Global Annual Forest, Paper & Packaging Industry survey - 2009 edition: Survey of 2008 results

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The 2009 survey summarises the 2008 results and year-on-year financial information of the 100 largest forest, paper and fibre-based packaging product companies in the world by annual revenues.

This year’s survey results reflect the significant challenges faced by the sector, with the net income of the PwC Top 100 companies sliding into the red, and return on equity and return on capital employed falling sharply from the levels seen in previous years.

Of particular note, this year’s survey highlights that:

• Most FPP companies are focusing on tighter management of working capital and cost cutting, but some companies are having difficulties refinancing debt and finding adequate credit facilities.
• Total sales of the PwC Top 100 were static in local currency terms.
• The average ROCE (return on capital employed) fell from 4.9% in 2007 to 2.4% in 2008, the lowest since our survey began. Only six FPP companies earned a return of 10%.