OPPM maintains a strong position in the pulp and tissue industry, supported by its strategic role within APP Group, where it contributes around 30% of the group’s annual pulp production capacity. The company’s market standing is expected to strengthen further with the development of a new three-million-ton pulp mill scheduled for commissioning in the second half of 2026. OPPM also benefits from a highly integrated operating structure across the APP ecosystem, which secures raw material supply, improves efficiency, reduces cost pressures, and helps mitigate price volatility through strong downstream market access. These advantages have supported solid profitability, as reflected in its FY2025 gross profit margin of 46.1% and EBITDA margin of 46.9%, with EBITDA margin projected to remain around 45.0% over the medium term. Nevertheless, its financial profile may face some pressure in the near term due to significant debt-funded capex for the OKI II project, which is expected to lift total debt above USD4.7 billion in 2026 and raise leverage metrics accordingly.