Billerud korsnäs Q1 Report 2024

The first quarter result was a clear sequential improvement. As we expected, the improvement was mainly derived from stronger sales volumes and stronger price positions within liquid packaging board. We also experienced favorable product mix changes in both regions. Despite headwinds of higher costs for energy, logistics, and fiber in Europe, the Group’s EBITDA margin strengthened to 11% in the quarter.

Highlights

• Adjusted EBITDA sequentially up more than 50%
• Strengthened order books in both regions and improved capacity utilization in North America
• Sequentially 6% higher sales volumes (approx.+50 ktons)
• Positive pricing and favorable mix changes compared to the fourth quarter
• Divestment of idled mill assets in the US

Quarterly data

• Net sales decreased by 9% to SEK 10,423 million (11,495)
• Adjusted EBITDA* SEK 1,166 million (1,484)
• Adjusted EBITDA margin 11% (13)
• Operating profit SEK 448 million (806)
• Net profit SEK 313 million (639)
• Earnings per share SEK 1.26 (2.57)