INTERIM REPORT JANUARY-MARCH 2014 2014-04-24 Per Lindberg, CEO and President, and Susanne Lithander, CFO 1
EVIDENCE OF STRENGTH 2
KEY HIGHLIGHTS Q1 2014 INTERIM REPORT NET SALES SEK 5 410 MILLION. ADJUSTED OPERATING PROFIT SEK 555 MILLION Net sales, SEKm Adj. op. profit, SEKm 5 600 600 555 27% 5 400 500 4% 5 410 438 5 200 400 5 181 139% 14% 5 000 300 232 4 800 200 4 755 4 600 100 4 400 0 Q1 13 Q4 13 Q1 14 Q1 13 Q4 13 Q1 14 3 All 2013 comparable numbers include Bomhus Energi AB.
KEY HIGHLIGHTS Q1 2014 INTERIM REPORT CASH FLOW SEK 385 MILLION. ROCE 7%, NET DEBT/EQUITY 0.78 Op. cash flow, SEKm ROCE, % Net debt/equity 400 8 0,90 385 0,86 0,85 39% 0,78 300 7 7 0,60 277 160% 200 6 6 0,30 148 100 0 4 0,00 Q1 13 Q4 13 Q1 14 Q1 13 Q4 13 Q1 14 Q1 13 Q4 13 Q1 14 4 All 2013 comparable numbers include Bomhus Energi AB.
STRONG SEK STILL CHALLENGING 100% OF FORECASTED NET FLOWS IN EUR HEDGED FOR 2014 120 115 110 TCW index* 105 100 95 90 2004 Q4 -05 Q4 -06 Q4 -07 Q4 -08 Q4 -09 Q4 -10 Q4 -11 Q4 -12 Q1 -14 Source: Riksbanken *Total Competitiveness Weights Index 5
BUSINESS AREA PACKAGING PAPER Normal market situation for kraft and sack paper Net sales MSEK 2 068 Operating profit MSEK 191 Operating margin 9% Key take-away The order situation for kraft and sack paper is on a normal level. Prices in local currency were slightly down compared to previous quarter due to new capacity entering the market. 6
BUSINESS AREA CONSUMER BOARD Stable and satisfactory market situation with normal seasonal variances Net sales MSEK 1 949 Operating profit MSEK 233 Operating margin 12% Key take-away Stable demand and continued global growth 7
BUSINESS AREA CONTAINERBOARD Stable order book except for order intake on Liner Net sales MSEK 792 Operating profit MSEK 117 Operating margin 15% Key take-away Stable order intake except for Liner, which was weaker due to increased market competition Parts of Containerboard’s product range experienced increased price pressure in local currency 8
ON TRACK TO REACH SYNERGY TARGETS AHEAD OF PLAN ANNUAL PACE OF MSEK ~445 AS PER END OF Q1 2014 600 Target 500 400 MSEK 300 200 100 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2013 2014 Quarterly synergies* Annual pace *Synergies and savings realised in the quarter, compared to if the synergy and savings programme had not been initiated. 9
OUTLOOK Demand and order situation is expected to remain stable during the second quarter 2014 for all business areas Average prices in local currency are anticipated to stay on current level for the second quarter 2014 for all business areas Wood prices are expected to stay on current level for the second quarter of 2014 The target of approximately SEK 530 million in annual synergies and savings is unchanged, and is expected to be reached by the end of 2014 10
ANNUAL GENERAL MEETING ON 6 MAY 2014 BillerudKorsnäs’ Annual General Meeting on 6 May 2014 at 14h00 Hotel Rival, Mariatorget Stockholm 11
Q&A 12
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