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INTERIM REPORT JANUARY-MARCH 2014 2014-04-24 Per Lindberg, CEO and President, and Susanne Lithander, CFO
EVIDENCE OF STRENGTH
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KEY HIGHLIGHTS Q1 2014 INTERIM REPORT NET SALES SEK 5 410 MILLION. ADJUSTED OPERATING PROFIT SEK 555 MILLION
5 181
4 755
5 410
4 400
4 600
4 800
5 000
5 200
5 400
5 600
Q1 13 Q4 13 Q1 14
Net sales, SEKm
3
4%
14%
438
232
555
0
100
200
300
400
500
600
Q1 13 Q4 13 Q1 14
Adj. op. profit, SEKm
27%
139%
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
277
148
385
0
100
200
300
400
Q1 13 Q4 13 Q1 14
Op. cash flow, SEKm
4
39%
160% 7
6
7
4
6
8
Q1 13 Q4 13 Q1 14
ROCE, %
0,86 0,85 0,78
0,00
0,30
0,60
0,90
Q1 13 Q4 13 Q1 14
Net debt/equity
All 2013 comparable numbers include Bomhus Energi AB.
STRONG SEK STILL CHALLENGING
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TCW
inde
x*
Source: Riksbanken *Total Competitiveness Weights Index
100% OF FORECASTED NET FLOWS IN EUR HEDGED FOR 2014
90
95
100
105
110
115
120
2004 Q4 -05 Q4 -06 Q4 -07 Q4 -08 Q4 -09 Q4 -10 Q4 -11 Q4 -12 Q1 -14
BUSINESS AREA PACKAGING PAPER
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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.
BUSINESS AREA CONSUMER BOARD
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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
BUSINESS AREA CONTAINERBOARD
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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
ON TRACK TO REACH SYNERGY TARGETS AHEAD OF PLAN ANNUAL PACE OF MSEK ~445 AS PER END OF Q1 2014
9 *Synergies and savings realised in the quarter, compared to if the synergy and savings programme had not been initiated.
0100200300400500600
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2013 2014
MSE
K
Quarterly synergies* Annual pace
Target
OUTLOOK
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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
ANNUAL GENERAL MEETING ON 6 MAY 2014
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BillerudKorsnäs’ Annual General Meeting on 6 May 2014 at 14h00
Hotel Rival, Mariatorget Stockholm
Q&A
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