Half Year 2024 Nordic Paper Holding AB Earnings Call Transcript
Key Points
- Net sales increased by 9% compared to Q2 last year, reaching SEK1,225 million.
- Sales volumes rose by 11%, indicating strong demand.
- EBITDA margin improved to 22.9%, surpassing the target of 20%.
- Natural greaseproof segment achieved a new record for EBITDA margin and the third consecutive quarter of record EBITDA.
- The company has a strong and robust balance sheet with a net debt to EBITDA ratio of 1.5, well below the target of 2.5.
- Product prices are still 5% lower than the corresponding quarter last year.
- Kraft paper segment prices are 10% lower than last year, despite recent price increases.
- The price for raw materials, particularly pulpwood, has continued to increase due to lower availability.
- Maintenance stops in Q3 are expected to incur costs and reduce production output.
- The market in Europe is only now returning to previous demand levels after a challenging 2023.
Thank you very much. Good morning and warm welcome again to this Q2 presentation from Nordic Paper. My name is Henrik Essén. I'm Head of Investor Relations at Nordic Paper. And today we send this presentation from Karlstad, the head office of Nordic Paper. And with me today, I have Anita Sjölander, CEO, and Niclas Eriksson, CFO. With this, please go ahead, Anita.
Thank you, Henrik, and good morning to you all. Thank you for listening in today to our Q2 results. My name is Anita Sjölander, and I have the privilege of being the CEO of Nordic Paper. Now it's a bit more than five years, and I joined the company in 2018. But I spend quite a lot of time in this business. I have devoted more than 30 years of my work life to the pattern paper industry. And the reason for that is really the passion I have for the product that is based on a renewable resource. And also the difference this product can make when it comes
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