BillerudKorsnäs’ holding in Bergvik Skog AB increases in value
BillerudKorsnäs’ holding in Bergvik Skog AB increases in value due to increase in the IFRS fair value of biological assets in Bergvik Skog AB. BillerudKorsnäs’ share of the increase, net of tax, is approximately SEK 420 million, subject to year-end verification. The increase in fair value will be recorded in BillerudKorsnäs’ other comprehensive income in the fourth quarter of 2015. As a result of the revaluation, BillerudKorsnäs net debt to equity ratio will decrease with approximately 0.02.
The revaluation is due to the decrease of post-tax weighted average cost of capital (WACC) applied in Bergvik Skog AB.
BillerudKorsnäs’ share in Bergvik Skog AB is 5%.
For more information, please contact:
Susanne Lithander, CFO, +46 (0)8 553 335 00
The information is such that BillerudKorsnäs Aktiebolag (publ) is obligated to publish under the Swedish Securities Market Act. Submitted for publication at 12.00 CET, October 23rd 2015.
BillerudKorsnäs provides packaging materials and solutions that challenge conventional packaging for a sustainable future. We are a world leading provider of primary fiber based packaging materials and have customers in over 100 countries. The company has 8 production sites in Sweden, Finland and the UK and about 4 300 employees in over 13 countries. BillerudKorsnäs has an annual turnover of about SEK 21 billion and is listed on Nasdaq Stockholm. www.billerudkorsnas.com