Nordic Paper Interim report January-June 2022
quarterly results april - june
- Net sales increased by 45% to SEK 1,144m (790). The Canadian operations acquired on 31 December 2021 contributed with a net sales of SEK 80m.
- EBITDA increased to SEK 247m (84) corresponding to an EBITDA margin of 21.6% (10.7).
- Operating profit was SEK 211m (55), corresponding to an operating margin of 18.4% (7.0%).
- Net result for the period amounted to SEK 164m (35) and earnings per share were SEK 2.44 (0.53).
- Cash flow from operating activities was SEK 118m (134).
- Return on operating capital was 27.3% (18.4).
- Net debt/EBITDA 12 m amounted to 2.2 (2.1).
- Sales volumes increased by 5% to 77.6 ktonnes (74.1) out of which 3.3 ktonnes were from acquired operations.
- A dividend of SEK 2.00 per share was paid during the quarter, in total worth SEK 134m.
KEY FIGURES
| SEKm | 2022 Q2 |
2021 Q2 |
Δ, % | 2022 Jan-Jun |
2021 Jan-Jun |
Δ, % | R 12 m | 2021 Full year |
| Net sales | 1,144 | 790 | 45 | 2,196 | 1,562 | 41 | 3,717 | 3,083 |
| EBITDA | 247 | 84 | 193 | 484 | 219 | 121 | 623 | 358 |
| Adjusted EBITDA 1 | 247 | 160 | 54 | 484 | 295 | 64 | 623 | 434 |
| EBITDA-margin, % | 21.6 | 10.7 | 22.0 | 14.0 | 16.8 | 11.6 | ||
| Adjusted EBITDA-margin, % 1 | 21.6 | 20.3 | 22.0 | 18.9 | 16.8 | 14.1 | ||
| Operating profit | 211 | 55 | 282 | 413 | 161 | 156 | 459 | 208 |
| Adjusted operating profit 1, 2 | 211 | 131 | 61 | 413 | 237 | 74 | 491 | 316 |
| Operating margin, % | 18.4 | 7.0 | 18.8 | 10.3 | 12.4 | 6.8 | ||
| Adjusted operating margin, % 1, 2 | 18.4 | 16.6 | 18.8 | 15.2 | 13.2 | 10.3 | ||
| Profit for the period | 164 | 35 | 361 | 325 | 116 | 180 | 353 | 144 |
| Earnings per share, SEK 3 | 2.44 | 0.53 | 4.86 | 1.74 | 5.28 | 2.15 | ||
| Cash flow from operating activities | 118 | 134 | -12 | 170 | 180 | -6 | 398 | 408 |
| Return on operating capital 12m, % | 27.3 | 18.4 | 27.3 | 18.4 | 27.3 | 15.9 | ||
| Net debt/EBITDA 12 m, ratio | 2.2 | 2.1 | 2.2 | 2.1 | 2.2 | 3.7 | ||
| Sales volume, ktonnes | 77.6 | 74.1 | 5 | 154.4 | 149.3 | 3 | 285.7 | 280.6 |
1 Q2 2021, Jan-Jun 2021 and full year 2021 adjusted for the SEK 76m provision that was made in Q2 2021 for remediation of buildings and land in Säffle
2 Full year 2021 and R 12 m adjusted for the SEK 32m write-down of the pulp production in Säffle that was made in Q4 2021
3 Before and after dilution
For further information, please contact:
Niclas Eriksson, CFO
Tel: +46 705 654 257
E-mail: niclas.eriksson@nordic-paper.com
Henrik Essén, Head of Strategy and IR
Tel: +46 730 573 801
E-mail: henrik.essen@nordic-paper.com
This is information that Nordic Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person above, at 7.30am CEST on 20 July 2022.
Nordic Paper is a leading specialty paper producer with its base in Scandinavia. We have been manufacturing top-quality kraft papers and natural greaseproof papers since the 19th century. Our products are based on renewable raw material from local forests. From our five paper mills, four in Scandinavia and one in Canada, we supply customers in about 80 countries. Nordic Paper had in 2021 net sales of approximately SEK 3,100m, about 690 employees and is listed on Nasdaq Stockholm. www.nordic-paper.com