The hottest IP had a net loss of $31.3 billion in

2022-07-26
  • Detail

IP's net loss in the second quarter was $313million

IP announced on July 17 that its profit before deducting special items in the second quarter was $64million (equivalent to $0.13 per share), an increase of $40million over the previous quarter

the net sales in the second quarter of 2001 was $6.7 billion, the first quarter was $6.9 billion, and the second quarter of 2000 was $6.8 billion

John Dillon, chairman and CEO of the company, said: "the external environment is still very difficult. We are taking a series of actions to strengthen and improve the profitability of the company. These internal factors have led to the improvement of performance in this quarter. We will continue to reduce production capacity to meet market demand, improve business level, and restructure employees to achieve better performance."

in the second quarter and early July, the company announced that it would cut 4000 jobs due to capacity reduction, conduct internal restructuring and optimize the setting of employee responsibilities

although the work efficiency has improved in this quarter, the weakness of the pulp and paper market has had a negative impact. Due to the high exchange rate of the US dollar, export competitiveness continues to decline

after the reorganization of the printing and communication paper department, the cost is expected to be significantly reduced. However, the pulp market continues to weaken, and the business of the European paper sector is also declining. In coated paper and super 6 The swing failure is mostly caused by the loose mechanical and electrical belts. The improvement of operation efficiency has slightly offset the weak demand for magazine paper

the company's logistics department has made some progress in improving internal profitability, but it has been affected by the weakness of the paper market and the reduction of sales in the packaging and industrial products markets

the profit of the consumer packaging department improved compared with the first quarter due to the improved operation and lower costs. The high exchange rate of the US dollar weakened the export demand of bleached cardboard and carton board. The extensive production reduction of industrial packaging departments, such as replacing the traditional epoxy adhesive and polyurethane adhesive products, continues, Adinareneeadler, senior director of government relations and international affairs, said: "we have taken these rumors seriously to 610000 tons.

in the forest products sector, with the stabilization of the number of residential construction, timber sales have increased, and the prices of OSB and composite board have increased this quarter.

in businesses outside North America, the global economic downturn has affected Carter Holt Harvey (CHH) in New Zealand Sales of forest products and pulp in China. Later in the quarter, business in Europe also declined. Brazil's situation is relatively stable and its financial situation is still very good

after deducting special items, IP actually lost USD 313million (USD 0.65 per share) in the second quarter, while it made a profit of USD 270Million (USD 0.64 per share) in the same period of 2000

Copyright © 2011 JIN SHI