Interim Report January - September 2003

Interim report January-September 2003 January- Quarter September 2003 2003 2002 III II III 2003 2002 Net turnover, MSEK 1 728 1 731 1 804 5 303 5 332 Operating profit, MSEK 282 284 354 863 873 Operating margin, % 16 16 20 16 16 Profit after financial items, 262 266 329 804 804 MSEK Net profit, MSEK 186 190 235 577 576 Earnings per share, SEK 3.28 3.30 4.02 10.03 9.42 ·Market demand continued to be weaker. ·The operating profit for the January to September period was MSEK 863, down 1% on last year. The decrease was mainly due to a small reduction in delivery volumes. ·Compared with the second quarter, operating profit fell during the third quarter by 1% to MSEK 282. The decline was mainly due to lower average prices. ·The profit after financial items was MSEK 804, which was around the same level as in 2002. The return on capital employed over the most recent 12-month period was 26%. Excluding the effects of currency hedging, the return was 15%. ·Operating cash flow during the period was MSEK 666, of which MSEK 355 was realised during the third quarter. ·Deliveries amounted to 961,000 tonnes, down 3% on last year. Maintenance stoppages have now been completed at all the Billerud mills. ·A decision has been made to invest MSEK 316 in two major projects at Gruvön and Skärblacka. ·Based on the current market situation, Billerud expects that the operating profit for the full year in 2003 will be around 10% lower than in 2002. In the interim report for the second quarter 2003, the expectation was of a 10-15% decline compared to 2002. Billerud AB (publ) Box 703, SE-169 27 Solna Corporate Identity Number 556025-5001 Tel +46 8 553 335 00 Fax +46 8 553 335 80 E-mail: info@billerud.com Internet website: http://www.billerud.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/10/21/20031021BIT00580/wkr0001.doc The full report http://www.waymaker.net/bitonline/2003/10/21/20031021BIT00580/wkr0002.pdf The full report

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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