Interim report January-March 2010
Submitted for publication at 10.00 CET on 29 April 2010 (Tables included in attached PDF) January-March 2010 compared with the same period in 2009 • Net sales amounted to SEK 2 190 million (1 900). • Profit for the period amounted to SEK 156 million (-39). • Earnings per share amounted to SEK 1.52 (-0.53). • Operating profit amounted to SEK 234 million (-37), which corresponded to a margin of 11% (-2). January-March 2010 compared with October-December 2009 • Net sales amounted to SEK 2 190 million (2 060). • Profit for the period amounted to SEK 156 million (160). • Operating profit amounted to SEK 234 million (231), an improvement of SEK 3 million, mainly due to improved prices in local currency which were offset by higher variable costs. • The strong order bookings continued in the first quarter. • Continued strong cash flow. Outlook for the full-year 2010 • The second quarter of 2010 started with continued good demand within all segments. • Price increases have been implemented for all products and further price increases have been announced in order to gradually restore prices to sustainable levels in the long term. • Strike action during the second quarter will have a negative effect on total deliveries for the full year. Billerud’s CEO Per Lindberg and CFO Bertil Carlsén will present the interim report at a press conference on Thursday, 29 April at. 13.00 CET. Venue: Spårvagnshallarna, Birger Jarlsgatan 57 A, Stockholm. Comments by Billerud’s CEO Per Lindberg: Second consecutive quarter with an operating margin above 10% “With an operating profit of SEK 234 million for the first quarter of 2010 we now have two consecutive quarters behind us when we have achieved our target of an operating margin in excess of 10%. This, combined with continued stable demand, is a sign that the recovery is now standing on increasingly firm ground. The favourable demand means that work to restore price levels is well set to continue. Since we are forced to adapt the pace of these price increases to our customers’ market situation, these increases are being implemented in stages as their business improves. In parallel the work of developing our products is also under way. We continuously see the result in terms of new customers, new applications and commercial successes. It is satisfactory to see what we have achieved in terms of new ideas and innovations, even though a lot remains to be done. “Billerud now stands strong both as a business and financially and we are looking forward with confidence to the continued recovery.” For further information in connection with this report, please contact Per Lindberg, President and CEO, +46 8 553 335 00 or +46 70 248 15 17 and Bertil Carlsén, CFO, +46 8 553 335 00 or +46 730 211 092 This information is such that Billerud AB is required to disclose under the Securities Market Act.