BillerudKorsnas' net sales for the 4Q 2020 was almost unchanged and amounted to SEK 5 803 million ($699 milion). Excluding currency effects sales grew by 2%.
Adjusted EBITDA declined to SEK 568 million ($68.4 milion), negatively impacted by lower market prices and higher maintenance costs compared with last year, and positively impacted by lower fibre costs, reduced negative KM7 ramp-up impact and cost savings.
Christoph Michalski, President and CEO, said: “BillerudKorsnäs delivered a decent 4Q financial results. Net sales excluding currency effects grew as a result of higher sales volumes. Adjusted EBITDA declined due to lower market prices, higher maintenance costs and unfavourable currency effects, while lower fibre costs had a positive impact. The company has a healthy financial position and the Board of Directors proposes a dividend of SEK 4.30 per share.”
Net sales for 2020 declined by 2% to SEK 23 884 million ($2.8 bilion), mainly due to lower market prices in Product area Paper, while sales volumes increased by 4% and totalled approximately 2.8 million tonnes. Net sales increased in Product area Board and decreased in Product area Paper. Movements in currency rates did not have material impact on net sales.
FY 2020 adjusted EBITDA decreased by 5% to SEK 2 703 million ($325 milion). Lower market prices were only partly offset by lower costs for raw materials, higher volumes and cost savings.
FY 2020 net profit amounted to SEK 660 million ($79.5 milion). In 2019, net profit included the result from discontinued operations of SEK 5 907 million ($711 milion) and dividend from Bergvik Skog AB of SEK 352 million ($42.4 milion), as a result of the divestment of Bergvik Skog Öst.
BillerudKorsnäs is one of the leading manufacturers of packaging paper made from virgin fibers.
Source: Lesprom Network