Nordic Paper Interim report January-September 2022
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
| SEKm | 2022 Q3 |
2021 Q3 |
Δ, % | 2022 Jan–Sep |
2021 Jan–Sep |
Δ, % | R 12 m | 2021Full 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 | 2.1 | 17.4 | 10.3 | 17.0 | 11.6 | ||
| Adjusted EBITDA margin, %1 | 7.4 | 2.1 | 17.4 | 13.6 | 17.0 | 14.1 | ||
| Operating profit | 40 | -14 | 453 | 148 | 207 | 513 | 208 | |
| Adjusted operating profit1,2 | 40 | -14 | 453 | 224 | 102 | 545 | 316 | |
| Operating margin, % | 3.9 | -1.9 | 14.0 | 6.5 | 12.7 | 6.8 | ||
| Adjusted operating margin, %1,2 | 3.9 | -1.9 | 14.0 | 9.8 | 13.5 | 10.3 | ||
| Net profit for the period | 38 | -17 | 363 | 100 | 265 | 408 | 144 | |
| Earnings per share, SEK3 | 0.57 | -0.25 | 5.43 | 1.49 | 6.10 | 2.15 | ||
| Cash flow from operating activities | 257 | 153 | 69 | 428 | 333 | 28 | 503 | 408 |
| Return on operating capital, 12 m, % | 27.3 | 20.9 | 27.3 | 20.9 | 27.3 | 15.9 | ||
| Net debt/EBITDA, 12 m, multiple | 1.6 | 1.7 | 1.6 | 1.7 | 1.6 | 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: [email protected]
Henrik Essén, Head of Strategy and IR
Tel: +46 730 573 801
Email: [email protected]
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.