Interim R Interim Repor eport Q1 2018 Q1 2018 Ma Magn gnus us Gr Grot oth, , Pr Pres esiden ident t an and d CEO CEO
This presentation may contain forward-looking statements. Such statements are based on our current expectations and are subject to certain risks and uncertainties that could negatively affect our business. Please read our most recent annual and sustainability report for a better understanding of these risks and uncertainties. 2 April 27, 2018 Interim Report Q1 2018
Summar Summary Q1 2018 Q1 2018 Q1 2018 vs Q1 2017 ▪ Organic net sales 1) increased 3.4% ▪ Adjusted EBITA-margin 2) decreased 40bp due to significantly higher raw material costs ▪ Price increases achieved in Consumer Tissue in Europe that have not yet impacted earnings ▪ Good contribution from efficiency improvements ▪ Investments and further restructuring measures following Tissue Roadmap ▪ BSN medical integration and synergies progressing according to plan ▪ Four innovations launched under the brands Jobst, Leukoplast, Lotus and Tork 1) Net sales which excludes exchange rate effects, acquisitions and divestments 2) Excluding items affecting comparability 3 April 27, 2018 Interim Report Q1 2018
Financial Summar Financial Summary Q1 2018 vs Q1 2017 Ne Net t Sales Adjusted EBIT Adjust BITA 2) Adjust Adjusted EBIT BITA A Mar Margin 2) 2) 2) SEK SEK SEK SEK 11.1% 11 .1% 28 28,020 ,020m 3,11 3,119m 9m -40bp 40bp +1 +10.9% 0.9% +7% +7% Or Organic Ne Net t Sales 1) Organic Adjust Or Adjusted EBIT BITA Op Operating ting Cash Cash Flow 1) SEK SEK +3.4% +3 .4% -5% 5% 3) 3) x% x% 2,38 2,386m 6m 1) Net sales which excludes exchange rate effects, acquisitions and divestments 2) Excluding items affecting comparability 3) Excluding items affecting comparability, currency translation effects and acquisitions 4 April 27, 2018 Interim Report Q1 2018
Financial Summar Financial Summary Q1 2018 Adjust Adjusted ROCE OCE 1) Adjusted ROE Adjust OE 1) 11.9% 11 .9% 15.3% 15 .3% SEK K x EPS EPS Ad Adjus juste ted EPS EPS 2 ) 2.08 2.08 2.61 2.61 SEK K x SEK SEK SEK SEK 1) Excluding items affecting comparability 2) Excluding items affecting comparability and amortization of acquisition related intangible assets 5 April 27, 2018 Interim Report Q1 2018
Net Net Sale Sales Q1 2018 vs Q1 2017 +10.9% +8.1% -0.6% SEK 28,020m Organic Net Sales +3.4% +2.5% +0.9% SEK 25,268m Net Sales Price/Mix Volume Acquisitions Currency Net Sales Q1 2017 Q1 2018 6 April 27, 2018 Interim Report Q1 2018
Adjusted Adjust ed EBIT EBITA 1) 1) Q1 2018 vs Q1 2017 +7% Organic Adjusted EBITA 1) -5% SEK +250m SEK -755m SEK +353m SEK -12m SEK 3,119m SEK +129m SEK 2,917m SEK +232m SEK -35m SEK +40m Adjusted Price/Mix Volume Raw Material Energy Cost Savings Other Acquisitions Currency Adjusted 1) 1) EBITA EBITA Q1 2017 Q1 2018 1) Excluding items affecting comparability 7 April 27, 2018 Interim Report Q1 2018
Raw Raw Ma Material terial De Development elopment Paper for Recycling 1) Market Pulp in USD, Europe Market Pulp in USD, China Index 100 = January 2016 Index 100 = January 2016 Index 100 = January 2016 150 150 150 125 125 125 100 100 100 75 75 75 50 50 50 Jan-16 Mar-16 May-16 Jul-16 Sep-16 Nov-16 Jan-17 Mar-17 May-17 Jul-17 Sep-17 Nov-17 Jan-18 Mar-18 Jan-16 Mar-16 May-16 Jul-16 Sep-16 Nov-16 Jan-17 Mar-17 May-17 Jul-17 Sep-17 Nov-17 Jan-18 Mar-18 Jan-16 Mar-16 May-16 Jul-16 Sep-16 Nov-16 Jan-17 Mar-17 May-17 Jul-17 Sep-17 Nov-17 Jan-18 Mar-18 SOP US SOP EU NBSK (China) EUCA (China) Fluff (EU) NBSK (EU) EUCA (EU) 1) Index based in local currencies 8 April 27, 2018 Interim Report Q1 2018
Inno Innova vations f tions for or People eople and Na and Natur ture Q1 2018 ▪ Four innovations launched under the brands Jobst, Leukoplast, Lotus and Tork 9 April 27, 2018 Interim Report Q1 2018
Per ersonal Car sonal Care Adjusted EBITA 1) Adjusted EBITA Margin 1) Net Sales 14.5% 14.2% SEK 10,785m -30bp Q1 2018 vs Q1 2017 SEK 1,532m +27.6% SEK 8,455m SEK 1,228m +25% ▪ Organic net sales increased 4.5% ─ Volume +5.9% and price/mix -1.4% ─ All product segments contributed Q1 2017 Q1 2018 Q1 2017 Q1 2018 Q1 2017 Q1 2018 ▪ Adjusted EBITA margin 1) 14.2% ▪ BSN medical integration and synergies progressing Organic Net Sales By Region according to plan Higher adjusted EBITA margin 1) ─ By Region By Product Segment ▪ Significant raw material headwinds +7.1% +5.2% +4.5% +4.5% +4.5% ▪ Good contribution from cost savings ▪ +1.1% Continued competitive pressure 0.1% 1) Total Mature Emerging Incontinence Baby Feminine Medical Markets Markets Products Care Care Solutions % of Personal Care Net Sales: 63% 37% 43% 21% 17% 19% 1) Excluding items affecting comparability 10 April 27, 2018 Interim Report Q1 2018
Consu Consumer mer Tissue Tissue Net Sales Adjusted EBITA 1) Adjusted EBITA Margin 1) 11.0% SEK 11,003m Q1 2018 vs Q1 2017 SEK 10,473m 8.8% +5.1% SEK 1,151m -220bp SEK 966m ▪ Organic net sales increased 3.9% -16% ─ Volume +1.9% and price/mix +2.0% Adjusted EBITA margin 1) 8.8% ▪ Q1 2017 Q1 2018 Q1 2017 Q1 2018 Q1 2017 Q1 2018 ▪ Higher prices in Asia and Latin America ▪ Higher sales in Europe due to higher volumes and better Organic Net Sales By Region mix but lower prices ▪ Price increases achieved in Europe that have not yet +6.4% impacted earnings +3.9% ▪ Significant raw material headwinds +1.5% ▪ Good contribution from cost savings Total Mature Emerging ▪ Further restructuring measures following Tissue Roadmap Markets Markets % of Consumer Tissue Net Sales: 57% 43% 1) Excluding items affecting comparability 11 April 27, 2018 Interim Report Q1 2018
Pr Prof ofessional essional Hygiene Hygiene Net Sales Adjusted EBITA 1) Adjusted EBITA Margin 1) SEK 6,383m Q1 2018 vs Q1 2017 SEK 6,218m -2.6% 12.4% SEK 720m SEK 772m 11.3% ▪ Organic net sales increased 0.4% +110bp +7% ─ Volume -1.8% and price/mix +2.2% Adjusted EBITA margin 1) of 12.4% ▪ Q1 2017 Q1 2018 Q1 2017 Q1 2018 Q1 2017 Q1 2018 Q1 2017 Q1 2018 ▪ Lower volumes in North America ▪ Higher prices in North America and better mix in both North Organic Net Sales By Region America and Western Europe ▪ Raw material headwinds ▪ +11.5% Good contribution from cost savings ▪ Investments and further restructuring measures following Tissue Roadmap +0.4% -2.1% Total Mature Emerging Markets Markets % of Professional Hygiene Net Sales: 81% 19% 1) Excluding items affecting comparability 12 April 27, 2018 Interim Report Q1 2018
Summar Summary Q1 2018 Q1 2018 Q1 2018 vs Q1 2017 ▪ Organic net sales 1) increased 3.4% ▪ Adjusted EBITA-margin 2) decreased 40bp due to significantly higher raw material costs ▪ Price increases achieved in Consumer Tissue in Europe that have not yet impacted earnings ▪ Good contribution from efficiency improvements ▪ Investments and further restructuring measures following Tissue Roadmap ▪ BSN medical integration and synergies progressing according to plan ▪ Four innovations launched under the brands Jobst, Leukoplast, Lotus and Tork 1) Net sales which excludes exchange rate effects, acquisitions and divestments 2) Excluding items affecting comparability 13 April 27, 2018 Interim Report Q1 2018
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