Paper industry is difficult optimistic full-year results-Iota

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News > Dynamic industry > Paper industry is difficult optimistic full-year results

Paper industry is difficult optimistic full-year results

Due to the weak macroeconomic demand incompetent, paper companies generally poor third quarter results, the situation is equally bleak throughout the year, more than the company expects full year net profit fell by more than 50%. However, household paper for fast moving consumer goods, there is a rigid demand, less affected by the economic environment, thriving industry as a whole in the case of the poor, which results in smooth clean soft worth the wait.
Paper industry low ebbs
Data show that 24 listed companies in the first three quarters of the paper this year, total operating income of 74.775 billion yuan, net profit of 344 million yuan. Last year, 24 companies in total operating income of 73.232 billion yuan, net profit of 2.287 billion yuan. Comparing two sets of figures is not difficult to find much revenue year on year decline, but significant differences between net profit, compared with 1.943 billion yuan a year earlier, down 84.96%. Among them, the company's net profit fell to reach 16, Qingshan Paper Industry, Fujian Nanping Paper and Yuehua package B net profit decline is more than 100%.
By the poor economic environment at home and abroad, coupled with the superposition of weak demand and overcapacity Sheng effect, the paper industry in trouble. The report notes that a recent paper raw materials and downstream products prices have not significantly improved the weak state of affairs, the paper industry fundamentals turning point has not yet appeared. Dongguan Securities also believes that before the overcapacity and low concentration of these two years of development of the industry has been plagued factor has improved throughout the boom of the paper industry is difficult to raise, after systematic opportunity to be painful to be completed before production process there may be.
Listed companies on full-year earnings outlook is not optimistic. Because of pulp and paper market slump, Yueyang Forest & Paper expected this year compared with last year cumulative net profit fell 90%. King Hing Paper believes that the industry downturn downstream demand situation will continue, the company's profitability in the short term can not be repaired, expected full-year 2012 attributable to shareholders of listed companies net profit will decline over last year, in the range of 50% - 70%.
Tissue business into a bright spot
Although the paper's overall performance hit big, however, due to the presence of tissue rigid demand, in the case of poor performance of the industry as a whole, the relevant company's performance seems quite bright.
Secretary-General of China Paper Association Professional Committee Jiang Manxia tissue, said recently, tissue sub-sector growth this year was essentially flat with last year, is still up 12% year on year growth rate. China Paper Association statistics show that during 1990-2011, China's consumption of household paper CAGR of 10% growth rate in 2011 was 12.7%. Jiang Manxia expected 2012 growth rate of household paper market in more than 12% over the next few years, the growth rate will remain at 8% -12%.
It is understood that the four former Chinese domestic producers of household paper APP (gold leaves), Heng, Vader and soft Shun Jie, global production capacity, respectively, ranked No. 4, No. 7, Section 17 and Section 20 , ranking first in Asia are one, the first three, the first six and nine. 2011 four companies total paper production capacity accounted for nearly 30% of the total capacity of the industry, with sales accounting for about three percent. Jiang Manxia expects sales of the four companies account for 35% of the total market share.
Vinda International were not disclosed in 2012, three quarterly, semi-annual report of its realized gain of HK $ 2.887 billion in the first half of this year, an increase of 31.6%; net profit of HK $ 258 million, an increase of 35.1%. Shun Jie soft 2012 three quarterly, from January to September to achieve revenue 1.677 billion yuan, an increase of 28.52%; net profit attributable to shareholders of listed companies 107 million yuan, an increase of 68.36%. Shun Jie Sophie said that with the raise investment project capacity to gradually release, increased marketing efforts, this year will achieve a net profit up 60% -90%.
Guotai Junan that the tissue as necessary FMCG, demand-side price is relatively stable, while the price of the main raw material of wood pulp by the macroeconomic impact of the poor, relatively high pulp prices fell about 15 percent last year, Shun Jie Sophie continued to benefit from the use of low-cost raw materials. In addition, the smooth clean soft IPO project has been put into operation early last year and 50,000 tons, and the remaining 120,000 tons production capacity will come on stream in the fourth quarter of this year, next year capacity growth over 50%. Meanwhile, the company plans to continue in Sichuan and Guangdong Yunfu New 180,000 tons of production capacity. However, the domestic life next year after the release of a large paper capacity, the company will sell a certain pressure.

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