Quarterly results July - September

  • Net sales increased by 46% to SEK 1,037m (711). The Canadian operations acquired on 31 December 2021 contributed with SEK 86m to net sales.
  • EBITDA increased to SEK 77m (15), corresponding to an EBITDA margin of 7.4% (2.1).
  • Operating profit amounted to SEK 40m (-14), corresponding to an operating margin of 3.9% (-1.9).
  • Net profit for the period was SEK 38m (-17) and earnings per share amounted to SEK 0.57 (-0.25).
  • Cash flow from operating activities was SEK 257m (153).
  • Return on operating capital 12 m was 27.3% (20.9).
  • Net debt/EBITDA 12 m amounted to 1.6 (1.7).
  • Sales volumes amounted to 61.9 ktonnes (62.0), of which 3.2 ktonnes were from acquired operations.

Significant events after the end of the quarter

  • After the end of the quarter Nordic Paper sold its 37.6% minority shareholding in Åmotfors Energi. As a result of the transaction Nordic Paper will report a capital gain and a positive cash flow effect, both of around SEK 40m, in Q4 this year. In conjunction with the transaction Nordic Paper and Åmotfors Energi AB also entered into a new long-term supply contract for steam, hot water and a proportion of the electricity required for the production of kraft paper at Nordic Paper's plant in Åmotfors.

key figures

SEKm2022
Q3		2021
Q3		Δ, %2022
Jan-Sep		2021
Jan-Sep		Δ, %R 12 m2021Full year
Net sales 1,037 711 46 3,234 2,273 42 4,043 3,083
EBITDA 77 15 414 561 234 140 686 358
Adjusted EBITDA1 77 15 414 561 310 81 686 434
EBITDA margin, % 7.4 2.117.4 10.317.0 11.6
Adjusted EBITDA margin, %1 7.4 2.117.4 13.617.0 14.1
Operating profit 40 -14453 148 207 513 208
Adjusted operating profit1,2 40 -14453 224 102 545 316
Operating margin, % 3.9 -1.914.0 6.512.7 6.8
Adjusted operating margin, %1,2 3.9 -1.914.0 9.813.5 10.3
Net profit for the period 38 -17363 100 265 408 144
Earnings per share, SEK3 0.57 -0.255.43 1.496.10 2.15
Cash flow from operating activities 257 153 69 428 333 28 503 408
Return on operating capital, 12 m, % 27.3 20.927.3 20.927.3 15.9
Net debt/EBITDA, 12 m, multiple 1.6 1.71.6 1.71.6 3.7
Sales volume, ktonnes 61.9 62.0 0 216.3 211.3 2 285.6 280.6

1 For Jan-Sep 2021 and full year 2021 adjusted for the SEK 76m provision recognised in Q2 2021 for remediation of buildings and land in Säffle

2 For full year 2021 and R 12 m adjusted for the impairment loss of SEK 32m recognised in Q4 2021 in respect of pulp production in Säffle

3 Before and after dilution

For further information please contact:

Niclas Eriksson, CFO
Tel: +46 705 654 257
Email: niclas.eriksson@nordic-paper.com

Henrik Essén, Head of Strategy and IR
Tel: +46 730 573 801
Email: 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 October 2022.

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 about 80 countries. Nordic Paper had in 2021 net sales of approximately SEK 3,100m, about 690 employees and is listed on Nasdaq Stockholm. www.nordic-paper.com

https://news.cision.com/nordic-paper/r/nordic-paper-interim-report-january-september-2022,c3657188

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