Risk Factors Update Summary
- Increased costs of raw materials and energy in 2023, particularly in Europe, due to geopolitical conflicts, led to significant inflation in production costs.
- Added risks related to cybersecurity incidents, including potential employee errors or malfeasance, cyber-attacks, and third-party cybersecurity risks.
- In 2023, the company faced supply chain disruptions and freight rate normalization, impacting transportation costs.
- Mentioned the expectation of increased sophistication and frequency of cyber-attacks, impacting technology-based products and services.
- The industry-wide decline in demand for paper products continued in 2023, with a 2.5% CAGR from 2021 to 2023.
- Disclosed potential financial losses and operational disruptions from cyber-attacks, including lost sales, penalties, and negative publicity.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1856485&owner=exclude
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