| Another growing mainstay, which also achieved great success during the pandemic, is Raflatac's subsidiary specializing in labeling products in the food and pharmaceutical business. UPM is well-positioned for the future and has a clear long-term strategy. The somewhat weaker figures for 2020 can therefore be accepted.
At Mayr-Melnhof Karton, more and more focus will be on sustainable packaging solutions in the future.
Due to the booming online trade, demand is higher than ever. The pandemic has even accelerated this development. At the same time, packaging solutions are increasingly being used as advertising space to differentiate themselves from the competition.
Mayr-Melnhof is the clear quality leader here and will be able to expand its market share further. In the United States, I'm expecting that International Paper will continue its positive momentum.
Office Supplies are Under Pressure
The pandemic not only had an impact on the paper and cardboard market but also on-demand for classic office supplies.
BIC ADR (BICEY) is one of the few office product manufacturers listed on the stock exchange. It is an old family business that relies on a quality image.
However, the company is struggling to cope with strong competition from Asia, which still lags somewhat behind in terms of quality but charges much lower selling prices.
Operating margins are therefore under pressure. Shares have pulled back in the last few weeks, and that acceleration might continue. The digitization process of today's economy is leading to lower demand.
We'll talk about gold and Bitcoin in the coming days.
Enjoy your evening,
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