Nordic Paper Interim report January-March 2023
Quarterly results JANUARY – MARCH
- Net sales increased by 24% to SEK 1,305 (1,052) m. Excluding currency effects, the increase in net sales amounted to 17%.
- EBITDA increased to SEK 282 (237) m, corresponding to an EBITDA margin of 21.6% (22.6%).
- Operating profit amounted to SEK 244 (202) m, corresponding to an operating margin of 18.7% (19.2%).
- Net profit for the period was SEK 173 (162) m and earnings per share amounted to SEK 2.59 (2.42).
- Cash flow from operating activities was SEK 21 (53) m.
- Return on operating capital 12 m was 33.9% (20.5%).
- The net debt/EBITDA 12 m ratio was 1.1 (2.8).
- The sales volume amounted to 73.5 (76.9) ktonnes.
- During the quarter the Land and Environment Court in Vänersborg granted a permit to expand production at Nordic Paper’s plant in Bäckhammar. The permit granted has been appealed by a private individual and therefore has not gained legal force.
- The weaker market situation has during April led to selling price decreases of 7-8% in local currency compared to the historically high average selling prices in the first quarter. The company assesses that the pressure for price reductions will remain during the second quarter.
key figures
| SEK m | 2023 Q1 |
2022 Q1 |
Δ, % | R12 | 2022 Full year |
| Net sales | 1,305 | 1,052 | 24 | 4,693 | 4,440 |
| EBITDA | 282 | 237 | 19 | 866 | 821 |
| EBITDA margin, % | 21.6 | 22.6 | 18.5 | 18.5 | |
| Operating profit | 244 | 202 | 21 | 718 | 676 |
| Operating margin, % | 18.7 | 19.2 | 15.3 | 15.2 | |
| Net profit for the period1 | 173 | 162 | 7 | 578 | 566 |
| Earnings per share, SEK1,2 | 2.59 | 2.42 | 8.64 | 8.46 | |
| Cash flow from operating activities | 21 | 53 | -61 | 528 | 560 |
| Return on operating capital, 12 m, % | 33.9 | 20.5 | 33.9 | 32.5 | |
| Net debt/EBITDA, 12 m, multiple | 1.1 | 2.8 | 1.1 | 1.2 | |
| Sales volume, ktonnes | 73.5 | 76.9 | -4 | 281.1 | 284.5 |
1 Net profit R12 and for full-year 2022 includes a capital gain in net financial items of SEK 42 million from the sale in Q4 2022 of the minority shareholding in Åmotfors Energi AB
2 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 Sustainability and Communication
Tel: +46 730 573 801
E-mail: henrik.essen@nordic-paper.com
This is information that Nordic Paper Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 7.30am CEST on 28 April 2023.
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 85 countries. Nordic Paper had in 2022 net sales of SEK 4,440m, about 670 employees and is listed on Nasdaq Stockholm. www.nordic-paper.com