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Skogforum – November 2013 Honne Unleashing the potential of Renewables En fremtidsmulighet for norsk- og nordisk skognæring? Stein O. Larsen, CEO.

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Presentation on theme: "Skogforum – November 2013 Honne Unleashing the potential of Renewables En fremtidsmulighet for norsk- og nordisk skognæring? Stein O. Larsen, CEO."— Presentation transcript:

1 Skogforum – November 2013 Honne Unleashing the potential of Renewables En fremtidsmulighet for norsk- og nordisk skognæring? Stein O. Larsen, CEO

2 Vision To unleash the potential of ecological renewable resources. Mission By making a regulated marketplace for renewable products we shall: • Make good solutions for better risk management opportunities. • Increase attractiveness for trading in financial contracts. 2

3 Areas of renewables Clean Energy - Green certificates - Carbon offsets Weather - Rain - Temperature Bio-economy and other Ecological - Pulp - Wood chip - Pellets - Recovered fibre - Paper and packaging - Other Biomass Forestry - Lumber - Pulpwood - Forest residual Norexeco - Productplan

4 Media!

5 Product selection from the start Pulp • NBSK • BHKP Recovered paper • OCC • ONP /OMP 5

6 Strategic Agreement with FOEX Indexes Oy FOEX Indexes Ltd is the industry leading independent provider of audited, trade-mark registered pulp, paper, recovered paper and wood based bio- energy/biomass price indices. FOEX and NOREXECO entered a strategic agreement in 2013 for the future use of PIX indices. FOEX Indexes Ltd

7 Share of recovered paper and Pulp of the papermaking fibre consumption Source: Pöyry, Management Consulting,Danish technological Institute & Nordea 7

8 Historical price development Pulp - 10,8 in 6 mths +10,7 in 6 mnths Source: Pöyry, Management Consulting,Danish technological Institute & Nordea

9 Historical price development recovered paper Source: Pöyry, Management Consulting,Danish technological Institute & Nordea 9

10 Hvem hva hvor? SkogeierSkogeierforening Industri •Norsk •Utenlandsk Fysisk handel (innkjøpere, selgere, markedsfolk). Finansielle kontrakter (Styret, daglig leder og CFO) PrissikringValutasikringRentesikring

11 OCC-Supplier Receives 17,25 mill Euro Physical = 15 millFinancial Contract = 2,25 mill. Dec FOEX PIX OCC = 100 EUR/Tonnes OCC- supplier receives 15 mill EURO for Physical trade OCC-supplier receives 2,25 mill EURO from NOREXECO. OCC-Supplier – 1. nov 2013 Sells Tonnes at NOREXECOCal 15 - Price 115 EUR/Tonnes Example 1 on Recovered paper – OCC (old corrigated container)

12 OCC-Supplier Receives 17,25 mill Euro Physical = 18,75 millFinancial Contract = -1,50 mill. Dec FOEX PIX OCC = 125 EUR/Tonnes OCC- supplier receives 18,75 mill EURO for Physical trade OCC-supplier pays 1,50 mill EURO to NOREXECO. OCC-Supplier – 1. nov 2013 Sells Tonnes at NOREXECOCal 15 - Price 115 EUR/Tonnes Conclusion; The OCC-supplier receives the same price - regardless of actual Spotprice Dec Example 2 on Recovered paper – OCC (old corrigated container)

13 Forward prices – Set by the market? Period - Forward Price NBSK - USD October November December Q Q2900 Q3910 Q4920 Q Q2940 Q3950 Q4960 Q Q Q

14 •Compliant with EMIR (and Dodd Frank) •Clearing, margining and reporting. •Trading in a regulated environment, under supervision of the European Financial authorities. •Full price transparency, 3-5 months, 4 Q’s, 3 Calendar years. •Low fees, easy access •Equal access for all participants •Standardized products. NOREXECO – Key Benefits 14

15 Er dette noe for norsk og nordisk skognæring? JA ……………., hvis mange nok ønsker det!

16 Unleashing the potential of renewables

17 NOREXECO – Exchange solution Seller Buyer Exchange Sellers Bank / Clearinghouse member Buyers Bank/ Clearinghouse member Trade- repository Reports

18 Overview of ESMA requirements for non- financial counterparties

19 Employees CEO Stein O. Larsen DSM Frederik W. Husebye HEO Tor Sletbakken Desk Manager Nils Andreas Arnesen CFO Esben Jensrud Head of IT Christopher Rolsdorph 19


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