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2016-10-21

BillerudKorsnäs: Firm performance in line with plans

CEO Per Lindberg comments on the development during Q3 2016:

"Once again we show a stable performance and I am happy to see that we
deliver results as expected. Our production has stabilized and we
have been producing in line with planned levels. The one issue for me
is the lack of growth in Consumer Board. This is due to the
production problems we suffered in previous quarters, but our view on
the Consumer Board market has not changed and we expect to see the
growth coming back as we catch up on inventory levels."

THE RESULT

Net sales and adjusted EBITDA in Q3 are on par with previous year's
performance and in line with our expectations which is very
satisfactory. We are not satisfied with our current lack of growth in
the Consumer Board segment, but we have put the production
disturbances related to last year's rebuilds behind us, and the
anticipated improvements will come as we now are able to run our
capacity on higher levels to match market demand and growth.
Unfortunately, at the end of the quarter the recovery boiler in Frövi
experienced serious problems and we were forced to stop it before our
planned maintenance shutdown. We can run the board machine on lower
capacity on external pulp but as a consequence we will see additional
costs for pulp and the repair of the recovery boiler in the coming
quarter beyond our previous estimates.

MARKET OUTLOOK

Overall the markets in all three business areas were stable and we
anticipate that to continue.

The brown sack paper market improved compared to previous quarter. The
market demand and local pricing for NBSK pulp also remained stable in
the quarter.

Our view on the Consumer Board market continues to be very positive.
Local pricing has been stable and we are not expecting any changes.

Within Business area Corrugated Solutions the demand for fluting has
strengthened throughout the quarter and local pricing was unchanged.
Managed Packaging sales have continued to deliver good progress.

STRATEGY

Our company has high sustainability ambitions and performance, hence
it makes us proud when it is recognized and verified. During the
quarter, we have been awarded the Gold of EcoVadis for the third
consecutive year, and we have been included in one of the world's
most prestigious sustainability indexes, the Dow Jones Sustainability
Europe Index. BillerudKorsnäs is the only European company in its
category to be included.

BillerudKorsnäs wants to be a positive force in the development
towards a sustainable future by challenging conventional packaging.
One way of doing that is to find and invest in attractive companies
in the early stages to eventually generate new business and solutions
later on in the packaging value chain. "Internet of Packaging" is one
of several areas of focus, and through our venture company it now
includes the investment in Kezzler.

Our innovation and design agency NINE recently achieved great success
at Pentawards, the packaging world's finest award, through gold and
bronze in the concept category. Yet another example of how we
challenge conventional packaging.

For further information, please contact:
Per Lindberg, President and CEO 46 (0)8 553 335 00
Susanne Lithander, CFO, 46 (0)8 553 335 00

BillerudKorsnäs provides packaging materials and solutions that
challenge conventional packaging for a sustainable future. We are a
world-leading provider of primary fibre based packaging materials and
have customers in over 100 countries. The company has 8 production
sites in Sweden, Finland and the UK and about 4 200 employees in over
13 countries. BillerudKorsnäs has an annual turnover of about SEK 22
billion and is listed on Nasdaq Stockholm. www.billerudkorsnas.com

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http://news.cision.com/billerudkorsnas/r/firm-performance-in-line-with-p...
http://mb.cision.com/Main/66/2105744/578095.pdf

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