BillerudKorsnäs to make SEK 450 million ($50.6 million) provision in 2Q

Posted July 13, 2018
BillerudKorsnäs has within the scope of the recently launched group-wide program for improved production efficiency decided to implement measures with the aim of strengthening the workplace efficiency and environment at several of the Group’s mills.

In total, a provision of approximately SEK 450 million ($50.6 million) will be made, of which approximately SEK 200 million ($22.5 million) will impact cash flow over a three-year period. The provision will have a negative effect on the result in the 2Q 2018.

The measures to strengthen the workplace environment will be taken during the ordinary maintenance shutdowns, starting after the summer, and continue through two to three maintenance cycles, depending on the work carried out. The measures will include demolition of old buildings and decontamination.

As the final stage of the consolidation of Billerud and Korsnäs, it has also been decided to implement unified accounting principles regarding spare parts and consumables at the mills, which will lead to impairment losses with effect in the 2Q.

BillerudKorsnäs is one of the leading manufacturers of packaging paper made from virgin fibers.



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