Kukosheswa kwavo kunoyevedza, neDesma inotengesa pachiyero cheP/E chekumberi che8,7 chete avhareji yemakore mashanu ye11.1, uye Schmurf Kappa yekumberi P/E reshiyo ye10.4 maringe neavhareji yemakore mashanu ye12.3. Zvakawanda zvinoenderana nekugona kwekambani kugonesa vanoisa mari kuti varambe vachishamisika muna 2023.
Nguva yekutumira: Zvita-13-2022
