Nordic Paper Interim report January-June 2022

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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

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