Billerud korsnäs Half-Years Report 2024
Sales and results
Net sales for the second quarter increased by 8% to SEK 10,764 million (9,953). Currency changes had a positive impact of 1%. The organic* and currency-neutral net sales increased by 9% mainly due to higher sales volumes, while sales prices had a negative impact. The Group’s sales volumes totaled 895 ktons (831), negatively impacted by curtailments of production in North America.
Adjusted EBITDA amounted to SEK 1,003 million (188), corresponding to a margin of 9% (2). Earnings improved mainly because of higher sales volumes and a more favorable product mix in both regions, but also due to lower costs for revaluation of finished goods inventory. The result was negatively affected by the cost impact of annual maintenance shutdowns in four mills of SEK 515 million.
Items classified as affecting comparability totaled SEK -119 million (–) in the second quarter included recognized costs for the US transformation program of SEK 189 million and a positive result from the divestment of assets related to the Wisconsin Water Quality Center (WQC) of SEK 70 million.
Highlights
- Underlying EBITDA improvement both sequentially and versus a year ago
- Positive pricing and mix effects more than offset sequentially higher input costs
- Excellent financial performance in Region North America
- Annual maintenance stops in four mills according to plan, cost impact SEK 515 million
- Strong cash conversion through continued working capital focus
- Net sales increased by 8% to SEK 10,764 million (9,953)
- Adjusted EBITDA* SEK 1,003 million (188)
- Adjusted EBITDA margin 9% (2)
- Operating profit SEK 171 million (-496), including items affecting comparability of SEK -119 million (–)