Nordic Paper Interim report January-March 2022

quarterly results january - march

• Net sales increased by 36% to SEK 1,052m (772). The Canadian operations that were acquired on 31 December 2021 contributed in the quarter with a net sales of SEK 73m.
• EBITDA amounted to SEK 237m (134) corresponding to an EBITDA margin of 22.6% (17.4).
• Operating profit was SEK 202 (106), corresponding to an operating margin of 19.2% (13.8%).
• Net result for the period amounted to SEK 162m (81) and earnings per share was SEK 2.42 (1.21).
• Cash flow from operating activities was SEK 53m (47).
• Return on operating profit was 20.5% (23.7).
• Sales volumes increased by 2% to 77 ktonnes (75) out of which 3 ktonnes was from the acquired operations in Canada.

KEY FIGURES

SEKm	2022 Q1	2021 Q1	Δ, %	R 12 m	2021 Full year
Net sales	1,052	772	36	3,363	3,083
EBITDA	237	134	77	461	358
Adjusted EBITDA 1	237	134	77	537	434
EBITDA-margin, %	22.6	17.4		13.7	11,6
Adjusted EBITDA-margin, % 1	22.6	17.4		16.0	14.1
Operating profit	202	106	90	304	208
Adjusted operating profit 1, 2	202	106	90	412	316
Operating margin, %	19.2	13.8		9.0	6.8
Adjusted operating margin, % 1, 2	19.2	13.8		12.3	10.3
Profit for the period	162	81	100	225	144
Earnings per share, SEK	2.42	1.21		3.36	2.15
Cash flow from operating activities	53	47	13	444	408
Return on operating capital 12m, %	20.5	23.7		20.5	15.9
Net debt/EBITDA 12 m, ratio	2.8	1.7		2.8	3.7
Sales volume, ktonnes	77	75	2	282	281

1 Full year 2021 and R 12 m adjusted for the SEK 76m provision that was made in Q2 2021 for remediation of buildings and land in Säffle

2 Full year 2021 and R 12 m adjusted for the SEK 32m write-down of the pulp production in Säffle that was made in Q4 2021

For further information, please contact:

Niclas Eriksson, CFO

Tel: +46 705 654 257

E-mail: niclas.eriksson@nordic-paper.com

Henrik Essén, Head of Strategy and IR

Tel: +46 730 573 801

E-mail: henrik.essen@nordic-paper.com

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 CEST on 28 April 2022.

Nordic Paper is a leading specialty paper producer with its base in Scandinavia. We have been manufacturing top-quality kraft papers and natural greaseproof papers since the 19th century. Our products are based on renewable raw material from local forests. From our five paper mills, four in Scandinavia and one in Canada, we supply customers in about 80 countries. Nordic Paper had in 2021 net sales of approximately SEK 3,100m, about 690 employees and is listed on Nasdaq Stockholm. www.nordic-paper.com