SCA reported third-quarter 2026 EBITDA of SEK 1,631m (USD 164m), up 25% on the second quarter and down 1% year-on-year, as higher kraftliner prices and lower maintenance and raw material costs offset weak pulp and sawn timber markets. Net sales rose 5% year-on-year to SEK 5,248m (USD 528m) on higher delivery volumes, while nine-month EBITDA remained 24% below the same period of 2025.
Why this mattersSequential recovery in containerboard pricing signals improving conditions for European kraftliner producers even as pulp and sawn timber markets stay weak.
- Q3 2026 EBITDA was SEK 1,631m (USD 164m), up 25% from Q2 and down 1% from SEK 1,644m (USD 165m) a year earlier
- Further kraftliner price increases lifted SCA's average containerboard selling prices versus Q2, on robust European demand
- Q3 net sales rose 5% year-on-year to SEK 5,248m (USD 528m) on higher delivery volumes
- EBITDA margin was 31.1% in Q3 2026, against 32.9% a year earlier and 25.3% in Q2 2026
- Q3 operating profit was SEK 1,047m (USD 105m), down from SEK 1,112m (USD 112m) a year earlier and up from SEK 724m (USD 73m) in Q2
- Nine-month net sales fell 3% to SEK 15,141m (USD 1,522m) and EBITDA fell 24% to SEK 4,041m (USD 406m)
- Q3 net profit was SEK 772 million, EPS of SEK 1.1, beating the forecast of SEK 0.9809 by about 12%
- Containerboard EBITDA rose 130% to SEK 446 million on stronger pricing and demand
- SCA will raise Q4 kraftliner prices by EUR 8 per tonne for brown grades and EUR 60 per tonne for white grades
- Net debt stood at SEK 11 billion, with leverage of 2.0 times and net debt to equity of about 10%
SCA has completed a fibreline project in the digester area of its Östrand pulp mill in Sweden, finishing the final work during the annual maintenance shutdown before restart, it reported on 20 October 2026. The investment aims to reduce blow-through risk, improve availability and prepare for a sustained increase in production rate. No investment figure or capacity target was disclosed.
Why this mattersA more stable digester at Ostrand gives SCA the base for a sustained rise in pulp output, though it has not quantified the capacity gain.
- SCA reported on 20 October 2026 that the Östrand fibreline project is complete
- The final work was done during the mill's annual maintenance shutdown, before start-up
- The investment in the digester area aims to reduce blow-through risk and improve availability
- SCA describes it as one of its larger projects this year
- The company says it lays the foundation for a sustained increase in production rate, without giving a figure
European containerboard prices rose again as the fourth quarter of 2026 opened, with recycled grades up about EUR 60/t and unbleached kraftliner up about EUR 80/t in Germany, France and Poland during September, according to Fastmarkets. SCA had already announced a EUR 100/t kraftliner increase across Europe in August, effective 1 September, taking the cumulative kraftliner rise since the start of the year to roughly EUR 200/t. Fastmarkets also notes growing inquiries from Latin American buyers seeking European kraftliner as US supply tightens.
Why this mattersSustained kraftliner and recycled-grade inflation squeezes corrugated converters' margins and pulls Latin American demand towards European mills as US supply tightens.
- Unbleached kraftliner prices rose about EUR 80/t in Germany, France and Poland in September 2026, per Fastmarkets.
- Cumulative European kraftliner price increases reached about EUR 200/t since the start of 2026, per Fastmarkets.
- SCA announced a EUR 100/t increase on its European kraftliner grades in August 2026, effective 1 September 2026.
- Recycled containerboard (RCCM) prices rose by about EUR 60/t in Germany, France and Poland in September 2026.
- Italy saw an initial EUR 40/t kraftliner increase in September with a second step expected in October 2026.
- Fastmarkets reports rising inquiries from Latin American buyers for European kraftliner amid tighter US kraftliner availability.
