Nordic Paper Interim Report January–September 2023
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