Bli medlem
Bli medlem

Du är här


BillerudKorsnäs: INTERIM REPORT January-June 2016

(Tables included in attached PDF)

· Although net sales for the quarter amounted to SEK 5 439 million
which was SEK 50 million lower compared to the same period last year,
for comparable units net sales increased with SEK 105 million or
approximately 2%.

· Sales volumes increased with 4% compared to the same period last

· Earnings per share for the quarter amounted to SEK 1.93 (1.92).
· Costs for planned maintenance shutdowns in the production units in
Gruvön and Skärblacka amounted to SEK 244 million, compared to
estimated SEK 220 million.

· Significant improvements were made in the production and
production was running according to plans towards the end of the


· Demand and order situation for the third quarter is expected to be
stable with normal seasonal variances for all business areas.

· Average prices in local currency in the third quarter are in
general anticipated to be stable with exceptions for some segments.

· No changes to wood prices are anticipated for the third quarter.
· Gävle and Karlsborg production units will have planned maintenance
shutdowns during the third quarter.

Comments by BillerudKorsnäs' CEO Per Lindberg:
Stability and production platform investment
"After a couple of troublesome quarters we are now back on track with
production running according to plans. The second quarter performance
is in line with our own expectations. During the quarter it was
decided to proceed with the investment in Skärblacka. The investment
will enable further growth in attractive market segments and at the
same time streamline the company's production structure. The
investment program will develop the Skärblacka production unit in
Sweden into a world leading center for machine glazed, MG, kraft
paper production, hence creating a competitive future platform for
Packaging Paper to enable the selective growth strategy"

Net sales for comparable units increased 2% compared to Q2 last year
and year on year net sales show a slight increase of 1%. Adjusted
EBITDA for comparable units improved with 3% compared to the first
six months last year, in spite of approximately SEK 74 million higher
costs for periodic maintenance shutdowns this year. Results improved
in both Consumer Board and Corrugated Solutions business areas. The
item affecting comparability is related to a fraud case that caused a
loss of SEK 25 million in June, this is something we treat very
seriously and we work diligently to try to recover the money. Our
return on capital employed reached 14% which is above our target and
our working capital in relation to sales improved from previous
quarter from 12% to 11%. Our net debt to EBITDA ratio increased due
to dividend payout to 1.32, but is significantly lower than our
target of below 2.5.

Overall the market was stable and we anticipate that to continue.

For Business area Packaging Paper the brown and white sack paper
markets strengthened seasonally. The pulp price was down compared to
Q2 last year. The remaining segments in Packaging Paper had a stable
market development with no changes to local prices.

Consumer Board delivered lower sales volumes than the first six months
last year as a consequence of the problems in production in Q4 last
year and the previous quarter. But as we now are back on track in
production we anticipate that we will reach our growth targets during
the second half of the year.

Business area Corrugated Solutions shows a continued strong
performance in spite of the fact that the market did not develop as
we anticipated during the quarter where liner has been stronger than
expected and fluting a bit tougher than anticipated.

Part of our strategy for creating long-term profitable growth is to
expand our position in the value chain as well as geographically.
Based on our focus and expertise in the packaging area we want both
to develop and complement our sustainable materials with packaging
solutions to a larger extent. It is a natural development but also
necessary. In new markets, complete solutions are often required in
order to introduce new materials.

During the past six months, the former subsidiary PACCESS (now Managed
Packaging), with a business model fully based on packaging solutions,
was fully integrated into BillerudKorsnäs. Even more recently a
complete packaging system was launched together with Bosch. The
latter is a unique solution for sealed packaging of dry foods based
fully on renewable material. The development toward more packaging
solutions is a natural evolution within each business area. In
addition there is room for more revolutionary solution development in
the newly formed subsidiary BillerudKorsnäs Venture AB.

BillerudKorsnäs' President and CEO Per Lindberg and CFO Susanne
Lithander will present the interim report at a press and analyst
conference at 10.00 CET on Wednesday 20 July 2016.

Venue: Tändstickspalatset, Västra Trädgårdsgatan 15, Stockholm
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
This information is information that BillerudKorsnäs AB (publ) is
obliged to make public pursuant to the EU Market Abuse Regulation and
the Securities Markets Act. The information was submitted for
publication, through the agency of the contact persons set out above,
at 07.00 CET on 20 July 2016. This information has been prepared in
both a Swedish and an English version.

BillerudKorsnäs provides packaging materials and solutions that
challenge conventional packaging for a sustainable future. We are a
world leading provider of primary fiber 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.


Författare WKR

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.