BillerudKorsnäs’ net sales for the 4Q 2018 totalled SEK 5,843 million ($649 million), or 5% higher than for the same quarter last year. The increase was mainly due to increased sales prices in Packaging Paper and Corrugated Solutions, combined with a better sales mix for Packaging Paper and a positive currency effect, as the company says in the press release received by Lesprom Network.
4Q 2018 EBITDA decreased by SEK 129 million ($14.3 million) to SEK 794 million ($88.2 million), owing to a negative impact from increased costs for fibre and chemicals following strong market demand. Planned maintenance shutdowns amounted to SEK 148 million ($16.4 million) compared with SEK 140 million ($15.6 million) in the corresponding quarter last year.
BillerudKorsnas reports 4Q 2018 profit of SEK 309 million ($34.3million), down 16% year-over-year.
Net sales for 2018 were 6% higher than last year, driven by higher sales prices in Packaging Paper and Corrugated Solutions combined with a better sales mix for Packaging Paper and Consumer Board and a positive currency effect. FY 2018 net sales amounted to SEK 23,692 million ($2.6 billion), compared to SEK 22,345 million ($2.5 million) in 2017.
EBITDA decreased by SEK 817 million ($90.8 million) to SEK 2,943 million ($327 million), following increases in fibre and chemical cost, the provision of SEK 452 million ($50.2 million) in 2Q 2018, the impact from the wood shortage and increased costs for maintenance shutdowns.
Adjusted EBITDA for the full year decreased by 10% to SEK 3,476 million ($386 million).
Petra Einarsson, President and CEO, said: “Demand for innovative and sustainable packaging continued to increase during the year, driving a solid growth. For the full year, net sales were 6% higher than in 2017. A strong market in combination with our position in selected segments have enabled us to raise prices throughout the year, resulting in record earnings for Packaging Paper. Full year production levels were in line with our expectations, and despite some challenges early in the year we reached record levels at Gävle, Karlsborg, Frövi and Rockhammar.”
BillerudKorsnäs is one of the leading manufacturers of packaging paper made from virgin fibers.
