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Nordic Paper Interim report January-September 2021

Regulatory

Publish date: 28 Oct 2021 07:30

QUARTERLY RESULTS julY - september

  • Net sales increased by 11% to SEK 711m (639), excluding currency effects the increase was 12%
  • EBITDA amounted to SEK 15m (-13), corresponding to an EBITDA margin of 2.1% (-2.0)
  • Operating profit amounted to SEK -14m (-40), corresponding to an operating profit margin of-1.9% (-6.3%)
  • Net result for the period was SEK -17m (-32)
  • Cash flow from operating activities was SEK 153m (144)
  • Earnings per share was SEK -0.25 (-0.49**)
  • Return on operating capital was 20.9% (20.9)
  • Sales volume increased by 2% to 62 ktonnes (61)

significant events after the quarter

  • The Board of Directors of Nordic Paper has, as communicated in yesterday’s press release, decided to postpone a potential investment decision for the initial phase of the expansion of the production unit in Bäckhammar until a production permit for the entire expansion has been obtained and the conditions linked to this permit are known. The company estimates that a new production permit may be obtained earliest in the beginning of 2023.

KEY FIGURES

SEKm 2021

Q3
2020

Q3
Δ, % 2021Jan-Sep 2020 Jan-Sep Δ, % R 12 m 2020

Full year
Net sales 711 639 11 2,273 2,233 2 2,944 2,903
EBITDA 15 -13 234 314 377 458
Adjusted EBITDA* 15 -13 310 314 453 458
EBITDA-margin, % 2.1 -2.0 10.3 14.1 12.8 15.8
Adjusted EBITDA-margin, % * 2.1 -2.0 13.6 14.1 15.4 15.8
Operating profit -14 -40 148 235 260 348
Adjusted operating profit* -14 -40 224 235 336 348
Operating profit margin, % -1.9 -6.3 6.5 10.5 8.8 12.0
Adjusted operating profit margin, % * -1.9 -6.3 9.8 10.5 11.4 12.0
Profit for the period -17 -32 100 182 175 258
Earnings per share, SEK -0.25 -0.49** 1.49 2.73** 2.62 3.85
Cash flow from operating activities 153 144 333 334 360 352
Return on operating capital 12m, % 20.9 20.9 20.9 20.9 20.9 26.9
Net debt/EBITDA 12 m, ratio*** 1.7 -0.3 1.7 -0.3 1.7 1.6
Sales volume, ktonnes 62 61 2 211 203 4 275 267

* Adjusted for the SEK 76m provision that was made in Q2 2021 for remediation of buildings and land in Säffle

**Recalculated for the 1,400:1 split of the company’s ordinary shares, which was decided by the extraordinary general meeting on 1 October 2020.

***Negative value because of net cash.

For further information, please contact:

Niclas Eriksson, CFO

Tel: +46 705 654 257

E-mail: niclas.eriksson@nordic-paper.com

Henrik Essén, Head of Strategy and IR

Tel: +46 730 573 801

E-mail: henrik.essen@nordic-paper.com

This is information that Nordic 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 2021.

Nordic Paper is a Scandinavian specialty paper producer, manufacturing top-quality paper since the 19th century. We are a leading supplier of kraft and natural greaseproof paper. Our products are based on renewable raw material from local forests. From our four Scandinavian mills we supply customers in more than 70 countries. Nordic Paper had in 2020 net sales of SEK 2,900m, about 630 employees and is listed on Nasdaq Stockholm. www.nordic-paper.com