Nordic Paper Interim Report January–September 2023

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Quarterly results JULY – SEPTEMBER

  • Net sales amounted to SEK 1,077 (1,037) m, an increase of 4% compared with the same quarter the previous year. Excluding currency effects, net sales decreased by 2%.
  • EBITDA amounted to SEK 108 (77) m corresponding to an EBITDA margin of 10.0% (7.4%).
  • Operating profit amounted to SEK 69 (40) m, corresponding to an operating margin of 6.4% (3.9%).
  • Profit for the period amounted to SEK 34 (38) m and earnings per share amounted to SEK 0.50 (0.57).
  • Cash flow from operating activities was SEK 301 (257) m.
  • Return on operating capital, 12 months, was 34.0% (27.3%).
  • The net debt/EBITDA ratio, 12 months, was 0.9 (1.6).
  • The sales volume amounted to 67.6 (61.9) ktonnes.
  • During the quarter, a decision was made to invest approximately SEK 850 m in a new wood room and a new electrofilter at the Bäckhammar mill. The investments will be carried out in the years 2023–2025. They are expected to add around SEK 100 m annually to EBITDA with full effect in 2026, while significantly decreasing emissions of dust to air.

key figures

SEK m 2023
Q3
2022
Q3
Δ, % 2023
Jan-Sep
2022
Jan-Sep
Δ, % R12 2022
Full year
Net sales 1,077 1,037 4 3,501 3,234 8 4,708 4,440
EBITDA 108 77 40 606 561 8 865 821
EBITDA margin, % 10.0 7.4 17.3 17.4 18.4 18.5
Operating profit 69 40 73 491 453 8 714 676
Operating margin, % 6.4 3,9 14.0 14.0 15.2 15.2
Net profit for the period1 34 38 -12 352 363 -3 554 566
Earnings per share, SEK1,2 0.50 0.57 5.26 5.43 8.28 8.46
Cash flow from operating activities 301 257 17 567 428 32 699 560
Return on operating capital, 12 m, % 34.0 27.3 34.0 27.3 34.0 32.5
Net debt/EBITDA, 12 m, ratio 0.9 1.6 0.9 1.6 0.9 1.2
Sales volume, ktonnes 67.6 61.9 9 210.5 216.3 -3 278.7 284.5

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 above, at 7.30 am CET on 31 October 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

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