London Feb 27, 2020 (Thomson StreetEvents) -- Imibhalo ebhaliwe ehleliwe ye-Mondi PLC ikholi noma isethulo ngoLwesine, February 27, 2020 ngo-9:00:00am GMT
Sanibonani nonke, futhi namukelekile ku-Mondi Full Year Results Presentation ka-2019. Futhi njengoba nazi, ngingu-Andrew King, futhi -- nakuba, ngazi iningi lenu lingazi kahle, kusobala ukuthi ngiyaqala ngqa ukuba nemiphumela. ilungelo lokuletha le miphumela njengoba i-CEO yakho iqoka.Ngakho ngacabanga ngalokho engqondweni, ngizoqale ngiqale ngokuzindla okumbalwa, engicabanga ukuthi bekubalulekile ekuqhubekiseni ukusebenza kweqembu kule minyaka edlule.Futhi ngicabanga, okubaluleke kakhulu, engikholelwa ukuthi -- kubalulekile ekusebenzeni kweqembu kwesikhathi esizayo.Ngizobe sengibuyela ekubuyekezeni amaphuzu avelele ka-2019 bese ngiqedela ngeminye imibono mayelana nokuma kwamasu.
Njengoba sibona kulesi silayidi, ngicabanga ukuthi, okokuqala, okuningi kwalokho okuzwayo kuzokujwayela kakhulu, futhi angizibeki izaba ngalokho.Kusobala ukuthi ngibe neqembu isikhathi eside kakhulu futhi ngibe yingxenye yokwakhiwa kwesu leqembu.Futhi ngicabanga ukuthi sibe nombono ocace kakhulu wokuthi yini esisebenzelayo, yini engasisebenzeli.Futhi okubalulekile, ngicabanga ukuthi siyazi okuningi kwalokhu kuzosisekela nasesikhathini esizayo.
Kunjalo, ngaphakathi kwanoma yiluphi uhlaka, kufanele futhi ube -- usheshe, uphendule izimo njengoba zishintsha.Ngokusobala, kunomhlaba osheshayo kakhulu okwamanje okufanele sisabele kuwo.Kodwa ngicabanga ukuthi izimiso eziwumongo zalokho engizobe ngikuhambisa kukho, ngicabanga ukuthi kusisize kahle, futhi ngikholwa ukuthi sisazoqhubeka nokusisebenzela kahle kakhulu esikhathini esizayo.
Njengoba ubona, okokuqala, sicabanga ukuthi ukusimama kuyingqikithi yethu.Sekuyiminyaka eminingi ingaphakathi ku-DNA yeqembu.Ukugxila kwangempela, ngokusobala, phakathi nenani leminyaka, bekumayelana nendlela esenza ngayo izinto.Umthelela ibhizinisi lethu elinalo endaweni esizungezile kanye nomsebenzi esiwenzile ukuze sinciphise noma yimiphi imithelela engemihle, futhi empeleni, sithuthukise imvelo kanye nemiphakathi esisebenza kuyo.
Ngicabanga ukuthi siphumelele kakhulu njengeqembu ukuzuza lokho.Futhi-ke, manje yonke leyo ajenda isinwebele emikhiqizweni oyikhiqizayo futhi ibe nomthelela, yona, enawo emhlabeni osizungezile.
Futhi ngicabanga, futhi, lapha, sisesimweni esihle futhi esiyingqayizivele, ngempela, esihlala sisifingqa esiqubulweni sethu esithi, Iphepha lapho kungenzeka khona, ipulasitiki uma iwusizo.Singumdlali omkhulu ochungechungeni lwenani likathayela, njengoba wazi kahle.Singabakhiqizi abakhulu bezikhwama zephepha emhlabeni.Sinobukhona obubalulekile emabangeni akhethekile ephepha le-kraft.Futhi-ke, sizoba abahlomuli abacacile ekushintsheni kwezixazululo ezisekelwe ezinzile.
Ngokusobala, okuphinde kusenze sihluke iqiniso lokuthi siyakwazi ukufinyelela kumakhasimende, ubuchwepheshe, ulwazi, olunikezwa ibhizinisi lethu lokupakisha elisekelwe epulasitiki, lona ngokwalo, elibona ithuba elikhulu lokuthuthuka, ikakhulukazi mayelana nokushayela okuningi. ukugaywa kabusha kwemikhiqizo esephepheni.
Impela, ibhizinisi lethu Lokupakisha nalo liyazuza kusukela kwelinye -- amanye amathrendi abalulekile esiwabona emhlabeni njengamanje.Ngokusobala, i-e-commerce iwumkhuba oqhubekayo, oqhubeka uthuthukisa ukukhula, ikakhulukazi ohlangothini lwebhokisi, kodwa futhi okuthakazelisa nakakhulu manje nasohlangothini lwesikhwama, ukwanda -- indaba emayelana nokwanda kokuqwashisa ngomkhiqizo, okungakasuki. futhi iyaqhubeka nokugqugquzela ukukhula kwamabanga okupakisha.
Ngakho-ke ngamafuphi, ngibona ngokucacile sisohlangothini olufanele lwalezi zindlela eziyinhloko zomkhakha.Impela, kusobala ukuthi ukugxila kwethu ekubeni -- izimpahla zethu ezithuthuke kakhulu bekulokhu kuyisisekelo salokho esiyikho.Sikholelwa ngokusobala ukuthi ukulethwa kwezindleko eziphansi ezimakethe ozikhethile kungenye yezinto ezibalulekile ekushayeleni intengo, ikakhulukazi ebhizinisini le-pulp nephepha.Lokhu kuhlala kuwumongo ebhizinisini lethu.Futhi ngicabanga ukuthi kuningi okuzayo mayelana nokuthi yini esingayenza kule ndawo.
Ngokusobala, ngikholelwa ukuthi amandla abalulekile futhi ahlonziwe eminyakeni edlule ukucabanga kwethu okungaguquguquki nokuhlelekile mayelana nokwabiwa kwezimali.Yebo, sifuna ukukhulisa ibhizinisi lethu.Sikholelwa ukuthi sinezinketho eziningi zokukhula.Kodwa-ke, lokho kudinga ukwenziwa njalo ngokugxila okubukhali ekudaleni inani, futhi lokhu ngeke kushintshe.
Kunjalo, njengoba usungazi kahle manje, ngithanda ibhalansi eqinile.Ngicabanga ukuthi lokho kukunikeza ukukhetha ngomjikelezo wokutshala imali.Ngaphezu kwalokho, sinelungelo lokukhiqiza ukheshi okuqinile kulo mjikelezo.Sizokwenza, ngokusobala, kulokho uma sibheka emuva emiphumeleni ka-2019, kodwa lokho, ngaphezu kwalokho -- kukunikeza ukuguquguquka okwengeziwe ukuze uthathe umbono ongaba namandla wokuphikisa lapho abanye bengakwazi ukunyakaza.
Ekugcineni, kunjalo, awukwazi ukwenza lokhu ngaphandle kwabantu abalungile.Sinenhlanhla enkulu mayelana nokujula nolwazi lwethalente esinalo enhlanganweni.Ngikubona kuwumsebenzi wami ukuqhubeka nokukhulisa nokuthuthukisa abantu abaningi abanamakhono futhi ngokusobala, ngikhuthaza ngaphakathi kulelo isiko lokuhlukahluka nokufakwa eqenjini.Thina, ngokusobala, sinabo -- abantu abaningi abanolwazi eqenjini, futhi ngibheke ngabomvu ukusebenzisana nabo njengoba siqhubekisela phambili ibhizinisi.
Ngalokho, ngibuyela emuva emaphuzu avelele ka-2019. Futhi njengoba nazi kahle, ngaphandle kokwazi, u-2019 ubone ukwehla kulo mjikelezo wamanani amaningi amamaki ethu abalulekile ephepha, okube nomthelela, ngokusobala, ngenxa yokuwohloka komnotho omkhulu okuvamile. .Ngokumelene nalokhu kwangemuva, silethe ukusebenza okuqine kakhulu nge-EBITDA ngama-EUR 1.66 billion, amamajini angama-22.8% kanye ne-ROCE engu-19.8%.
Ukulawulwa kwezindleko okuqinile kanye neminikelo emihle evela ekuthengeni kanye ne-CapEx, iphrojekthi eqedwe ikakhulukazi ngo-2018 yehlise izingcindezi zethu ze-margin.Ngamandla alokhu kusebenza kanye nokubonisa ukuzethemba ngekusasa lebhizinisi kanye nokuphehla imali okuqinile esikubonayo, Ibhodi lincome ukwenyuka ngo-9% kwinzuzo yonyaka wonke.
Ngasohlangothini lwebhizinisi, kusobala ukuthi sajabula phakathi nonyaka ukuqedela ukwenziwa lula kwesakhiwo seqembu sibe i-plc enekhanda elilodwa, okusinikeza ukukhanya okwengeziwe njengenhlangano, ukwenza lula ukuhamba kwemali ebhizinisini futhi, vele, nokuthuthukisa ukushoda kwemali kwamasheya akwaMondi.
Njengoba sekushiwo, thina -- ngiyakholwa ukuthi sibekwe ngendlela ehlukile ukusiza amakhasimende ethu ashintshele ekufakweni okuzinzile.Futhi ngizophinda ngize kulokho ngokuhamba kwesikhathi -- imininingwane eyengeziwe kamuva esethulweni.
Ngokusobala, sijabule kakhulu ngenqubekelaphambili esesiyenzile mayelana nezibopho zethu ezikhulayo zika-2020, futhi sisanda kubuyekeza izibopho zethu zesimo sezulu ngokusekelwe kulokho okuhlosiwe okusekelwe kwisayensi.
Uma ngibheka imininingwane eyengeziwe kafushane ekuthuthukisweni okuyisisekelo kwe-EBITDA.Uzobona umthelela obangelwe ukwehla komjikelezo wentengo.Ngizoba nombala owengeziwe kulokho ngokuhamba kwesikhathi ngokwesisekelo sebhizinisi nebhizinisi.Kodwa ababambe iqhaza elikhulu ekuhlukeni kwentengo okungekuhle kwakuyizintengo eziphansi zebhodi leziqukathi ezilandela eziphakeme kakhulu ezibonwe ngasekupheleni kuka-2018 kanye nezintengo eziphansi ze-pulp.Izintengo zephepha le-Kraft zinikeze i-offset enhle, nakuba, futhi, lezi ziye zaba ngaphansi kwengcindezi phakathi nonyaka.
Uzobona umehluko omkhulu wevolumu ongemuhle, kodwa lokhu ngokwengxenye kuwukubonakaliswa kwesimo sokuhweba esiyinselele kakhulu, ikakhulukazi ibhizinisi lethu lezikhwama kanye nomthamo ngaphansi kwengcindezi esifundeni saseMpumalanga Ephakathi naseNyakatho Afrika, ikakhulukazi, kanye nesikhathi esithile sokungasebenzi esithathwa ukuze silawule i-inventories ephepheni le-kraft kanye namasegimenti ephepha elikhethekile elikhethekile engxenyeni yesibili yonyaka.Umthelela omkhulu, nokho, ungenxa yokuhlelelwa isikhathi eside -- ukuvala ukulungiswa okuhleliwe okude phakathi nonyaka kanye nezinqumo zokuthuthukisa iphothifoliyo ezithathwe ezinyangeni eziyi-18 ezedlule.Futhi lokho kufaka phakathi ibhodi lebhokisi kanye nokuvalwa komshini wephepha omuhle eTurkey naseNingizimu Afrika, ngokulandelana.
Lokhu kuxazululwe ukukhula okuhle kwevolumu ebhizinisini lethu likathayela kanye negalelo lamaphrojekthi amakhulu aqedwe ngo-2018, ikakhulukazi ukwandisa umthamo wephepha le-kraft kanye ne-pulp.
Izindleko zokufaka ngokuvamile beziphakeme unyaka nonyaka, nakuba siye sabona ukukhululeka kwezindleko kungena engxenyeni yesibili yonyaka.Ukhuni, amandla namakhemikhali kwaphuma phakathi nonyaka, kuyilapho iphepha lokugaywa kabusha lalihle unyaka nonyaka futhi lilandelana engxenyeni yesibili uma liqhathaniswa nengxenye yokuqala.Okulindelekile manje okokwengeza okunye ukukhululwa kwezindleko zokufaka ngo-2020.
Njengoba ubona, umthelela wensalela wokutholwa nokulahlwa kwaba ukuhluka okuhle kwezigidi ezingu-EUR 45, ikakhulukazi ngenxa yomnikelo wonyaka ogcwele ovela ku-Powerflute nezitshalo zezikhwama zase-Egypt, esiwuthole maphakathi no-2018.Inzuzo yenani elifanelekile lezamahlathi ibingu-EUR 28 wezigidi ngaphezu konyaka odlule, iqhutshwa amanani entengo ezinkuni ezithunyelwa ngaphandle kanye nokwenyuka kwesamba sengqikithi yaleso sikhathi.Kuyaphawuleka, nokho, ukuthi ingxenye enkulu yenzuzo kulo nyaka ibonwe engxenyeni yokuqala.Ngokusekelwe ezimeni zemakethe zamanje, singalindela ukuthi inzuzo ka-2020 ibe ngaphansi kakhulu njengoba ukunyuka kwentengo yamapulangwe kulindeleke ukuthi kuthuliswe kakhulu.
Uma ngabe ngikunikeza umbono omfishane womnikelo owenziwa ngamayunithi ebhizinisi.Ungabona eshadini elingakwesokudla, sihlinzeka ngencazelo yomnikelo ngamayunithi ebhizinisi eqenjini le-EBITDA.Futhi ngakwesobunxele, ungabona ukunyakaza kwamayunithi ebhizinisi kumnikelo we-EBITDA.Enomboloni elandelayo yamaslayidi, ngizobe sengikunikeza imininingwane eyengeziwe ngeyunithi yebhizinisi.
Ukuthatha kuqala ku-Corrugated Packaging, ungayibona iqhubeka nokuletha amamajini aqine kakhulu nezimbuyiselo naphezu kwengcindezi yentengo esengiyishilo kakade.Yize wonke amamaki ebhodi lebhokisi ethintekile, ingxube yemikhiqizo esinayo enentshisekelo enkulu kumasegimenti akhethekile we-kraftliner ephezulu emhlophe kanye ne-semichemical fluting ayakwehlisa ukuchayeka kwethu kumjikelezo.Ngomfanekiso, intengo yokuma yebhodi lokuqukatha eligaywe kabusha yehle ngokwesilinganiso cishe ngo-18% unyaka nonyaka, kuyilapho i-kraftliner ephezulu ne-semichemical yehle cishe ngo-3% esikhathini esifanayo.Ngokufanayo, kunjalo, isikhundla sethu esinezindleko eziphansi, kwengezwe ukulawula kwezindleko okuqinile kanye nezinhlelo zethu eziqhubekayo zokuthuthukisa inzuzo kusho ukuthi siyaqhubeka nokukhiqiza imbuyiselo eqinile kanye nokugeleza kwemali ngisho nalapho kwehla umjikelezo.
Nokho, okukhuthazayo, manje sibona ukuthuthuka kwezimo zemakethe, nempahla manje esemazingeni avamile namabhuku oku-oda aqinile.Ngemuva kwalokhu, siqale izingxoxo namakhasimende ethu mayelana nokunyuka kwamanani athile.
Uma sibheka ibhizinisi lezansi nomfula, sijabula kakhulu ngokusebenza kwebhizinisi lethu le-Corrugated Solutions, elizuza u-3% wokukhula kwevolumu yamabhokisi ezinto eziphilayo kanye nokunwetshwa kwemajini njengoba ukugcinwa kwentengo bekuqinile lapho sibhekene nokwehla kwezindleko zokufakwa kwephepha.
Bese ngidlulela ku-Flexible Packaging.Ungayibona ijabulele unyaka onamandla kakhulu, i-EBITDA engaphansi ikhuphuke ngo-18% futhi irekhoda amamajini.Njengoba kushiwo, sikwazile ukukhulisa amanani e-kraft paper ekuqaleni konyaka.Uma kubhekwa ubunjalo benkontileka ende kule makethe, amanani ngokwemvelo anamathela kakhulu kunasemabangeni e-containerboard futhi ukwanda okukhulu ekuqaleni konyaka kube ukufinyelelisa onyakeni owandulele wona.
Ngokuhamba konyaka, siye sabona ingcindezi yamanani entengo njengoba ukwehla komnotho okuvamile kube nomthelela ekufuneni, futhi saqala ukubona ukuncintisana okwandayo kubakhiqizi abathile abashintshashintshayo.Lokhu kuqhubekile kwaze kwaba sekuqaleni konyaka wezi-2020, okuthinta izingxoxo zamanani onyaka, kangangokuthi siqala unyaka omusha emazingeni aphansi kunalawo afinyelelwe ngokwesilinganiso sango-2019. Ngokujabulisayo, senza inqubekelaphambili enhle kakhulu ekuthuthukiseni ingxenye yethu yephepha elikhethekile le-kraft, ukubona ukukhula kwevolumu okuhle njengoba singena ekuthandeni okukhulayo kwabathengi kumaphakheji asuselwa ku-fiber.Ukukhula okuqhubekayo kule ngxenye nakho kusekelwa amaphrojekthi ethu e-CapEx e-Steti ikakhulukazi, kanye nemizamo ehlukahlukene yokushintsha amapulasitiki.
Ibhizinisi lezikhwama zephepha elingaphansi komfula lithole ukudlula okuhle kwamanani aphezulu entengo yephepha le-kraft, kodwa ngesikhathi esifanayo, labona amavolumu eza ngaphansi kwengcindezi, ikakhulukazi, njengoba ngishilo kakade eMpumalanga Ephakathi kanye nezimakethe zase-Afrika, ezidalulwa kakhulu. emkhakheni wezokwakha nosikasimende.Kuyakhuthaza, nakuba ezinsukwini zakuqala, okwamanje sibona okuthile kweveni esimweni sokuhleleka ezikhwameni.Ngokombono wesakhiwo, ngaphezu kwamanye amathuba ajabulisayo okushintsha izixazululo zokupakisha ezingasimame kangako, sibona futhi amathuba andayo emikhiqizo yethu yezikhwama kwezentengiselwano, njengoba ngike ngasho ngaphambili.
Ukuguquguquka kwabathengi kubonise izici zayo zokuzivikela lapho ebhekene nokuwohloka komnotho, eqhubeka nokushintsha umkhiqizo wawo futhi ezuza ekugxileni kokuqamba okusha okuqhubekayo.Futhi basekela ukwethulwa kwemikhiqizo yethu esekelwe ephepheni kumakhasimende epulasitiki endabuko, kuyilapho bethuthukisa uhla lwezixazululo zepulasitiki ezigaywa kabusha ezifanele umnotho oyindilinga.
Ukuthuthela ke kuya Engineered Materials.Njengoba ubona, futhi, ilethe ukusebenza okuthuthukisiwe nge-EBITDA ekhuphuke ngo-9% ku-EUR 122 million.Nakuba sicace bha ukuthi lokhu kuphinde kwathopha ngokuzuza okukodwa okungaba ngu-EUR 9 million ngaleso sikhathi.Ngijabule kakhulu ukubona ukusebenza okuthuthukisiwe okuvela engxenyeni yethu yezingxenye zokunakekela komuntu siqu, ngokuhambisana nalokho esikulindele njengoba zithola amavolumu ngokwandisa isabelo sesikhwama.Thina, nokho, silindele ukucindezelwa kwamanani okuqhubekayo njengoba umkhiqizo obalulekile kule ngxenye uvuthwa.Ithimba lethu lezixazululo ze-extrusion lisebenzela uhla lwezixazululo eziqinile zokuhlanganisa, esizibona njengentuthuko ejabulisayo ekusekeleni izinhlelo zethu zokupakisha ezisimeme.
Okokugcina, ngokwemibandela yokubuyekezwa kweyunithi yebhizinisi, ibhizinisi lethu le-Uncoated Fine Paper, njengoba ubona, liyaqhubeka nokuletha imbuyiselo enamandla nokugeleza kwemali naphezu kwezimo zemakethe eziyinselele, njengoba sizuza ezikhundleni zethu zezindleko ezincintisana kakhulu zezitshalo zethu futhi ukuchayeka kwethu ezimakethe ezisafufusa.Nakuba amanani entengo ephepha anganamekiwe ngokuvamile ayephansi ukuze akhuphuke ngokunesizotha unyaka nonyaka, amanani entengo ye-pulp ayehle kakhulu, okunomthelela esimweni sethu se-net eside ku-pulp.Ngo-2020, silinganisela ukuthi leso sikhundla singamathani angama-400,000 ngonyaka.Sibone ukuzinza kwakamuva kumanani entengo ye-pulp, okungenzeka kube nomfutho ophakeme.Sekushiwo lokho, umthelela we-coronavirus, ikakhulukazi ekudingeni izimakethe ezibalulekile zase-Asia, akwaziwa okungaba nomthelela omubi kumbono uma imiphumela ingaqhubeka.
Futhi mhlawumbe kafushane nje, ukuphawula okuvamile nge-coronavirus.Njengeqembu, kuze kube manje, sibone umthelela oqondile olinganiselwe uma kubhekwa ukuchayeka kwethu okulinganiselwe kulezo zifunda ezithinteke kakhulu kuze kube manje.Kodwa-ke, kusobala ukuthi kuyisimo esimanzi kakhulu, futhi siqapha izinto eduze, okuhlanganisa umthelela ochungechungeni lwethu lokunikezela ngempahla kanye, vele, namakhasimende ethu.Ekugcineni, sikholelwa ukuthi ukukhathazeka okukhulu, vele, umthelela ekubukeni kokukhula komnotho omkhulu ngokujwayelekile kanye nokuthi lokhu kungathinta kanjani isidingo semikhiqizo yethu.Kodwa, vele, lokhu kunzima kakhulu ukukuhlola futhi isimo asifani ne-Mondi noma, empeleni, imboni yethu.
Njengoba sekushiwo, sijabule kakhulu ngokuphehla imali okuqinile esikuzuzile onyakeni, futhi kusewukuqina kwebhizinisi lethu.Njengoba ubona, senze imali engu-EUR 1.64 bhiliyoni kusukela ekusebenzeni ngaleso sikhathi, okucishe kufane nonyaka odlule naphezu kokwehla kwe-EBITDA.Lokhu kusekelwe ukuhlehliswa kokuphuma kwemali emalini yokusebenza okubonwe ngonyaka owandulele, nokushintshashintsha konyaka okufika kuma-EUR ayizigidi eziyi-150, okuyisivikelo esibalulekile ekuwohlokeni komnotho.Le mali ngokwengxenye yasetshenziswa -- ukuze kusekelwe uhlelo lwethu oluqhubekayo lwe-CapEx, nezindleko ezinkulu zonyaka wama-EUR 757 wezigidi noma u-187% wenkokhiso yokwehla kwenani njengoba siqhubeka nokutshala imali ekukhuliseni ibhizinisi.
Siqondise kokunye ukusetshenziswa kwezigidi ezingu-EUR 700 kuya ku-EUR 800 million ngo-2020 ngaphambi kokuba lokhu kulindeleke ukuthi kwehle kubuyele ku-EUR 450 million kuya ku-EUR 500 million -- EUR 550 million level ngo-2021 njengoba ukusetshenziswa kwemali epayipini elikhulu lamanje liyancipha. icishiwe.Yebo, sibheka amanye amathuba okusebenzisa isisekelo sempahla ethuthuke kakhulu, esingaba nomthelela ku-2021 nangale kwalokho, kodwa lezi zisesesigabeni sokuqala.
Njengoba ngishilo ekuqaleni, siyaqhubeka nokubeka phambili inzuzo evamile kumongo wenqubomgomo yethu yekhava ka-2x ukuya ku-3x.Ngaleso sizathu, Ibhodi lincome ama-dividend angu-EUR 0.5572 ngesabelo ngasinye, okwenza kube nesabelo sonyaka ogcwele esingu-EUR 0.83 ngesabelo ngasinye.Lokhu kusho ukukhula ngo-9% kwisabelomali sonyaka owandulele.Futhi njengoba ngike ngasho, kukhombisa kokubili ukukhiqiza imali okuqinile kwebhizinisi kanye nokuqiniseka kweBhodi ngekusasa.
Uma ngabe ngibuyela emicabangweni ethile ezungeze izimiso kanye nangokucabanga kwethu kwamasu.Futhi okokuqala, ngokungahlonizi ukukhala kwecilongo mayelana nezinye zempumelelo yethu edlule.Njengoba ubona, siyaziqhenya ngokufanelekile ngeqiniso lokuthi silethe i-EBITDA ethuthukayo nekhulayo futhi sithuthukisa izinzuzo ngokungaguquki kusukela ekufakweni kuhlu kwethu.Futhi ngaphezu kwalokho, sikwenzile futhi kumongo wokuqinisekisa ikusasa elisimeme lebhizinisi.
Njengoba ubona, ngikhethe okunye okuvelele, isibonelo, irekhodi lethu lokuphepha ngalesi sikhathi.Futhi ngokufanayo, umgomo wokukhishwa kwesisi esibamba ukushisa esikuzuzile esikhathini esidlule, ngokuhambisana kakhulu nokucabanga kwethu ukuze sinikele emhlabeni ongcono.
Uhlaka lwethu lwamasu.Futhi, leli ishadi okufanele ulazi kakhulu.Futhi futhi, ngicabanga ukuthi ihlanganisa ngempela imilayezo ebalulekile kulokho esicabanga ukuthi kubalulekile njengeqembu, okugxile kakhulu esifisweni sethu sokuthuthukisa ukukhula okunenzuzo ngendlela eqhubekayo.Sinezinsika zethu ezi-4 njengoba zivezwe kulo mdwebo.Futhi ngizovele ngicoshe kwezinye zezindawo ezibalulekile engizozisho ukuya phambili.
Imodeli yethu ekhula ngokuqhubekayo, njengoba ngike ngasho, iwumgogodla webhizinisi lethu.Yi -- siyibona njengendlela edidiyelwe ngokugcwele yentuthuko esimeme.Kulesi silayidi, ngithathe izinto ezi-3 ezibalulekile engizogxila kuzo, okuyimikhiqizo esimeme, ukuguquka kwesimo sezulu kanye nabantu bakithi.Ukugxila kokuqala kugxile kakhulu ekuphumeni kwethu kanye nomthelela lokhu okunawo endaweni ezungezile.
I-EcoSolutions ihlanganisa indlela yethu, engizophinda ngize emininingwaneni eyengeziwe ngokuhamba kwesikhathi.Umthelela wethu endaweni ezungezile -- esimweni sezulu ubalulekile ngokusobala.Lapha, siyaziqhenya kakhulu ngenqubekelaphambili ebalulekile esiyenzile eminyakeni edlule ekwehliseni ukukhishwa okuthile kwe-CO2 nakuba sibona ngokusobala ukuthi kusekuningi okumelwe sikwenze.Futhi njengoba bese ngishilo, sesisungule izinhloso ezisekelwe kwisayensi zokukhishwa kwekhabhoni kusukela ngo-2050, ngezinyathelo ezibalulekile endleleni.Njengoba ngishilo ekuqaleni, abantu, vele, bayinsiza yethu enkulu kunazo zonke, isiko lethu lokuphepha, obeluhambo olude ligxilile futhi singabaholi bemboni kulokhu, kodwa kuhlale kunokuningi yenza.
Okuthile, engicabanga ukuthi, okuwumahluko wangempela kithi futhi i-Mondi Academy yethu eyenza umsebenzi omuhle ekuqeqesheni nasekuthuthukiseni abantu bethu ngokunikela ekwabelaneni okuhle kakhulu eqenjini lonke.
Ngihambe kahle kulesi silayidi, kodwa kwanele ukusho ukuthi, sibone ukuqashelwa okuphawulekayo kwangaphandle kwezinhlelo zethu zokusimama futhi sikholelwa ukuthi senza umnikelo wangempela emigomeni ye-UN yentuthuko esimeme.
Buya ku-EcoSolutions, egxile kakhulu ekutheni singasiza kanjani amakhasimende ethu ahlangabezane nezidingo zawo zokupakisha okuzinzile.Ngiyazi abaningi benu ebeninathi -- ekuvakasheleni kwethu indawo yaseSteti ekupheleni konyaka odlule, benizokuzwa okuningi ngalokhu.Kodwa ukuphinda siphinde, le ndlela siyibona ihlanganisa imiqondo emi-3 yokufaka esikhundleni, ukunciphisa nokugaywa kabusha.Sifaka lapha izibonelo ezimbalwa zentuthuko yakamuva evela kithi endaweni ngayinye kulezi.Futhi-ke, lokhu sikubona njengendawo eqhubekayo yamathuba kithi njengebhizinisi, futhi sidale iyunithi ezinikele ehlanganisa ochwepheshe abavela kulo lonke ibhizinisi lethu lokupakisha ukuqhuba lolu hlelo.
Lesi isilayidi esimatasa kakhulu, kodwa ngicabanga ngamafuphi, esikubonayo kuyithuba eliyingqayizivele ngempela lokuletha izixazululo ezisimeme kumakhasimende ethu.Njengoba ubona, sinikeza izixazululo ezisekelwe kuma-substrates, kusukela ephepheni elimsulwa ukuya kumapulasitiki ahlanzekile kanye nenhlanganisela -- nezinhlanganisela zakho eziningi, kuye ngezidingo zomuntu ngamunye zamakhasimende ethu.Lena inkundla okungekho noyedwa kwabaqhudelana naye onayo kubo.
Ukubheka-ke ngqo ekugxilweni kokukhulela esikhathini esizayo.Futhi ngokusobala, ukubheka ngesisekelo sebhizinisi-ngebhizinisi.Siyawabona amathuba amakhulu okukhula emabhizinisini ethu okupakisha.Siyawathanda wonke amabhizinisi okupakisha esikuwo, futhi siyaqhubeka nokweseka ukukhula kwawo.
Sesivele, njengoba ngishilo ekuqaleni, ohlangothini lwesokudla lwezisusa eziyinhloko zokukhula kokusimama, ukuhweba nge-e-commerce kanye nokwandisa ukuqwashisa ngomkhiqizo.Sizoqhubeka nokugxila ekukhuleni kwethu kwe-CapEx kanye nezindleko zokuthenga ekuthuthukiseni lawa mabhizinisi.Sesikushilo lokho, sizobheka ukuqhubeka nokutshala imali ngendlela efanele kwamanye amabhizinisi ethu.
Sibheke ukuqhubeka nokuthuthukisa nokuqinisa izikhundla eziqinile ze-niche esesivele sizijabulela kokuthi Engineered Materials, ngokugxila ngokukhethekile kulezo ezijabulela izinzuzo zokuhlanganisa nokunye ukusebenzisana nezinhlelo zethu zokusebenza zokupakisha.Isibonelo, njengoba ngicabanga ukuthi sengishilo, izixazululo zethu zokukhipha kanye nemisebenzi ye-liner inikeza izinzuzo zokuhlanganisa amaphepha kanye nekhono elithile lobuchwepheshe, ikakhulukazi emikhakheni yokwakhiwa kwamaphepha asebenzayo anikeza amathuba amangalisayo, ikakhulukazi ethimbeni lethu le-EcoSolutions.
Ephepheni Elihle Elingahlanganisiwe, umlayezo uhlala uvumelana kakhulu.Sizoqhubeka nokutshala imali ukuze silondoloze ukuncintisana kwaleli bhizinisi, ngesikhathi esifanayo, sisebenzisa isisekelo sempahla esiyisisekelo, esihlanganisa ezinye zezigayo zethu ezincintisana kakhulu ukuze sithuthuke ezimakethe zethu zokupakisha ezikhulayo.
Indawo engicabanga ukuthi saziwa ngayo ngokufanele kakhulu imayelana nezimpahla zethu ezithuthuke kakhulu.Ngihlala ngithembekile enkolelweni, njengoba bese ngishilo, futhi ngingaphinda ngigcizelele ukuthi emabhizinisini akhuphuka nomfula kanye nephepha, ikakhulukazi, umshayeli wenani eliyinhloko yisikhundla sezindleko esilinganiselwe esilethwe emakethe oyikhethile.Lapha, thina, vele, sinefa elihle elilinganiselwa ku-80% womthamo wethu engxenyeni engezansi yejika lezindleko ezifanele.Lokhu kuqhutshwa indawo yezimpahla, kodwa futhi idrayivu engapheli yokusebenza, esiyibona njengekhono eliyinhloko leqembu.Ngibalule, lapha kusilayidi, ezinye zezinqubo ezibalulekile ezifaka isandla ekusebenzeni kokushayela.Kodwa ekugcineni, konke kumayelana nesiko lebhizinisi, futhi lokhu kuyinto, yebo, ngizosebenza kanzima kakhulu ukuyinakekela.
Ukuzimisela kwethu ukutshala ezimpahleni ezithuthukiswe ngezindleko kulo mjikelezo kungenye indawo eye yaletha imbuyiselo eqinile futhi ezoqhubeka nokunikeza amathuba esikhathini esizayo.Nakulokhu, nokho, sisobala kakhulu ukuthi lezi zimali ezitshaliwe kumele zikhethe kakhulu futhi kuphela ezimpahleni umuntu azethembayo zizonikeza inzuzo esimeme yokuncintisana.Asiyitshali i-Expansionary CapEx ezimpahleni eziseceleni ezengeziwe.Lokhu kuyinto engikholelwa kuyo ngokuyisisekelo.
Njengoba sekushiwo, sikhiqiza ukheshi obalulekile ngomjikelezo, uma kubhekwa amamajini ethu ahamba phambili embonini.Lokhu, kanye neshidi lethu lebhalansi eliqinile, kunikeza ukuguquguquka kwamasu kanye nezinketho zokukhula okuzayo.Mayelana nalokhu, izinto eziza kuqala kithi azikashintshi.Ngibona ukutshala izimali ezimpahleni zethu njengento ehamba phambili eqhubekayo enezinketho ezengeziwe zokuthuthukisa isisekelo sempahla yethu ethuthukisiwe ehlolwayo njengamanje.
Ngokufanayo, sibona ukusatshalaliswa kwabanikazi bamasheya okuqhubekayo njengensika eyinhloko yendaba yethu yokutshala izimali.Sikholelwa ukuthi ukuvikela nokukhulisa inzuzo evamile ngaphakathi komongo wenqubomgomo yethu yekhava kuyinto ehamba phambili.
I-M&A isalokhu iyinketho yesikhathi esizayo yokukhula.Ububanzi bethu bokuchayeka kwephakheji buhlinzeka ngezinketho ezibalulekile, kodwa njalo, njengoba sengike ngacacisa, ngokugxila okubukhali ekukhuleni okwanelisayo.Ngokufanayo, besihlala sibheka lokhu ngokumelene nenye indlela yokwanda kokusabalalisa kwabanikazi bamasheya ngale kwe-dividend evamile.
Ekugcineni, ke umbono.Ngicabanga ukuthi usulitholile ithuba lokufunda lokhu.Impela ngeke ngiphinde ngikhulume ngakho.Kodwa kwanele ukusho ukuthi, sibheka ikusasa ngokuzethemba, futhi, ngokusobala, mina ngokwami ngijabule kakhulu ngamathuba engiwabona phambi kwethu.
Ngakho-ke ngalokho, singaya emibuzweni.Ngicabanga ukuthi sinawo ama-microphone aphansi.Kuzomele ungibekezelele ngoba ngiyajuquza kodwa ngizoma inqobo nje uma ungangidinisi, noma kunjalo ngingahlala kodwa lokho akusiyo inselelo.Lars
Lars Kjellberg, Crédit Suisse.Njengoba ungena kulo nyaka, kunjalo, wena -- kunemimoya eminingi.Lokho sikubiza ngokuthi intengo, nokunye, futhi sifuna ukungaqiniseki.I-Mondi esikhathini esidlule, njengoba ubonisile, ibonise ikhono elihle lokususa ukuvunguza kwemimoya, ngendlela yokuba khona ukuthuthuka kwesakhiwo kusisekelo sakho sezindleko kanye nomfutho oqhubekayo wokuthuthuka.Ungakwazi ukwabelana nathi ukuthi yiluphi uhlobo lwe-offset okungenzeka ube nalo ngo-2020?Ingabe ukutholile okunye kwalokhu?Ngiqondisa, ngicabanga, izindleko zokunakekela kumaphrojekthi we-CapEx nanoma yiziphi izindleko ongase ube nazo.Uphinde washo amathuba amaningi osawabona okuqhubeka nokuthuthukisa ibhizinisi, uma ucabangela ukuthi utshale imali eningi kusisekelo sempahla yakho kungajabulisa ukubona ukuthi ucabangani ngalolu daba?Futhi, iphuzu lokugcina, ngicabanga, ukhuluma nge-countercyclicality.Wena, ngokusobala, kulokhu -- okunye ukwehla okubonile, ubulokhu utshala imali ngalokho futhi, vele, kokubili kwi-Swiecie minority uqobo futhi kwesinye isiteji ngokwethuba.Yimaphi amathuba owabonayo kulolu hlobo lwe-countercyclicality kanye nokusebenzisa ishidi lakho lebhalansi?
Ngiyabonga.Ngicabanga, ngokusobala, njengoba usho, eyokuqala, ngokwemibandela yokuthi, ukuyibiza, ukuzisiza, ngicabanga, isifinyezo salokho okucelayo ngokokuqala.Ngokuqondile, ngokwesiqondiso se-CapEx, mayelana nomnikelo ovela kumaphrojekthi we-CapEx, siphakamisa ukuthi ungalindela inzuzo engaba yizigidi ezingu-EUR 40 ngo-2020 kumaphrojekthi we-CapEx, futhi lokho ikakhulukazi ukuthuthukiswa kwamaphrojekthi sebevele bathuma.Ngakho-ke abukho ubungozi bokubulawa okuningi kulokho.Ngokusobala iphrojekthi ye-Štetí, esiyigunyaze, utshalomali oluphumelele kakhulu lwama-EUR 335 wezigidi ekwenzeni i-Štetí ibe yisimanje kanye nokuthuthukisa i-Štetí ebiqhubeka kuze kube u-2019, bese sifuna umnikelo wonyaka ogcwele ngo-2020. Kuyajabulisa kakhulu lokho.
Ngokufanayo, ukuthuthukiswa komshini wokugaya i-Ruzomberok okhishwe ekupheleni konyaka ka-2019 manje, futhi sizophinde sibheke umnikelo wonyaka ogcwele kusukela kulokho.Ngokusobala, sisenkingeni yokutshala imali manje futhi -- kahle, ukwakha umshini omusha wephepha e-Ruzomberok ekupheleni konyaka, okufanele uthunyelwe, okuzosebenzisa enye yaleyo pulp, okwamanje isomiso se-pulp futhi ithengiswa emakethe evulekile.Ngakho-ke ukuxuba kuzobe sekushintshela ku-2021. Kodwa ngo-2020, sizoba negalelo elisheshayo kusuka ku-pulp eyengeziwe e-Ruzomberok.
Bese kuba nochungechunge lwamanye amaphrojekthi, okuhlanganisa nokuqedwa okuqhubekayo komsebenzi wethu we-Syktyvkar.Futhi okubalulekile, futhi, ukutshalwa kwezimali okuqhubekayo ekuguquleni imisebenzi yethu, lapho sikhula khona, ngokwesibonelo, e-Czech Republic kanye nasezimbonini zethu zaseJalimane -- noma ibhizinisi eligxile kakhulu embonini.Sifaka isitshalo esisha, imboni entsha yezikhwama e-Colombia futhi sakhela kakhulu kulawo mandla esinawo mayelana nenethiwekhi yomhlaba wonke ebhizinisini lethu lezikhwama.Futhi lokho -- ngicabanga ukuthi maningi amathuba aseduze nalokho.Kodwa esikhathini esifushane, lokho kugxilwe kakhulu lapho.
Ngokufanayo, wena, ngicabanga, ubhekisele eqinisweni lokuthi ngasohlangothini lwesondlo, sibe nenani eliphezulu kakhulu ngonyaka odlule ngokomphumela wezindleko zesondlo.Lokho kwakuyinhlanganisela yezici eziqhutshwa ingxenye yokuqaliswa kwephrojekthi e-Slovakia, isibonelo, kodwa futhi iqhutshwa yizidingo zobuchwepheshe e-Syktyvkar nokunye okunjalo.Lokho bekungukuthi -- silinganise ukuthi bekucishe kube ngumphumela wezigidi ezingu-EUR 150.Izokwehlela cishe ku-EUR ezigidini eziyi-100 iyisiqondiso sethu ngokuya ngomphumela ka-2020.Ngakho-ke lezo ziyashesha, njengoba ushilo, ama-offsets.
Ngicabanga ngokwemibandela -- futhi ngaphandle kwalokho, ngokusobala, ngaphambili kwezindleko zokufakwayo, akusho ukuthi okwethu okwenzayo, kodwa-ke, umjikelezo nawo uyasiza mayelana nokunciphisa ingcindezi oyibonayo emgqeni ophezulu kanye nokuncishiswa kwezindleko zokufakwayo. .Sibona e-Central Europe, izindleko zezinkuni, njengesibonelo, ziyehla.Kunezinkuni eziningi zenhlekelele ezizungezile, ezizoba nomthelela isikhathi esithile manje, futhi lokho, ngokusobala, ziwusizo ngombono wezindleko zokhuni.Iphepha lokugaywa kabusha, ngokusobala, licishiwe futhi, ukuthi isikhathi esingakanani futhi, nokunye, kuwukuqagela kwanoma ubani, kodwa kulesi sigaba, liwusizo ngokusobala.Bese kuthi amandla, amakhemikhali nokunye okunjalo, ngokusobala, ngomjikelezo wentengo wempahla ojwayelekile ukhombise ukukhululeka kwezindleko, uma kukhona.Ngakho sibona okunye kwalokho.Ngokusobala, ngaphezu kwalokho, siphinda imizamo yethu.Ngiyazi kuhlale kunomuzwa wokuthi senze okuningi kakhulu ngokwezindleko zethu siqu, kodwa sicabanga ukuthi kuhlale kunokuningi okumelwe sikwenze.Sihlale sinomuzwa wokuthi simatasa ekwenzeni izinqumo ezingaba nzima ngaleso sikhathi.Njengoba nazi, sikhiphe emshinini wephepha eTurkey kulo nyaka, sibone kuwumnyakazo ofanele ukwenziwa ngenxa yesakhiwo sezindleko lapho, futhi sikhiphe izindleko ezingaguquki ngenxa yalokho.Senze nokunye ukuhlela kabusha ukuze sikhiphe izindleko ohlelweni.Futhi lokho kuyinto eqhubekayo.Futhi njengoba ngishilo kweyethu -- esethulweni, iyingxenye ye-DNA, iyingxenye yalokho esikwenzayo futhi sizoqhubeka nokwenza lokho.Akukhona mayelana nokuhlelwa kabusha okukodwa kwe-big bang ngoba sisethubeni lenhlanhla yokuqina njengeqembu kulokho, kodwa sizoqhubeka nokushayela lawo mathuba.
Ngicabanga ukuthi ukhulume ngamathuba okukhula.Ngicabanga ukuthi ngike ngabhekisela kwezinye zezinto esesivele sizithwele.Ngikushilo ukuthi angikholwa ukuthi sesiphelelwe amandla mayelana namathuba azungeze isisekelo sempahla yethu.Kufanele kugxile kakhulu kulokho esikholelwa ukuthi yilezo zimpahla ezinenzuzo yangempela yokuncintisana phakathi nomjikelezo.Angicabangi ukuthi ngifuna ukungena emininingwaneni eminingi ngamanye amathuba esikhathi eside.Kwanele ukusho ukuthi noma yini esiyenzayo mayelana namaphrojekthi amakhulu esikhathini esizayo angeke ithinte, okokuqala, nakanjani 2020 CapEx ngisho 2021. Ngakho-ke yingakho ngiqiniseka ngokunengqondo ngesiqondiso engisinikezile ngo-2021. thanda ukuthola amathuba, ngokungananazi, wokukhulisa lelo zinga le-CapEx ngoba mina -- kodwa kuthatha isikhathi ukuthatha le miklamo yesikhathi eside.Kodwa thina -- njengomfanekiso, njengoba nazi, simise noma sihlehlise lowo mshini omusha wephepha owawungase ube khona e-Štetí.Sinawo umthamo we-pulp owedlulele, esiwuthengisa emakethe okwamanje, kodwa sinamandla okubheka ezinye izinhlelo zokusebenza zephepha le-kraft ezikhethekile lapho.Eminye yeminye imisebenzi yethu emikhulu ayikalungiswa ngokuya ngokuthi ingaletha maphi amathuba esikhathi esizayo.Ngakho-ke ngicabanga ukuthi maningi amathuba.Kodwa njengoba ngilokhu ngikugcizelela, ukusetshenziswa kwemali kuleyo misebenzi, esaziyo ukuthi izosibona phakathi nomjikelezo noma kwenzekani, futhi yilokho okubaluleke kakhulu kithi.
Mayelana namathuba e-countercyclical, angicabangi ukuthi ngiyoke ngithi nginawo -- ngikwazi ukubiza umjikelezo ongaba ubuwula.Ngicabanga ukuthi sinakho -- sibheke ukutshala imali ngomjikelezo.Ngicabanga ukuthi lokho kungcono kakhulu ongakwenza.Ngokusobala, uyazama futhi ulinganisele elakho -- ithuba lakho langempela lizothathwa kakhulu ekugcineni okuphansi komjikelezo kunesiphetho esiphezulu.Ngokufanayo, ukulinganisa kwempahla akulandeli imijikelezo yentengo, nokunye.Futhi kusenemali eshibhile eningi lapho ejaha amafa.Futhi ngakho-ke umuntu kufanele ahlakaniphe kakhulu mayelana nendlela owabheka ngayo lawo mathuba.Kodwa ngicabanga ukuthi into ebalulekile ngamasu, sinezinto eziningi esingakhetha kuzo ngaphakathi kohlaka esisebenza kulo, kufanele ube ngosomathuba ngandlela thize, futhi siyaphila kulawo mathuba, futhi sizobona ukuthi singawasebenzisa yini ngokunenzuzo.
NguBarry Dixon waseDavy.Imibuzo embalwa.Andrew, mayelana nezinkinga zesikhathi esifushane, ungase usinike umqondo mayelana nokuthi isimo esifunwayo sibukeka kanjani, ikakhulukazi ohlangothini lokupakisha lwebhizinisi, kokubili kuthayela nokuvumelana nezimo, uma kubhekwa ukusebenza okuqinile. obukade unabo ngothayela -- ikakhulukazi ngo-2019 nokuthi ubukeka kanjani lowo mbono?
Okwesibili, ungasinika umqondo wokuthi izingxoxo zamanani zihamba kanjani ohlangothini lwebhodi lokuqukatha kanye namathuba okuphumelela kulokho kanye nesikhathi?
Bese kuthi okwesithathu, ngibuyela nje kuhlelo lokwabiwa kwezimali futhi mhlawumbe ukulandela nje okuvela kwa-Lars, usukhombe izigaba ezi-2 zokupakisha njengezindawo zokukhula, futhi ukhombe, ngicabanga ukuthi, uhlobo lwabashayeli. kukho kokubili lokho mayelana nokusimama, i-e-commerce kanye nokwakhiwa komkhiqizo.Uma ubheka -- futhi ucabanga mayelana nokwabiwa kwezimali, uzibona kuphi izikhala kulawo mabhizinisi angu-2 ngokuya lapho udinga ukuchitha khona izinto eziphilayo noma nge-M&A ukuze ufeze lokho kusimama, ukuhweba nge-inthanethi kanye namathuba omkhiqizo?
Kulungile.Yebo, ngicabanga, okokuqala, ngokwesithombe esifunwayo, njengoba usho ngokufanelekile, ngasohlangothini lukathayela, sijabule kakhulu ngokusebenza kwebhizinisi lethu leCorrugated Solutions ngonyaka odlule.Ngokusobala, sigxile esifundeni.Kodwa njengoba ngishilo, senze -- sathola ukukhula kwebhokisi lonyaka ngo-3%, okungukuthi - engicabanga ukuthi ukusebenza okunamandla kakhulu.Ngokwengxenye kuwukubonakaliswa okusobala kwezimakethe esisebenza kuzo, ebeziqine kakhulu.Kodwa ngesikhathi esifanayo, ngicabanga ukuthi siphinde sadlula ukukhula kwemakethe, okukhuthaza kakhulu.Futhi lokho bekuwukugxila okwedlulele ensizakalweni yamakhasimende futhi ngokusobala, muningi umsebenzi wokuqanjwa kabusha ebesiwenza namakhasimende ethu.Sibona ukukhula okuningi ngasohlangothini lwe-e-commerce, futhi lokho kukhuthaza kakhulu, futhi siyaqhubeka nokusekela lokho ngenkuthalo.Sinezinhlelo ezithile eziqondile mayelana nalokho.Futhi-ke, sitshala imali ukuze sisekele lokho kukhula, futhi lokho kukhuthaza kakhulu.Futhi impela, sawuqala unyaka, futhi, ngamandla kakhulu kulolo hlangothi.
Mayelana nebhizinisi eliguquguqukayo, ngicabanga, ngokusobala, -- kunezingxenye ezihlukile kulokho.Njengoba ngishilo kakade ohlangothini lwe-flexibles yabathengi, lokho kufakazela ukuqina okukhulu.Kalula nje, ungasho ukuthi ube nomthelela omncane kakhulu wokwehla ngokwezinga lokubonakala kwezinombolo zevolumu nokunye, futhi lokho kuyakhuthaza kakhulu.Kusebhizinisini lezikhwama, lapho sithe u-2019 unzima kakhulu.Manje iYurophu, iYurophu izinzile, ikude kancane.Lapho sibona khona ubuthakathaka ikakhulukazi ezimakethe zethu zaseMpumalanga Ephakathi naseNyakatho Afrika, ezibaluleke kakhulu kithi.INyakatho Melika nayo ibe yiphuzu elibuthakathaka ngo-2019. Okukhuthazayo ukuthi uma ngibheka isimo sokuhleleka, manje sekuyizinsuku zokuqala onyakeni, kodwa isimo sokuhleleka esiya ku-2020 empeleni -- sikhuphuka ngokuqhathaniswa nesikhathi esiqhathanisekayo ngonyaka odlule. .Njengoba ngisho, yizinsuku zakuqala, futhi umuntu akufanele akuhumushe ngokweqile lokho, kodwa kuyakhuthaza.
Manje njengoba ngishilo, ikakhulukazi kulezo zimakethe ezithunyelwa ngaphandle, okuningi kuqhutshwa usimende, futhi umuntu uzobe ekubuka lokho.Futhi-ke, izinkinga ze-macroeconomic ezithinta isidingo sokwakha, nokunye, zibalulekile.Kodwa akufanele futhi kubonakale ukuthi lezi izimakethe ezifanayo.Kukhona noma iyiphi inombolo yezinto ezahlukahlukene ezithinta iphothifoliyo iyonke.Kalula nje, bekuthambe kancane ngonyaka odlule, kwaqala ukukhuthaza kakhulu kulo nyaka, kodwa kuseyizinsuku zakuqala kulolo hlangothi lwezinto.
Izingxoxo zamanani.Ngisho, njengoba usho, njengoba siphume ngokunyuka kwentengo, kokubili ohlangothini olugaywe kabusha futhi ngokuphambene kakhulu ku-kraftliner engaxutshiwe.Sikholelwa ukuthi lokhu kusekelwa kahle kakhulu.Njengoba ubungalindela, sibona amaleveli e-inventory enziwa ajwayelekile ukuthi abe ngaphansi ngisho kancane.Sibona izincwadi zoku-oda eziqinile, futhi lokho kuhlale kuyisisekelo esiqinile sokuphuma nokukhuphuka kwamanani.Kuyizinsuku zokuqala kuleyo nqubo.Ngakho-ke kunzima kakhulu ukukunikeza isiqondiso esiqinile, kodwa sikholelwa ukuthi kufanelekile, futhi sisezingxoxweni namakhasimende ethu okwamanje.
Mayelana nokwabiwa kwezimali, ngicabanga ukuthi impendulo emfushane ithi angiziboni izikhala.Ngiyawabona amathuba, mhlawumbe ngizwakala njenge-CEO lapha.Ngicabanga -- cha, ngicabanga ukuthi kuningi esikubonayo esingaqhubeka sikushayele ebhizinisini lethu.Futhi-ke, uma singakwazi ukwengeza lokho ngokuletha ikhono, kokubili noma ngabe ngokokufinyelela kwendawo kanye/noma ulwazi lwezobuchwepheshe olunganezela lokho esinakho, singavuleleka kakhulu ekubhekeni lokho.Kodwa njengoba ngisho, angicabangi ukuthi kukhona indawo eyodwa lapho singaphansi kwalolo daba.Ngisho, ngokusobala, ibhizinisi lethu lezikhwama liqine ngokwedlulele, futhi sizoqhubeka nokukhulisa lokho ngokukhula ngokwandayo.Kepha empeleni, inhlokodolobha ongayisebenzisa kulokho, ekugcineni emhlabeni jikelele, imakethe ye-niche efanelekile ibambekile.
Ohlangothini lwesikhala sepulasitiki, sinesikhundla esiqine kakhulu eYurophu.It -- kufanele ukubheke kakhulu ngokwesisekelo semakethe ngemakethe.Kuvame ukuba nezincazelo ezijwayelekile zokuthi iyini imakethe ye-flexibles.Isibonelo, siqine ngokwedlulele kumasegimenti esisebenza kuwo. Singakwazi yini ukukunweba lokho ngokunamandla, kodwa kufanele kube into esiqiniseka kakhulu ukuthi siyazi ngayo, futhi inomthelela ebhizinisini lethu elibanzi.
UJustin Jordan wase-Exane.Okokuqala, Andrew, ngifuna nje ukusho egameni lomhlaziyi nomeluleki womphakathi, ukuthi ngiyakuhalalisela ngokuqokwa kwakho njengo-CEO.Nginesiqiniseko sokuthi sikufisela impumelelo eminyakeni ezayo.Nginezinhlobo ezi-3 zemibuzo.Okokuqala, eyodwa, eyesikhathi esifushane impela futhi ezimbili, uhlobo lwethemu eliphakathi.Okokuqala, eyesikhathi esifushane.Ngicabanga, uma sicabanga emuva osukwini lwe-Štetí Capital Markets Day ezinyangeni ezimbalwa ezedlule, ukhulumile noma ubonise ngempela, ngicabanga ukuthi bekungokwe-e-commerce kumuntu omkhulu we-e-commerce womhlaba wonke, futhi waqokomisa ezimbalwa. okungenzeka esikhundleni sepulasitiki ngamaphakeji asekelwe ephepheni wezinto ezifana ne-pasta.Ingabe kukhona ongakusho namuhla mayelana nokuthi lezo zilingo ziqhubeka kanjani noma imiyalo yakamuva noma okuphumelela kulolo hlobo lwendikimba yokusimama?
Okwesibili, kuqhubeke, ngicabanga, i-Slide 24 sakho, kucace bha ukuthi uhlobo lwezigaba ezibalulekile zokukhula eziya phambili ngicabanga ukuthi, i-Corrugated and Flexible Packaging, esobala ngokusobala.Kusho ukuthini lokho ngebhizinisi le-Uncoated Fine Paper?Ngokusobala, ngibamba ngokugcwele, kodwa emhlabeni wonke kubiza kakhulu ukuncintisana.Kodwa uma kubhekwa uhlobo lomoya ovunguzayo wesakhiwo, ikakhulukazi kulelo bhizinisi, ingabe kufanele sikubheke njengenjini ekhiqiza ukheshi yokuxhasa ukukhula kwezinye izigaba ezimbili eziwumgogodla zokukhula kwesikhathi eside?
Bese kuthi okwesithathu, ngicabanga, sakhela phezu kwalokho, uma sicabanga ngesiqondiso sakho se-'21 CapEx, i-EUR eyizigidi ezingu-450 kuya ku-EUR 550 wezigidi, okuthi, uma ngingabuthuntu, ikuguqule ube umshini wokugeleza kwemali wamahhala.Ngokungangabazeki, ingabe lokho kukunikeza ukucabanga emuva ngesabelo sakho esikhethekile sikaMeyi 2018, ingabe lokho kuvula ithuba lenzuzo eyengeziwe engaba khona ekhethekile ngo-'21?
Ngiyabonga.Ngokujwayelekile ukuncoma kulandelwa imibuzo enzima.Cha. Ngicabanga ukuthi -- ngisho ukuthi, ngokuya ngokuwina, ngeke ngingene emininingwaneni ethile kulokho, kodwa ngicabanga ukuthi, kokubili ngaphambili kwe-e-commerce, sikubonise i-MailerBAG, isibonelo, i-MailerBAG esiyisebenzisayo, sikuphusha lokho kakhulu kumakhasimende ethu e-e-commerce, futhi yamukelwa kahle kakhulu.Kungokwemvelo -- kungumkhiqizo osobala ngoba ususa konke ukugoqa kwazo nezinto okungenzeka ukuthi uyazithola -- lezo incwadi yakho engena kuzo. Manje isicoceke kakhulu, isimeme, esigaywa kabusha, esivuselelekayo, yonke into, isikhwama sephepha, futhi lokho kuthola impendulo enhle kakhulu.Futhi ngakho kuyasikhuthaza kakhulu lokho.Ngokufanayo, ngasohlangothini lokusimama, senza umsebenzi omningi, njengoba uzwile kuyo yonke imikhiqizo othathwe ngayo e-Steti.Futhi lokho ukugxila okuqhubekayo.Futhi, kufanele kubhekwe njengephothifoliyo.Ngikhuthazekile kakhulu.Uma ubheka izinombolo zethu mayelana nokukhula okuzungeze iphepha lethu le-kraft elikhethekile, ngokubanzi, elingena kulawo maphepha asebenzayo, kodwa, ngokusobala, nokungena kuwo wonke isikhwama se-shopper esilula nokunye okunjalo, ubona okwangempela. ukukhula kulelo bhizinisi, futhi benze kahle kakhulu futhi bayaqhubeka nokuthuthukisa leyophothifoliyo kanye naleyo makethe, ngokungananazi, ngoba ngandlela thize, iyimakethe entsha ngokuphelele umuntu ayithuthukisayo lapho.Kuningi inqubekelaphambili enhle lapho, futhi sizoqhubeka nokunikela ngamandla amaningi ukushayela lokho.
Mayelana nebhizinisi elihle lamaphepha.Kuyibhizinisi elihle.Sinesikhundla esiqine ngokwedlulele, njengoba ngike ngasho.Izimpahla eziyinhloko lapho zonke ziyimpahla exubile.Ngamanye amazwi, bakhiqiza kokubili iphepha elihle kanye ne-pulp, engasetshenziselwa imakethe yephepha elihle, inqwaba ye-pulp, isibonelo, evela eNingizimu Afrika, ithengiswa e-Asia ezimakethe zezicubu kanye nalokhu nokunye nokunye. , ngokusobala, ukwenza amamaki ebhodi lokuqukatha futhi.Ngibona ikusasa lalelo bhizinisi liwukuthi -- sizoqhubeka nokushayela futhi sihlale sincintisana kakhulu emakethe yamaphepha enhle.Ngikholwa ukuthi ungakwazi -- kufanele ube umnikazi omuhle wanoma iyiphi impahla yakho, futhi sizoqhubeka nokutshala imali ngendlela efanele ukuze sizigcine zincintisana.Kepha, vele, ukuguquguquka ngokuya ngokukhula kwe-CapEx kugxile kakhulu kulezo zimakethe zokupakisha ezikhulayo.Ngomfanekiso, ngokusobala, iphrojekthi yakamuva e- -- ise-Slovakia kulokho okubiza ngokuthi isigayo sephepha esihle sendabuko, kodwa yenza leyo mikhiqizo ehlanganisiwe ye-containboard, sisebenzisa leso sisekelo sezindleko esihle esinaso lapho, kodwa ukuze sikhulise ukukhula. izimakethe zokupakisha, futhi ngicabanga ukuthi sizobona amathuba aqhubekayo alokho.Kepha ngasikhathi sinye, ibhizinisi lamaphepha elicolekileyo lihlala linokuncintisana kakhulu, futhi sizoqhubeka nokutshala imali kulo njengoba kufanele.
Mayelana nokheshi, ngivuma ngokugcwele ukuthi sikhiqiza ukheshi kakhulu.Ngicabanga ukuthi ungizwile ngisho izikhathi ezimbalwa, futhi ngizoqhubeka nokusho ukuthi ngencazelo, iCapEx, njengoba ngike ngasho, izokwehla ngo-2021, ingekho enye into.Ngikubeke kwacaca, nokho, siyawabona amathuba amaningi eqenjini, futhi sizobe sibheke ukuxhasa ukukhula kwalawo mabhizinisi, kodwa kufanele kulinganiswe ngokusobala kakhulu kuzo zonke ezinye izindlela.Futhi enye yezindlela ezihlukile, vele, ukubuyisela imali kubanikazi bamasheya, futhi siyazilinganisa ngokuqhathanisa nalawo mabhentshimakhi, uma sisho njalo, ngaso sonke isikhathi.Ngicabanga ukuthi abanikazi bamasheya bethu bazobona kuwumthwalo wethu ukuthi sibheke lezo zinketho zokukhula ezingadala inzuzo kubo, futhi yilokho thina, njengabaphathi, esijutshwe ukuba sikwenze.Kodwa ngesikhathi esifanayo, sivuleke kakhulu uma lawo mathuba alungile engaveli ngendlela efanele, njengoba sibonise emuva -- ngemuva kwemiphumela ka-2017.Siphinde silungiselele ukubheka okunye ukusatshalaliswa uma leyo kuyindlela efanele.
UDavid O'Brien waseGoodbody.Okokuqala, usho nje ukuthi ukugcinwa kwentengo yebhokisi kube kuhle.Bheka, ngiyazi ukuthi kuzocaciswa kakhulu enkampanini enikeziwe uma kubhekwa ukwehluka okuzungeze lawo mabhizinisi.Kodwa ungasinika ulwazi lwakho mayelana nokuthi izintengo zamabhokisi zikhuphuke kangakanani ngo-2018 futhi ziye zahamba kuphi kusukela lapho?Futhi ngiyacabanga, ingcindezi iyaqhubeka ukuhlala kumanani entengo lapho.Kufanele sicabange nini ngazo ezidlulayo (ezingezwakali) futhi ingabe lokho kuncike kuphela kunoma iyiphi impumelelo ohlangothini lwebhodi lebhokisi?Futhi mayelana nokukhuphuka kwentengo ye-containerboard, kalula nje, ungasichazela ukuthi yini eshintshile kusukela ngoMeyi wonyaka odlule, njengoba isidingo sicishe sifane?Njengokuthi, ingabe i-inventory yehle kangako?Futhi ungakwazi yini ukulinganisa ukuthi zifike kuphi ukuze zikunike ithemba elingaka mayelana nokwanda okwenziwayo?
Ebhizinisini lama-flexibles, kuyacaca futhi ukuthi kukhona ingcindezi ezayo.Uma sibheka iphrofayili yemajini engu-'18 ukuya ku-'19, isuka ku-17% iye cishe ku-20% wemajini we-EBITDA.Ngabe sibuyela emuva ku-17% ngo-2020?Noma ucabanga ukuthi ungabamba ulayini unikezwe ezinye zezinto ezinciphisa ozishilo?
Okokugcina, I-Engineered Materials, imbuyiselo yakho enzuzweni eqashwe ngo-13.8% futhi ibambezela ngokusobala izinga leqembu elibanzi.Yiziphi izinjongo zesikhathi esimaphakathi lapho?Yini efinyelelekayo, uma kubhekwa ezinye zezingcindezi oziphawulile komunye wemikhiqizo yakho ebalulekile?
Kulungile.Ngicabanga ukuthi, okokuqala, ezintengo zebhokisi, ngicabanga ukuthi ukhulume ngo-2018. Angiqiniseki ukuthi lokho kwakuyizintengo zebhokisi -- ngokucacile, ngisho, uma umuntu ebheka emuva emlandweni, sabona amanani ebhodi lebhokisi. bakhuphuke kakhulu ngo-2018 bese bephuma emuva ekupheleni kuka-'18 ngaphambi kokuthi baqale ukuphuma kancane.Izintengo zamabhokisi zazilandela lokho.Abaguquli babone imajini ingena ngo-2018 njengoba babehlale bejaha ibhokisi -- amanani ebhodi lokuqukatha akhuphuka.Futhi kwathi ngo-2019, ngempumelelo, lokho kwaphenduka ekhanda lakhe, njengoba ubonile, izintengo zebhodi leziqukathi ziyehla, nezintengo zamabhokisi zaphakama kahle kakhulu.Lokho akusho ukuthi izintengo zamabhokisi bezingezi ngokuphelele, kepha uma kuqhathaniswa nokwehliswa kwentengo ye-containerboard, kusobala ukuthi bebemile.Futhi ngicabanga ukuthi, ngezindlela ezithile, kudlule obekulindelwe uma ubheka imakethe ngokujwayelekile.Ngakho-ke sikubonile ukunwetshwa kwemajini ngokusebenzisa -- ebhizinisini lokuguqula, noma ngokwemibandela ephelele, izintengo zamabhokisi, njengoba ngisho, ngiyagcizelela, bezilokhu zehla ngezinga elithile.
Ngicabanga ukuthi umbuzo ka-2020 uhlala useduze kakhulu nohlangothi lwebhodi lebhokisi.Ngokusobala, siyabona, futhi ngizoza ukuthi kungani sikholelwa ukuthi uhlelo lwentengo ye-containerboard lufanelekile.Kepha uma ubona i-containerboard iqala ukuncipha futhi ikhuphuke, ngicabanga ukuthi kukhona konke ukuthethelelwa kwamanani entengo yebhokisi angawalandeli phansi, kodwa uma kukhona, azinzisa futhi alulame.Kepha kukhulu, ngokubona kwami, kuwumsebenzi wohlangothi lwebhodi lebhokisi.Ngicabanga ukuthi, ngokungagwegwesi, unyaka ka-2018 bekuwunyaka onzima kubaguquli, u-2019 wawuphambene.Iluphi uhlobo lwemajini ehlala isikhathi eside yeziguquli mhlawumbe into ephakathi.
Ohlangothini lwebhodi leziqukathi, ngisho, yini eshintshile kusukela ngoMeyi odlule?Ngisho, into eyodwa amanani aphansi.Njengoba nazi, kusukela ngoMeyi ngonyaka odlule, amanani ehla.Ngiqonde ukuthi bazinzile kwikota yesithathu, kwase kuba nokunye ukuguguleka kwentengo ku-Q4 futhi kancane ekuqaleni kwalo nyaka.Ngicabanga, ngokucacile, esikubona phansi manje, njengoba ngisho, isimo sokuhleleka esiqine kakhulu.Sibhukhelwe ukuphuma.Ngokuvamile, njengoba siqonda, amazinga e-inventory embonini yonkana anengqondo ukuya phansi futhi siphumile, njengoba ushilo, besingababokuqala abaphuma, ngikholwa ukuthi, ekukhuphukeni okugaywe kabusha.Kubonakala sengathi kube nabanye abalandele lokho, futhi sisezingxoxweni namakhasimende ethu.Angikwazi ukukucacisela ngaphezu kwalokho, njengoba sesike saxoxa ngaphambili.
Ngokwebhizinisi eliguquguqukayo kanye nezingcindezi ze-margin ozishilo lapho.Yebo, ngisho, sicace bha ukuthi ohlangothini lwephepha le-kraft, sibona amanani ehlile.Ngakho-ke sibone ingcindezi phakathi nonyaka odlule, kodwa ngenxa yesimo senkontileka yebhizinisi eliningi lephepha le-kraft kanye nebhizinisi lezikhwama, kuhlale kunomthelela omncane phakathi kokuthi intengo yendawo ikuphi nokuthi -- lokho okwenzayo. 'bayaphumelela, futhi kunomphumela oholayo futhi.Ngakho-ke okwenzekayo manje ukuthi, ngokusobala, kudingeke ukuthi silethe kabusha intengo yephepha le-kraft emananini aseduze ebhizinisi lenkontileka yonyaka elisemakethe futhi elinenani layo. Nezikhwama, ngoba uxoxisana ngezinkontileka zakho ngesikhathi esifanayo. , zaziyobizwa kabusha ngaleso sisekelo.Ngakho lokho kusobala emakethe.Sikwenza kucace ukuthi, lokho kusho ukuthi siqala unyaka ngephepha le-kraft futhi ngenxa yalokho, nezikhwama ngamanani aphansi kunalawo esiwazuze ngokwesilinganiso ngonyaka odlule futhi lokho kudinga ukuba kufakwe emaphethelweni.
Mayelana nokunciphisa lokho, kukhona, njengoba ngishilo, ukukhululeka kwezindleko zokufakwayo kakhulu kulo lonke ucezu, futhi lokho kuthinta izinto eziguquguqukayo noma ibhizinisi lephepha le-kraft, ikakhulukazi.Siphinde futhi sithole isivimbeli ebhizinisini lezikhwama ngoba ngokwemvelo ungalindela ukuthi sigcine ezinye zezinzuzo zamanani aphansi wephepha.Ibhizinisi lethu lepulasitiki eliguquguqukayo ngokusobala alithintwa yilokho, futhi sikholelwa ukuthi kukhona ukukhula okuqhubekayo lapho.Ngicabanga ukuthi, okubalulekile, ohlangothini lwezikhwama, ngonyaka odlule kwaba unyaka onzima ngokwevolumu.Ngokuqinisekile sibona i-pickup kulokho.Njengoba ngishilo kakade, isimo sokuhleleka sithuthukisiwe, futhi sishayela kakhulu lokho ukuze sibuyise enye yaleyo volumu elahlekile esiyibonayo, futhi, kunjalo, enenzuzo mayelana nokutholwa kwe-margin.Ngakho-ke ngicabanga ukuthi ziningi izinto, kepha esikhathini esifushane, ngokuphelele, leyo mkhawulo ingaphansi kwengcindezi uma iqhathaniswa nalapho yayikhona ngo-2019.
Ngokuphathelene Nezinto Ezithuthukisiwe, ngicabanga mayelana nembuyiselo yemali, ngisho, ngokusobala, okokuqala, ibhizinisi elihluke kancane.Siyaqaphela ukuthi ngokwesakhiwo salelo bhizinisi ngokuhlobene, isibonelo, amabhizinisi amaphepha.Sikubeke kwacaca ukuthi singalindela enye ingcindezi ye-margin kulo nyaka kuleyo ngxenye endaweni yezingxenye zokunakekelwa komuntu siqu, ikakhulukazi.Ngokusobala sisebenza kwezinye izindawo ukuze sithuthukise eminye imikhiqizo ukuze sinciphise lokho kucindezela kwentengo lapho, kodwa ngeke kususe ngokuphelele.Ngakho-ke sicace bha ukuthi imajini izoba ngaphansi kwengcindezi eyengeziwe uma kuqhathaniswa nokulindelekile kuka-2019 - umphumela kulezo Engineered Materials.Kepha njengoba ngishilo ekuqaleni, ngicabanga ukuthi sinezinto eziningi ezithokozisayo uma kukhulunywa ngakho, njengoba ngisho, ukukhishwa, ukumbozwa kwe-extrusion kanye nezinye izinhlelo zokusebenza zefilimu lobuchwepheshe uma kukhulunywa ngokubheka ngokuphelele ezinye zalezo zixazululo ezisimeme zokupakisha. sishayela njengebhizinisi.Futhi ngakho-ke sidinga ukuqhubeka nokutshala imali kulabo futhi sishayele kulokho.Ngeke kube inkinga yesikhathi esiseduze, kodwa kakhulu njengokuguquguquka kwesikhathi eside.Ngicabanga ukuthi ngizophinda ngithathe enye phansi bese sithola izithandani ezintanjeni.
UCole Hathorn ovela kuJeffries.U-Andrew, ulandela nje indlela yokwenza amakhasimende akho athenge imodeli yephepha lapho kungenzeka khona kanye nepulasitiki uma iwusizo.Ukuthenga nokuba nabo kuyifeza kanjani yonke imigomo yabo ka-2030, 2050?Futhi yini ezosheshisa lolo shintsho?Ingabe udinga ngempela ukubona umthetho we-EU noma into efana naleyo ngezintela ukuze beze kuwe futhi bathi, "Sifuna ukuba yinzuzo yokuqala kanye nomhambisi wokuqala, uyindawo engcono kakhulu yokusinikeza lezo zixazululo?"
Yebo, ngicabanga -- ngisho, ngokucacile, umthetho uyasiza.Futhi ngisho ukuthi, sikubonile ngokusobala kakhulu ebhizinisini lezikhwama lapho izikhwama ze-shopper futhi kukhona i-EU-wide push yokunciphisa ipulasitiki, izikhwama ze-shopper ezisetshenziswa kanye, nokuthi, yiqiniso, iziphathimandla ezahlukene zisebenzise imithethonqubo ehlukene, kusukela ekukhokhiseni intela kuya ekuvinjweni kwezikhwama ze-plastic shopper ezisetshenziswa kanye.Futhi-ke, lokho kudale ngokushesha isidingo esikhulu sokucindezela, okuyinto enhle kithi.Ngakho-ke, isizathu sokuthi sitshale futhi emsebenzini wethu we-Steti ukuze sinikeze lowo mthombo owengeziwe wephepha ukuze uhlangabezane nalokho kunikezwa.Ngicabanga ukuthi ngale kwalokho, ngokusobala, kukhona nezinhlelo zokuthi -- zezintela ezibanzi kwezinye izicelo zepulasitiki, ngokuvamile singakusekela lokho.Sicabanga ukuthi kufanelekile ngoba inselele enkulu nakho konke lokhu ukufaka leyo zindleko endaweni yesisombululo sepulasitiki noma isisombululo esimeme kancane, uma sisho.Futhi-ke, intela ingenye yezindlela zokufeza lokho.
Kodwa ngicabanga ukuthi okubalulekile okuthandwa ngabathengi kanye nokuqwashisa ngabathengi kukhulu futhi akufanele kuthathwe kancane njengokuphusha okukhulu lapha ngoba, njengoba wazi, iningi lamaqembu amakhulu e-FMCG abeke izitatimende ezinkulu mayelana nokwenza ngcono ukusimama kokupakishwa kwawo, futhi manje bafuna ukwesekwa nokuthi bangakufeza kanjani lokho.Futhi, sinezingxoxo eziningi nawo wonke amakhasimende ethu ekusekeleni lokho, futhi anentshisekelo enkulu kuzo zonke izixazululo okufanele sizinikeze.Futhi njengoba ngisho, kulapho engikholwa khona ukuthi sinawo ngempela umnikelo ohlukile ngoba sikhona -- singanikela ngohlelo oluphelele lwama-substrates.Futhi njengoba ngifaka kuleso silayidi esisodwa, iphepha -- singajabula kakhulu ukuhlinzeka ngamaphepha, isixazululo sayo yonke into, kodwa akunjalo.Futhi ngokusobala, kunezicelo eziningi lapho imikhiqizo yethu yepulasitiki yenza indima ebalulekile.Ngisho indaba yokumoshwa kokudla, engicabanga ukuthi izoba yinkulumo evame kakhulu mayelana nezindaba zemvelo.Cishe i-1/3 yokudla epulazini ayifiki emfolokoni.Ngisho ukuthi inombolo emangazayo.Ungaphakela i-Afrika yonke kanye ne-Europe kuhlangene nalokho okumoshiwe.Futhi ngakho-ke ungacabanga noma yini enganciphisa lokho kumoshwa kokudla kufanele kube inzuzo enkulu yemvelo.Ngakho-ke kufanele sithole ukulingana phakathi kokushayela okusekelwe ephepheni elihlanzekile, futhi sicabanga ukuthi kunamathuba amahle, kodwa futhi ukuqaphela ukuthi kuyohlale kunendawo yalezo zixazululo zepulasitiki, ezingathuthukisa ukusha kokudla, kukunike izinga elifanele lokulula. , nokunye, ukuze ungachithi ukudla.Futhi lokho -- kukhona ibhalansi lapho, futhi, ngicabanga, sinamathuba amaningi futhi, njengoba ngisho, simi endaweni enhle yokuhlinzeka ngazo zonke lezo zixazululo.
Nginezi-2. Ngibheka iSlayidi #7, ngibheke ishadi elinamatshe futhi ngokusobala ukubuyisela kwehle ngo-2019 ngamanani.Kepha ake sithi, ukugqashuka kuka-2018 njengohlobo lwebhampa, bekufana nokugeleza okungu-19% kuye kwangama-20%.Uyakubona lokho njengokugeleza kwangaphakathi, njengo-19%?Futhi ingabe lolo hlobo lomkhawulo lapho ungakhuphula khona ukuzisiza kwakho uma kwehla ngezansi?Futhi umbuzo wami ubheke kakhulu ku-2020 ngoba uthola amanye alawa maphrojekthi esakazwa, futhi ngokusobala, yimali esetshenziswa lapho uzokhuphuka khona, futhi mhlawumbe nemicabango ethile mayelana nalawa mandla.
Kulungile.Ngicabanga ukuthi ngokuya ngokuzisiza, asizimisele -- asinqumi izenzo zethu lapho ngokusekelwe kuzimbuyiselo esizitholayo nganoma isiphi isikhathi.Sicabanga ukuthi ukushayela izinhlelo zethu zokuzisiza kuyinto okufanele ngabe siyenza ngaso sonke isikhathi.Ngokusobala, ukugxila kokwenzayo kunqunywa indawo ekuzungezile nganoma yisiphi isikhathi.Futhi-ke, ekuwohlokeni komnotho, ungaphinda uphoqe okwengeziwe ngokuya ngochungechunge lwakho lokuhlinzeka, futhi leyo yinto thina, ngokusobala, esizoqhubeka nokugxila kuyo ekwenzeni kanjalo.
Kodwa ngesikhathi esifanayo, sicabanga ukuthi kuyinto efanele ukuyenza ukuqhubeka nokutshala izimali, njengoba sengishilo kakade, ngomjikelezo.Sibona amathuba amaningi okungafanele sibe namahloni okutshala izimali ezimpahleni ezifanele noma ngabe esikhathini esifushane, i-margin eyengeziwe noma i-ROCE ehlanjululwayo ekubuyiseleni okungamaphesenti angama-20.Ngiqonde ukuthi, uma siqiniseka ukuthi singasebenzisa imali enkulu emazingeni adlula ngokunethezeka izindleko zethu zekhephithali, kufanele sibheke ukwenza lokho, ngokusobala kulinganiswe nazo zonke ezinye izindlela, ukusetshenziswa kwaleyo mali, futhi yilokho esizokwenza. qhubeka njalo ulwela ukwenza.
Yebo.Ngakho-ke okulandelayo kuzoba yilokho empeleni okukuvikela kukho -- yini empeleni ekubambezelayo ohlotsheni lokuhambisa amanye ala mathuba engeziwe phambili?Njengoba ushilo umthamo we-pulp wemakethe owedlulele, lapho ungabheka khona iphepha elikhethekile le-kraft.Kuyimakethe lapho unobuholi obuphelele ezikhwameni zokuthenga.Ingabe kuwukukhathazeka okwengeziwe ngomjikelezo?Ingabe amandla okuphatha?Ingabe udinga ukuqeda amaphrojekthi aqhubekayo kuqala bese, ngokusobala, ucabange ngamasha?Noma ingabe izikhathi ezinwetshiwe zobunjiniyela ezidingekayo?
Konke okungenhla.Cha, ngisho, ngokucacile, kufanele ubeke phambili, futhi sinohlelo olukhulu lwe-CapEx.Uma usebenzisa ama-EUR 700 million kuya ku-EUR 800 million ngonyaka, muningi umsebenzi.Kudingeka insiza yangaphakathi eminingi futhi si-- futhi kufanele ubeke phambili kulokho, futhi sikholwa ukuthi siyakuthola lokho.Futhi awufuni ukuthatha ubungozi obungadingekile ekulethweni kobuchwepheshe.Kodwa ngesikhathi esifanayo, yebo, kufanele uqaphele imakethe.Ngokuqondile kakhulu, isibonelo, ukubuyela kulowo mshini we-Steti.Sawuhlehlisa lowo mshini ngoba sabona omunye umthamo eza emakethe ngaleso sikhathi.Futhi sicabange ukuthi ngeke silahlekelwe yile nketho ngokubamba isikhashana futhi sibone ukuthi izinto zenzeka kanjani.Futhi kungase kube nengqondo ukubuya futhi ukuvakashela lokho futhi.Ngakho lezi yizinto okufanele uzicabangele.Ngakho-ke awunjalo -- awulokothi ubheke izinto ngokuhlukana kwazo zonke izimakethe eziguquguqukayo.Kodwa ngokusobala, ngasikhathi sinye, sinakho ukunethezeka kokukwazi ukutshala imali ngomjikelezo futhi yilokho esizoqhubeka nokulwela ukukwenza.
Futhi futhi, siyakuhalalisela endimeni entsha, futhi.Mhlawumbe umbuzo wefilosofi.Inqubo yakho yokucabanga mayelana nokuhlanganiswa kwemboni eYurophu ebhodini lamabhokisi.Sike sakhuluma ngakho ngaphambilini, kodwa mhlawumbe ukuze nje sivuselele ukuthi ubona noma yikuphi ukufaneleka kwakho?Ingabe yinto ongaba nentshisekelo yokubamba iqhaza endimeni yakho entsha?Noma ingabe kuseyinto ozoyigcina -- othanda ukuyikhulisa ngokuphilayo?
Njengoba ngishilo, ngicabanga -- ngiyabonga, Brian, ngombuzo.Ngicabanga ukuthi sesibuyele ezintweni eziza kuqala kithi.Sicabanga ukuthi sinezinketho ezinhle zokuqhubeka nokukhulisa ibhizinisi lethu.Kodwa ngokufanayo, i-M&A iyinketho yethu, futhi kufanele siphile kulawo mathuba, futhi sizoqhubeka nokuwafuna.Ngicabanga ukuthi ukuhlanganisa ngokwakho -- kunokukhanga okuthile, kodwa kufanele kubonakale ekukhanyeni kwenani lendalo ongaba nalo.Ngakho-ke yini oyikhokhela lokho futhi kufanele ucace kakhulu ukuthi ungakwazi ukushayela amathuba wangempela we-synergy kusukela ekuhlanganiseni okunjalo futhi kudala inzuzo yangempela yokuncintisana.Ngakho zonke lezo zinto kufanele uhlale uzicabangela.Ngakho akuyona into esake sayikhipha.Ngesikhathi esifanayo, sikucacele ukuthi, lokho kufanele kuhlangabezane nemibandela yethu yokulinganisa.
Kulungile, kuhle.Bese kuthi-ke - manje ekukhuphukeni kwentengo okumemezele, kuningi amandla amasha okuzayo ekupheleni kwalo nyaka futhi iningi lamandla lilayishwe emuva.Ingabe ikhona ingozi yokuthi kuzodingeka uyeke okunye kwalokhu kukhuphuka kwentengo lapho umthamo omusha ufika emakethe?
Ngicabanga ukuthi siqiniseka kakhulu ngesimo esinaso okwamanje, futhi sizoqhubeka nokuxoxa namakhasimende ethu ngokunyuka kwentengo kwamanje.Ngicabanga ukuthi ikusasa lingaba yini kunqunywa inqwaba yezinto ezahlukene.Ngicabanga ukuthi, yebo, kukhona amandla amasha azayo, kodwa futhi kukhona ukukhula okuhle mayelana nokukhula kwesakhiwo endaweni ewuthayela, esikholelwa ukuthi ngeke iphele maduzane.Siphinde sibe nempicabadala ezungeze iChina.Ngokusobala, kuyisihloko okwamanje ngenxa yezinye izizathu, kodwa ngicabanga ukuthi sisakubona lokho, lolo daba lokuvinjelwa kokungenisa kwamaShayina ohlangothini lwe-OCC oluza ngalo.Kungazo zonke izinhloso nezinjongo ezifika ekupheleni kwalo nyaka, okumele kube nomthelela ekuhwebeni komhlaba wonke kwebhodi lamabhokisi, ngandlela thize noma enye.Ngakho zonke lezi zici zidinga ukubhekwa.Ngakho-ke ngicabanga ukuthi ukubheka ngokukhethekile ukwengezwa kwamandla e-Europe ngokuhlukaniswa kuhlale kuyinto engalungile.
Eyodwa nje esheshayo yokucacisa ngamanani webhokisi.Ingabe kulungile ukuphetha ngokuthi uma ukunyuka kwentengo ye-containerboard kudlula kuleyo nqubo yebhokisi kuzozinza unyaka nonyaka?
Ngicabanga, njengoba ngishilo ekuqaleni, uRoss, ngicabanga, ngokusobala, ukwenyuka kwentengo ye-containerboard kuzosekela amanani entengo.
Ngicabanga ukuthi lokho kuwumsebenzi wezibalo, akunjalo?Ngakho-ke kuzofanele siqonde ukuthi imiphi imithelela yezintengo ze-containerboard ezoba nomthelela ezintengo zamabhokisi.Kodwa kahle-hle ukuthi umphumela wonyaka nonyaka uwumbuzo wesikhathi salokhu kuhamba kwentengo.Ngeke ngifune ukuqagela kulokho okwamanje.
Kulungile.Ngicabanga ukuthi sinesikhathi.Uma kukhona omunye umbuzo kusuka phansi?Uxolo, Wade.Eqinisweni, isikhathi asinaso, kodwa sizosenza isikhathi.
Wade Napier ovela kwa-Avior Capital Markets.Andrew, uke wakhuluma ngaphambilini mayelana nekhono lakho lokuhlunga izinto ezikhethekile ngaphakathi kwebhizinisi lebhodi leziqukathi ezinengaphezulu elimhlophe kanye ne-fluting futhi manje ukhuluma okuthile okukhethekile ngaphakathi kwephepha le-kraft.Uma kubhekwa ukwehla kwentengo ephepheni le-kraft, ingabe izintengo zephepha ezikhethekile ze-kraft zihlukanisiwe kusuka kumabanga akho ajwayelekile asetshenziswa ngaphakathi kwezinto zokwakha?Futhi-ke ungasikhumbuza nje ukuthi yimaphi amaphesenti alelo bhizinisi lephepha le-kraft elingamamaki akhethekile?
Bese kuthi umbuzo wami wesibili ube ngaphakathi kwebhizinisi le-Uncoated Fine Paper, bekunezingxenye eziningi ezihambayo ngokuvalwa kwe-Merebank PM -- enye yama-PM lapho kanye ne-Neusiedler.Yayiyini imfuneko yakho eyisisekelo kulelo bhizinisi?Futhi ubona kanjani leyo makethe idlala ngo-2020, uma unikezwe uhlobo lobuthakathaka bentengo engxenyeni engemuva yangonyaka odlule futhi ungasinika umbala lapho?
Impela.Yebo, ngisho ukuthi, ukucacisa nje, kukhona -- futhi ngiyazi ukuthi igama elithi okukhethekile lingasetshenziswa kumongo ohlukile.Ngakho-ke sikhuluma nge-containerboard, kukhona amamaki ajwayelekile noma uhlobo lwamamaki ajwayelekile e-kraftliner engasetshenziswa kabusha futhi ube ne-niche noma izinhlelo zokusebenza ezikhethekile ezifana ne-white top ne-semichem.
Ngasohlangothini lwephepha le-kraft, sijwayele ukuhlukanisa phakathi kwamabanga ephepha le-sack kraft, okuyilona elingena kwizicelo zesikhwama sakho sezimboni.Bese kuba nezipesheli, ezihlanganisa ububanzi bezinhlelo zokusebenza ezivela ku-MG, i-MF, lezi zinhlobo -- lezi zigaba ezincane.Mayelana nenani lebhizinisi lethu, lingaba amathani angu-300,000 ezigidini zethu ezingu-1.2, amathani ayizigidi ezingu-1.3 okukhiqizwa kwephepha eliphelele le-kraft.Amandla entengo ahlukile.Futhi ngokufanayo, izinto eziyisisekelo zokufunwa kwezidingo zihluke kakhulu okwamanje.Siyabona - ohlangothini lwe-sack kraft, njengoba ngishilo, empeleni - kukhona ubuthakathaka bohlangothi lwesidingo esabubona ngo-2019, futhi kuzodingeka sibone ukuthi lokho kwenzeka kanjani ngoba lokho kuqhutshwa kakhulu ukwakhiwa, ikakhulukazi kulezo, njengoba ngisho, izimakethe zethu ezithumela ngaphandle.Ezingxenyeni ezikhethekile, okuningi kwalokho kungena kulezi zinhlelo zokusebenza zokupakisha ze-niche zohlobo lwezinhlelo zokusebenza ezithe xaxa bese kuthi zonke ezinye izinhlelo zokusebenza ezikhethekile, isibonelo, ukukhipha iphepha nokunye okunjalo.Ngakho kuhluke kakhulu, izimakethe ezihlukene.Futhi -- kodwa ngokuvamile, isithombe esidingekayo sinamandla kakhulu kuleyo ndawo.Futhi kungu-- sibona ukukhula okuhle.Kukhona nokuncintisana lapho futhi, njengoba ungacabanga, futhi uheha izimbangi kuleso sikhala.Ngakho-ke ubona lokho kudlala okunamandla.Kodwa ingcindezi yangempela yentengo ibe ngaphezulu kakhulu ohlangothini lwe-sack kraft oluza kulo nyaka.
Ngokuphathelene nesithombe esihle sephepha, ngisho, ukucaca nje, izingxenye zangempela ezihambayo kuphela, uma ukubiza ngokuthi kusukela ngonyaka odlule mayelana noshintsho lwesakhiwo ebhizinisini lethu kwaba ukuvalwa kwalowo mshini wephepha owodwa eMerebank.Ngaphandle kwalokho, kuyibhizinisi-njengokuvamile kumongo.Ngicabanga ukuthi okhuluma ngakho ukuthi sithathe isikhathi sokuphumula e-Neusiedler ngoba i-Neusiedler iyiphepha elikhethekile eligxile kakhulu, ngisebenzisa leli gama futhi, engxenyeni yephepha elihle, unemikhiqizo yebanga le-premium. futhi ngempela uNeusiedler ungumkhiqizi wezinga eliphezulu, futhi kubaluleke kakhulu ukuthi agxile kulokho.Futhi ngakho yilokho okugxilwe kukho.Uma leyo makethe ithambile, ngokuqinisekile ngeke sikhiqize amamaki empahla kulowo msebenzi we-Neusiedler.Ngakho-ke sihlala sishesha uma kuziwa endleleni esiphatha ngayo leyo phothifoliyo.
Mayelana nemakethe iyonke, ngoba, futhi, njengoba singabakhiqizi ababiza kancane, siqiniseka kakhulu ukuthi singenza imali kuwo wonke amathani esiwakhiqizayo emisebenzini yethu emikhulu edidiyelwe.Umbuzo wethu wukuguquguquka kwesakhiwo sesikhathi eside.Ngokusobala, iphepha elihle liwumkhiqizo ngokuvamile, ekuwohlokeni kwesakhiwo ezimakethe ezivuthiwe.Izinzile kakhulu ezimakethe ezisafufusa.Kodwa yilokho esikuhlelelayo njengebhizinisi ukuya phambili.
Ngicabanga ukuthi sizoyivala lapho.Ngiyabonga kakhulu ngokunaka kwakho nokuphuma namuhla ngosuku olubandayo nolumanzi lapha e-London, kodwa ngiyabonga naku-webcast futhi ngokunaka kwakho, futhi ngizokuphetha lokhu.Ngibona kakhulu.
Isikhathi sokuthumela: Mar-11-2020