Nordic Paper Year-end report January – December 2021
quarterly results october - december
- Net sales increased by 21% to SEK 810m (670).
- EBITDA was SEK 124m (144) corresponding to an EBITDA margin of 15.4% (21.4).
- Operating profit amounted to SEK 61m (113), corresponding to an operating margin of 7.5% (16.8%). Excluding write-down of SEK 32m in relation to the closure of the pulp production in Säffle, adjusted operating profit was SEK 93m (113) corresponding to an adjusted operating margin of 11.4% (16.8).
- Net result for the period amounted to SEK 45m (75) and earnings per share was SEK 0.67 (1.13).
- Cash flow from operating activities was SEK 75m (17).
- Return on operating profit was 15.9% (26.9).
- Sales volume increased by 8% to 69 ktonnes (64).
- On 31 December 2021 the Canadian specialty paper producer Glassine Canada Inc was acquired for a preliminary purchase price on a cash and debt free basis of SEK 644m. The acquisition strengthens the position of the group in the North American market for greaseproof papers.
- The Board of Directors proposes a dividend of SEK 2.00 per share, corresponding a total amount of SEK 134m.
key figures
| SEKm | 2021 Q4 |
2020 Q4 |
Δ, % | 2021 Full year | 2020 Full year | Δ, % |
| Net sales | 810 | 670 | 21 | 3,083 | 2,903 | 6 |
| EBITDA | 124 | 144 | -13 | 358 | 458 | -22 |
| Adjusted EBITDA 1 | 124 | 144 | -13 | 434 | 458 | -5 |
| EBITDA-margin, % | 15.4 | 21.4 | 11.6 | 15.8 | ||
| Adjusted EBITDA-margin, % 1 | 15.4 | 21.4 | 14.1 | 15.8 | ||
| Operating profit | 61 | 113 | -46 | 208 | 348 | -40 |
| Adjusted operating profit 1, 2 | 93 | 113 | -18 | 316 | 348 | -9 |
| Operating margin, % | 7.5 | 16.8 | 6.8 | 12.0 | ||
| Adjusted operating margin, % 1, 2 | 11.4 | 16.8 | 10.3 | 12.0 | ||
| Profit for the period | 45 | 75 | -41 | 144 | 258 | -44 |
| Earnings per share, SEK | 0.67 | 1.13 | 2.15 | 3.85 | ||
| Cash flow from operating activities | 75 | 17 | 331 | 408 | 352 | 16 |
| Return on operating capital 12m, % | 15.9 | 26.9 | 15.9 | 26.9 | ||
| Net debt/EBITDA 12 m, ratio 3 | 3.7 | 1.6 | 3.7 | 1.6 | ||
| Sales volume, ktonnes | 69 | 64 | 8 | 281 | 267 | 5 |
1 Full year 2021 adjusted for the SEK 76m provision that was made in Q2 2021 for remediation of buildings and land in Säffle
2 Q4 2021 and full year 2021 adjusted for the SEK 32m write-down of the pulp production in Säffle that was made in Q4 2021
3 Net debt adjusted for the acquisition of Glassine Canada amounts to SEK 674m and corresponds to a net debt excluding the acquisition of Glassine Canada Inc/EBITDA 12 m ratio of 1.9
For further information, please contact:
Niclas Eriksson, CFO
Tel: +46 705 654 257
E-mail: [email protected]
Henrik Essén, Head of Strategy and IR
Tel: +46 730 573 801
E-mail: [email protected]
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 CET on 28 January 2022.