Nordic Paper year-end report January-December 2022
Regulatory
QUARTERLY RESULTS oCtober - december
- Net sales increased by 49% to SEK 1,206m (810m). The Canadian operations acquired on 31 December 2021 contributed with SEK 93m to net sales.
- EBITDA increased to SEK 260m (124m), corresponding to an EBITDA margin of 21.5% (15.4%).
- Operating profit amounted to SEK 223m (61m), corresponding to an operating margin of 18.5% (7.5%).
- Net profit for the period was SEK 202m (45m) and earnings per share amounted to SEK 3.03 (0.67).
- Cash flow from operating activities was SEK 132m (75m).
- Return on operating capital 12 m was 32.5% (15.9%).
- Net debt/EBITDA 12 m amounted to 1.2 (3.7).
- Sales volumes amounted to 68.2 ktonnes (69.3), of which 3.3 ktonnes were from acquired operations.
- During the quarter, Nordic Paper sold its 37.6% minority shareholding in Åmotfors Energi AB. The results for the quarter include a capital gain in net financial items and a positive cash flow effect from investing activities of SEK 42m as a result of the transaction.
- The Board of Directors is proposing a dividend of SEK 4.65 per share, corresponding to a total dividend of SEK 311m.
KEY FIGURES
| SEKm | 2022 Q4 |
2021 Q4 |
Δ, % | 2022 Full year |
2021 Full year |
Δ, % |
| Net sales | 1,206 | 810 | 49 | 4,440 | 3,083 | 44 |
| EBITDA | 260 | 124 | 109 | 821 | 358 | 129 |
| Adjusted EBITDA1 | 260 | 124 | 109 | 821 | 434 | 89 |
| EBITDA margin, % | 21.5 | 15,4 | 18.5 | 11.6 | ||
| Adjusted EBITDA margin, %1 | 21.5 | 15,4 | 18.5 | 14.1 | ||
| Operating profit | 223 | 61 | 268 | 676 | 208 | 225 |
| Adjusted operating profit1,2 | 223 | 93 | 141 | 676 | 316 | 114 |
| Operating margin, % | 18.5 | 7.5 | 15.2 | 6.8 | ||
| Adjusted operating margin, %1,2 | 18.5 | 11.4 | 15.2 | 10.3 | ||
| Net profit for the period | 202 | 45 | 354 | 566 | 144 | 293 |
| Earnings per share, SEK3 | 3.03 | 0.67 | 8.46 | 2.15 | ||
| Cash flow from operating activities | 132 | 75 | 76 | 560 | 408 | 37 |
| Return on operating capital, 12 m, % | 32.5 | 15.9 | 32.5 | 15.9 | ||
| Net debt/EBITDA, 12 m, multiple | 1.2 | 3.7 | 1.2 | 3.7 | ||
| Sales volume, ktonnes | 68.2 | 69.3 | -2 | 284.5 | 280.6 | 1 |
1 For full year 2021 adjusted for the SEK 76m provision made in Q2 2021 for remediation of buildings and land in Säffle
2 For Q4 2021 and for full year 2021 adjusted for the impairment loss of SEK 32m recognised in Q4 2021 in respect of pulp production in Säffle
3 Net profit for the period includes a capital gain in net financial items of SEK 42m from the sale of the minority shareholding in Åmotfors Energi AB.
4 Before and after dilution
For further information please contact:
Niclas Eriksson, CFO
Tel: +46 705 654 257
Email: niclas.eriksson@nordic-paper.com
Henrik Essén, Head of Strategy and IR
Tel: +46 730 573 801
Email: henrik.essen@nordic-paper.com
This is information that Nordic Paper 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 above, at 7.30am CET on 27 January 2023.