Nordic Paper’snet sales for the Q3 2023 amounted to SEK 1,077 million ($99 million), which is 4% higher than the same period in 2022, above all affected by positive currency effects and by the higher sales volumes. Selling prices in local currency were 5% lower than in the Q3 last year. Compared with the Q3 2022, net sales in Europe – the company’s largest market – were stable, while sales increased in North and South America, where most of the sales is in USD, and also in the Middle East and Africa.
EBITDA amounted to SEK 108 million ($9.9 million) for the Q3 2023, which is an increase of 40% compared with the same period last year. The quarter’s EBITDA includes electricity support received from the Swedish government of SEK 20 million ($1.8 million).
The EBITDA margin was 10.0%. The margin was negatively impacted by product mix, as for example there were external sales of market pulp at lower profitability than paper within the segment Kraft Paper.
Operating profit amounted to SEK 69 million ($6.3 million), corresponding to an operating margin of 6.4%. Net financial items for the Q3 2023 amounted to SEK –21 million ($1.9 million) of which net interest made up SEK –16 million ($1.5 million), and otherwise explained by exchange rate differences on cash and cash equivalents. Tax expense for the Q3 2023 was SEK 15 million ($1.4 million). Net profit for the period was SEK 34 million ($3.1 million).
January–September 2023
Net sales for the first nine months of the year increased by 8% to SEK 3,501 million ($321 million). Higher selling prices were the main factor explaining the increase.
EBITDA for January–September increased to SEK 606 million ($55 million), corresponding to an EBITDA margin of 17.3%. The higher selling prices had a positive effect on EBITDA, while lower sales volumes had a negative impact compared with the same period the previous year.
Operating profit amounted to SEK 491 million ($45 million), corresponding to an operating margin of 14.0%. Net profit for the period was SEK 352 million ($32.2 million).
Nordic Paper is a leading speciality paper producer based in Scandinavia.
