Research

Investment analyses for Timber Investments

Timber Finance is a leading investment analyst for Timber Investments and publishes business reports, index reports, market updates and white papers on a regular basis.

Author: SC   1. Results Overview From a macro point of view, the first quarter of the year was characterised by rising sovereign bond yields on worries that central banks, especially the Fed, would keep interest rates higher for longer given the very resilient U.S. economy. Lumber prices trended higher during the quarter (before falling […]
Author: S.C. April marks the 1-year anniversary of the launch of the Timber Finance Forest-Based Construction Tracker. The tracker delivered a performance of +5.35% since launch, net of fess, as of end of April 2024. 1. Solid performance in a challenging macroeconomic environment The performance over the last year was solid despite the fact that […]
Author: S.C.   1. Executive Summary The Timber Finance Carbon & Storage Index was essentially flat (-0.3%) in the first three months of 2024, correcting in the first half of the quarter, and recovering in the second half. The correction until mid-February correlated broadly with the increase in yields, while the recovery came as yields […]
Author: SC   1. Results Overview It was interesting to see all Timberland REITs reporting progress on and highlighting the monetization potential of land-based climate solutions including carbon credits and leasing out land for solar power plants. Lumber markets remained relatively subdued, but we have been seeing actions by lumber producers to manage capacity and […]
By Stefano Charrey, 9 January 2023   1. Executive Summary The Timber Finance Carbon & Storage Index rose +13.9% in the first nine months of 2023, rising sharply in the last two months of the year on the broader market rally sparked by the “pivot” of the Federal Reserve, which has stopped hiking and is […]
1. Results Overview The third quarter results published by companies in the sector overall reaffirmed the current cyclical headwinds in the construction market and this continues to negatively affect timber and construction-related businesses in the short and medium term. Nordic markets, such as Sweden, are particularly weak in terms of construction activity. At the same […]
By Stefano Charrey, 6 October 2023   1. Executive Summary The Timber Finance Carbon & Storage Index was flat (-0.5%) in the first nine months of 2023, correcting -9.2% in Q3 as the European construction sector, and the economy overall, continued to struggle. Macroeconomic numbers for the US continue to be mixed, but the spike […]
1. Results Overview The second quarter results published by companies in the timber sector highlighted the differing market dynamics between Europe and the United States. U.S. companies were characterised by a more positive and optimistic tone, compared to the rather negative tone of their European counterparts. Increasing interest rates are identified as a key cause […]
1. Executive Summary The Timber Finance Carbon & Storage Index was up +9.5% in the first six months of 2023, delivering a robust performance despite clear macroeconomic headwinds in both Europe and North America. The European and U.S. construction markets display different dynamics, with the U.S. showing so far much more resilience to the violent […]
1. Results Overview The first quarter results published by companies in the sector highlighted the normalisation (on the downside) of timber prices on a Year-on-Year basis; resilience in the packaging sector; a challenging construction market.   While the economic situation is characterised by significant headwinds, it should be noted that the market had already priced […]

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