EBITDA margin was 19% and operating profit reached SEK 658 million ($82 million) which was SEK 40 million ($5 million) below 1Q 2015. EBITDA decreased with 3%, primarily due to Latgran not contributing in the quarter. Reduction in variable costs is mainly explained by lower raw material costs. The increase in fixed costs was attributable to increased staff costs compared to same period last year.
Per Lindberg, President and CEO, said: ”We have again had a tough quarter with production lower than expected, due to last year’s rebuilds. Production improved during the quarter and I anticipate production to reach target run rate at the end of the 2Q. Even if we did not reach our own growth expectations I still think we deliver a solid and satisfactory financial result. Our markets continue to be stable and we expect that growth will materialise as production stabilises.”
BillerudKorsnäs AB is a Swedish pulp and paper manufacturer with headquarters in Solna. The company was established in 2012 as a fusion of competing firms Billerud AB and Korsnäs AB.
