Stephen Binnie, CEO & Executive Director
Good day, and thank you, everybody, for joining. As always, I’ll be referencing the investor presentation and will call out page numbers as I move through.
Starting briefly on page 2, I’d like to draw your attention to the forward-looking statements disclosure.
Turning to page 3, which summarizes the financial year 2025 as a whole, it’s fair to say it was a challenging year marked by ongoing global economic weakness. We experienced difficult market conditions across all our segments, driven not only by weak economic activity but also increasing global trade tensions.
As a result, we saw downward pressure on selling prices. Most notably, dissolving pulp prices dropped quite sharply during the year. In our paper segment, the impact was compounded by excess supply in key global markets, further affecting prices and margins.
Despite all these challenges, we did achieve some operational highlights. Our Dissolving Wood Pulp (DWP) and packaging volumes grew year-on-year, demonstrating our ongoing commitment to resilience and adaptability.
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