The Norwegian producer Norske Skog reported EBITDA of NOK 73 million and a loss before income taxes of NOK 163 million for the second quarter of 2026, as recycled containerboard deliveries reached a record 122,000 tonnes and the packaging paper segment posted its first-ever positive EBITDA margin.
Total operating income was NOK 2,584 million, down from NOK 2,877 million in the previous quarter. CEO Geir Drangsland said the stronger Norwegian krone and lower other operating income weighed on reported results, but the company maintained solid liquidity and strengthened cash during the quarter. Equity ratio stood at 41%, with cash of NOK 723 million and net interest-bearing debt reduced to NOK 4,361 million.
In the packaging segment, Bruck PM3 delivered 52,000 tonnes with EBITDA of NOK 25 million, while Golbey PM1 delivered 70,000 tonnes with EBITDA of NOK -24 million; full utilisation at Golbey remains targeted for the first half of 2027. The publication paper segment maintained profitability and market share despite currency headwinds.
Norske Skog received approximately NOK 470 million in energy refunds during the quarter and expects around NOK 780 million in proceeds in Q3 from its transaction with Norwegian Nuclear Decommissioning, tied to the Saugbrugs site.
The company also announced mill leadership changes: Drangsland has taken interim charge of Golbey following Yves Bailly‘s departure after more than 30 years with the Group, while Mads Eikeland will become Managing Director at Skogn effective September 1, 2026.
