Nordic Paper Interim Report January–September 2023

Quarterly results JULY – SEPTEMBER

• Net sales amounted to SEK 1,077 (1,037) m, an increase of 4% compared with the same quarter the previous year. Excluding currency effects, net sales decreased by 2%.
• EBITDA amounted to SEK 108 (77) m corresponding to an EBITDA margin of 10.0% (7.4%).
• Operating profit amounted to SEK 69 (40) m, corresponding to an operating margin of 6.4% (3.9%).
• Profit for the period amounted to SEK 34 (38) m and earnings per share amounted to SEK 0.50 (0.57).
• Cash flow from operating activities was SEK 301 (257) m.
• Return on operating capital, 12 months, was 34.0% (27.3%).
• The net debt/EBITDA ratio, 12 months, was 0.9 (1.6).
• The sales volume amounted to 67.6 (61.9) ktonnes.
• During the quarter, a decision was made to invest approximately SEK 850 m in a new wood room and a new electrofilter at the Bäckhammar mill. The investments will be carried out in the years 2023–2025. They are expected to add around SEK 100 m annually to EBITDA with full effect in 2026, while significantly decreasing emissions of dust to air.

key figures

SEK m	2023 Q3	2022 Q3	Δ, %	2023 Jan-Sep	2022 Jan-Sep	Δ, %	R12	2022 Full year
Net sales	1,077	1,037	4	3,501	3,234	8	4,708	4,440
EBITDA	108	77	40	606	561	8	865	821
EBITDA margin, %	10.0	7.4		17.3	17.4		18.4	18.5
Operating profit	69	40	73	491	453	8	714	676
Operating margin, %	6.4	3,9		14.0	14.0		15.2	15.2
Net profit for the period1	34	38	-12	352	363	-3	554	566
Earnings per share, SEK1,2	0.50	0.57		5.26	5.43		8.28	8.46
Cash flow from operating activities	301	257	17	567	428	32	699	560
Return on operating capital, 12 m, %	34.0	27.3		34.0	27.3		34.0	32.5
Net debt/EBITDA, 12 m, ratio	0.9	1.6		0.9	1.6		0.9	1.2
Sales volume, ktonnes	67.6	61.9	9	210.5	216.3	-3	278.7	284.5

1 Net profit R12 and for full-year 2022 includes a capital gain in net financial items of SEK 42 million from the sale in Q4 2022 of the minority shareholding in Åmotfors Energi AB.

2 Before and after dilution

For further information, please contact:

Niclas Eriksson, CFO

Tel: +46 705 654 257

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

Henrik Essén, Head of Sustainability and Communication

Tel: +46 730 573 801

E-mail: 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 above, at 7.30 am CET on 31 October 2023.

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 85 countries. Nordic Paper had in 2022 net sales of SEK 4,440m, about 670 employees and is listed on Nasdaq Stockholm. www.nordic-paper.com