Financial statement January-December 2005

________________________________________________ Quarter Full year 2005 2005 2004 IV III IV 2005 2004 Net 1 742 1 638 1 753 6 823 7 159 turnover, MSEK Operating 81 -367 161 -200 781 profit, MSEK Operating 5 -22 9 -3 11 margin, % Profit 60 -390 146 -278 707 after financial items, MSEK Net profit, 61 -281 107 -183 509 MSEK Earnings 1.19 -5.47 2.07 -3.56 9.66 per share, SEK Full year 2005 compared with 2004 • Net turnover amounted to MSEK 6,823 (7,159). • Net loss was MSEK 183 (+509). • Earnings per share were SEK -3.56 (+9.66). • Operating loss was MSEK 200 (+781). The deterioration was mainly due to one-off costs of MSEK 400 for organisational changes, negative changed exchange rates, and higher costs for wood, chemicals and energy. • Operating profit excluding one-off costs was MSEK 200, or MSEK 50 higher than the forecast given in the previous interim report published in November. Lower fixed costs are the main reason for the deviation. Operating profit was hit by a negative effect of currency hedging amounting to MSEK 183. Final quarter of 2005 • Cost-cutting projects focused on energy and organisation continue according to plan. • Price rises achieved for most products. Dividend proposal • The Board proposes a dividend of SEK 3.25 per share for 2005. Outlook for 2006 • As a consequence of Billerud’s present financial position and ongoing discussions regarding future strategy, the Board of Directors will review Billerud’s financial goals during 2006. • Market situation good. Completed price increases will have an effect during the first quarter. For further information in connection with this report, please contact: Per Lindberg, President and CEO, +46 8 553 335 00 or +46 70 248 15 17 and Nils Lindholm, CFO, +46 8 553 335 00 or +47 70 217 5225 Billerud’s President Per Lindberg will present the interim report live at a press conference at 3 p.m. today. Location: Spårvagnshallarna, Birger Jarlsgatan 57 A, Stockholm.

About Us

BillerudKorsnäs provides packaging materials and solutions that challenge conventional packaging for a sustainable future. We are a world-leading provider of primary fibre based packaging materials and have customers in over 100 countries. The company has 8 production sites in Sweden, Finland and the UK and about 4300 employees in over 13 countries. BillerudKorsnäs has an annual turnover of about SEK 22 billion and is listed on Nasdaq Stockholm. www.billerudkorsnas.com

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