By Mark Rushton, Graeme Rodden, Rhiannon James-Van Beuningen and Remi Lees
Of course, if consolidated sales for the same period are looked at, consumer products giant P&G and Japanese behemoth Marubeni far outpace the rest of the Top 100 with total sales of $78,938 million and $102, 705 million respectively.
Overall, the listing did not have as much swing as other years. The top 10 remained albeit in slightly different order. Stora Enso moved up to third from fifth. Oji dropped down a spot to fourth. Nippon Paper rounded out the top five, up from sixth a year ago. In order, the rest of the Top 10 were: SCA, UPM, Kimberly-Clark, Smurfit-Kappa and Mondi.
Coming off a severe recession, most companies were able to post earnings figures that were in the black. Two in particular, AbitibiBowater and Smurfit-Stone (since taken over by RockTenn) showed remarkable turnarounds although these were helped in no small part by "fresh start accounting" following bankruptcies.
As perhaps can be expected, Chinese companies continued their climb up the sales ladder. Nine Dragons led the way moving into No. 31 on the list with PPCM sales of $2,647 million. This is the highest post a Chinese company had held in the listings. It also marks a big climb for Nine Dragons, which was No. 39 on the list in 2010 and 44 in 2009. All showed strong jumps in PPCM sales
Chinese companies now occupy three spots in the top 50 with Shandong Chenming coming in at No. 35 and Lee & Man at No, 46.
Reflecting the growth of most Asian pulp and paper companies, not just the Chinese, India's BILT moved up 11 spots to 84 on the list, with PPCM sales of $834.3 million in 2010, up from $566 million in 2009.
There are only two newcomers to the Top 100: Shandong Bohui, another going Chinese concern, which came in at 94 after just missing the 2010 list; Portugal's Altri is the other, making its debut at No. 98.
Spain's ENCE, which just made the list last year at the 100 spot, jumped all the way to No. 85, showing a 65% increase in PPCM sales.
In an encouraging sign compared with the past two years, PPCM sales showed an increase of just less than 10% to almost $304,000 million. Paper and board production also showed an increase in 2010 following two years of decline. Production topped 199 million tonnes in 2010, compared with 187.5 million tonnes in 2009. Market pulp also showed some growth, up by about five million tonnes to 43.9 million tonnes.
All six regions in the listing showed an increase in PPCM sales. In 2009, every region but Asia showed a drop. In terms of production of paper, board and market pulp, the percentages and tonnages for each region were remarkably similar to 2009 figures although Europe did show a large jump in the amount of market pulp produced, up almost three million tonnes.
PPI's Million Tonners Club also showed an increase in membership in 2010, up by two to 57 with Billerud and Shandong Bohui Paper joining the club. There is another new name on the list, Bio PAPPEL, but this is the former Durango. In 2010, the members combined to produce almost 186 million tonnes of paper and board compared with the 2009 figure of 171.5 million tonnes.
Company 2010 Top P&B Output International Paper 1 11,922 Stora Enso 3 10,812 UPM 7 9,914 Svenska Cellulosa Aktiebolaget (SCA) 6 8,948 Smurfit Kappa Group 9 7,650 Nippon Paper 5 7,292 Nine Dragons Paper Holdings 31 7,280 Sappi 11 6,900 Oji Paper 4 6,861 Smurfit-Stone Container 13 5,896 Abitibi Bowater 20 5,318 NewPage 23 4,400 Norske Skog 30 3,998 Mondi 10 3,697 Temple-Inland 28 3,660 Lee & Man Paper Manufacturing 46 3,500 Domtar 15 3,482 Shandong Chenming Paper Holdings 35 3,350 Cascades 22 3,330 Siam Cement 51 3,191 M-Real 26 2,565 Burgo Group 33 2,562 Daio Paper 19 2,500 Rengo 17 2,465 Holmen 47 2,280 Shandong Sun Paper Industry 70 2,240 Graphic Packaging 21 2,225 RockTenn 29 2,221 Packaging Corporation of America 34 2,216 MWV 16 2,155 Boise 40 1,984 Marubeni 12 1,926 Palm 60 1,890e Myllykoski 55 1,838 Empresas CMPC 25 1,825 Yuen Foong Yu Paper 50 1,820 Sonoco Products 27 1,800 Bio-PAPPEL 76 1,780 Klabin 44 1,716 Hokuetsu Kishu Paper 37 1,715 DS Smith 38 1,700 Lecta 43 1,643 Verso Paper 52 1,627 Prinzhorn Holding 61 1,600 Mayr-Melnhof Karton 36 1,579 Hansol Paper 59 1,504 Portucel Soporcel 49 1,418 Shandong Huatai Paper 79 1,395 Catalyst Paper 65 1,352 Sequana Capital 14 1,300 Cheng Loong 64 1,184 Clearwater Paper 58 1,171 Suzano Papel e Celulose 32 1,128 KorsnÄs 72 1,125 KapStone Paper & Packaging 88 1,115 Billerud 67 1,009 Shandong Bohui Paper Industry 94 1,001 Total of 57 companies 185,976
No. of companies1 2010 Sales2 ($ million) 2009 Sales ($ million) % change 2010/ % of total 2010 Mkt pulp3 (1,000 tonnes) % of total 2010 P&B4 (1,000 tonnes) % of total 2010 Europe 34 95,428 88,622 7.7 31.4 14,129 32.1 72,664 36.8 North America 32 115,239 107,482 7.2 37.9 13,460 30.6 59,203 30.0 Asia 24 65,331 57,858 12.9 21.5 3,078 7.0 53,782 3.4 Latin America 7 14,936 11,715 27.5 4.9 13,284 30.2 6,760 3.4 Oceania 1 5,199 4,931 5.4 1.7 0 0.0 0 0.0 Africa 2 7,845 6,557 19.6 2.6 0 0.0 6,900 3.5 100 303,978 277,166 9.7 100 43,951 100 199,309 100
Company Rank Abitibi Bowater 20 Ahlstrom 63 Altri 98 Amcor 18 Appleton 80 Arauco 48 Arctic Paper 89 Billerud 67 BILT - Ballarpur Industries 84 Bio-PAPPEL 76 Boise 40 Buckeye Technologies 90 Burgo Group 33 Canfor 69 Cascades 22 Catalyst Paper 65 Celulose Nipo-Brasileira CENIBRA) 87 Cheng Loong 64 Chuetsu Pulp and Paper 66 Clearwater Paper 58 Daio Paper 19 De la Rue 100 Domtar 15 Double A 99 DS Smith 38 Empresas CMPC 25 ENCE 85 EUROPAC Papeles y Cartones de Europa 92 Exacompta Clairefontaine 93 Fedrigoni 74 Fibria Celulose 24 Glatfelter 56 Graphic Packaging 21 Greif 97 Hansol Paper 59 Hengan International Group 54 Hokuetsu Kishu Paper 37 Holmen 47 International Paper 1 ITC 86 KapStone Paper & Packaging 88 Kimberly Clark 8 Klabin 44 Koehler 81 Korsnäs 72 Lecta 43 Lee & Man Paper Manufacturing 46 LEIPA Georg Leinfelder 78 Lenzing Group 39 Marubeni 12 Mayr-Melnhof Karton 36 Mercer International 68 Metsä-Botnia 45 Mitsubishi Paper Mills 41 Mondi 10 Moorim Group 73 M-Real 26 MWV 16 Myllykoski 55 Nampak 62 Neenah Paper 96 NewPage 23 Nine Dragons Paper Holdings 31 Nippon Paper 5 Norske Skog 30 Oji Paper 4 Packaging Corporation of America 34 Palm 60 Portucel Soporcel 49 Prinzhorn Holding 61 Procter & Gamble 2 Rayonier 77 Rengo 17 Reno de Medici 95 RockTenn 29 Sappi 11 Sequana Capital 14 Shandong Bohui Paper Industry 94 Shandong Chenming Paper Holdings 35 Shandong Huatai Paper 79 Shandong Sun Paper Industry 70 Siam Cement 51 Smurfit Kappa Group 9 Smurfit-Stone Container 13 Södra 53 Sonoco Products 27 Stora Enso 3 Suzano Papel e Celulose 32 Svenska Cellulosa Aktiebolaget (SCA) 6 SWM 91 Tembec 57 Temple-Inland 28 Tokushu Tokai Paper 75 UPM 7 Verso Paper 52 VPK Packaging 83 Wausau Paper 71 West Fraser Timber 82 Weyerhaeuser 42 Yuen Foong Yu Paper 50
Every year there are companies that should be in the Top 100 that are not. This is because these often extremely prominent companies are privately owned and do not make their financial results public. Below is a list of firms that would almost certainly make the list if their financial results were available:
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