Norske Skogindustrier ASA announced that Roar Odelien has been appointed Chief Operating Officer of the company, with responsibility for the group's commercial and operational activities. He will be employed from 1 October, and appointed to the position from 1 November 2013. Odelien comes from the position Group Warehouse Director in Carlsberg Supply Company AG in Switzerland. He has experience in logistics and supply from Ringnes as well as commercial experience from a number of other companies. Odelien will replace Trond Stangeby who has been a member of corporate management since August 2011. Stangeby has decided to resign from his position from 1 November.

The company reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2013. For the quarter, the company reported operating revenue of NOK 3,267 million against NOK 4,377 million a year ago. Operating loss was NOK 647 million against operating earnings of NOK 123 million a year ago. Loss for the period was NOK 859 million against NOK 91 million a year ago. Earnings (EBITDA) were NOK 214 million, down from NOK 398 million in the second quarter of 2012. The decrease was primarily due to lower selling prices and volumes. Cash flow used in operating activities were NOK 48 million against net cash from operating activities was NOK 6 million a year ago. The decrease was primarily due to weaker operating margins. Net interest bearing debt was NOK 6,641 million as at the end of second quarter of 2013 against NOK 6,883 million as at the end of second quarter of 2012. Basic and diluted loss per share was NOK 4.53 against NOK 0.48 for the same period in the last year. Loss before income taxes was NOK 1,001 million against NOK 125 million for the same period in the last year. Purchases of property, plant and equipment and intangible assets were NOK 125 million against NOK 95 million for the same period in the last year. Negative return on equity was 25.0% against 1.3% for the same period in the last year. Negative return on assets was 4.0% against return on assets of 0.7% for the same period in the last year. The net CapEx used in the company was NOK 106 million.

For the six months, the company reported operating revenue of NOK 6,453 million against NOK 8,788 million for the same period in the last year. Operating loss was NOK 824 million against NOK 459 million for the same period in the last year. Loss before income taxes was NOK 1,506 million against NOK 595 million for the same period in the last year. Loss attributable to owners of the parent was NOK 1,240 million against NOK 434 million for the same period in the last year. Basic and diluted loss per share was NOK 6.53 against NOK 2.28 for the same period in the last year. Net cash flow from operating activities was negative NOK 154 million against net cash flow from operating activities of NOK 273 million for the same period in the last year. Purchases of property, plant and equipment and intangible assets were NOK 242 million against NOK 185 million for the same period in the last year. Negative return on equity was 35.7% against 6.0% for the same period in the last year. Negative return on assets was 5.1% against 2.0% for the same period in the last year. First half CapEx was NOK 224 million.

The company reported production results for the second quarter and six months ended June 30, 2013. For the quarter, the company reported production of 771,000 tonnes against 912,000 tonnes for the same period in the last year.

For the six months, the company reported production of 1,548,000 tonnes against 1,838,000 tonnes for the same period in the last year.

For the year 2013, the company expects to end up somewhere between NOK 450 million and NOK 500 million in CapEx.