Billerud Ab · OMXSTO:BILL
Billerud Ab — BillerudKorsnäs — Q4 2024 Earnings Presentation
17 slides from Billerud Ab's earnings presentation, Feb 4, 2025
Slide 1: Robust fourth quarter concluded a year of improved results and launch of new strategy
Robust fourth quarter concluded a year of improved results and launch of new strategy Interim report January-December 2024 Ivar Vatne Andrei Krés CEO CFO 4th of February 2025
Slide 2: Performance and key highlights Full Year 2024
INTERIM REPORT JANUARY-DECEMBER 2024 Performance and key highlights Full Year 2024 Change Improved results under challenging and rapidly changing SEKm 2024 vs 2023 conditions Net sales 43,453 +5% Increased volumes, improved sales prices and sales mix Adjusted EBITDA 5,167 +43% % of net sales 12% +3
Slide 3: Performance and key highlights Q4 2024
INTERIM REPORT JANUARY-DECEMBER 2024 Performance and key highlights Q4 2024 Q4-24 Change Change Net sales growth of 20%, supported by both regions SEKm vs Q3-24 vs Q4-23 Net sales 11,468 +6% +20% Continued excellent profit delivery in North America Adjusted EBITDA 1,443 -7% +86% % of net sales 13% -
Slide 4: Better-than-expected market conditions during Q4, somewhat improved sentiment in Q1'25
INTERIM REPORT JANUARY-DECEMBER 2024 Better-than-expected market conditions during Q4 Somewhat improved market sentiment in Q1’25 Sales split, %1 Food & Drink Printing & Publishing Papers Consumer & Luxury Industrial LPB (10.1bn) 100% Cartonboard (2.7bn) 25% 75% Containerboard (5.5bn) 80% 10% 10% Kr
Slide 5: Strong sales growth driven by volume and mix improvement in both regions
INTERIM REPORT JANUARY-DECEMBER 2024 Q4’24: Strong sales growth driven by volume and mix improvement in both regions Net sales, SEKm +20% 11 468 +13% +5% 9 566 +2% Q4 2023 Currency Pricing Volume/Mix Q4 2024 rates
Slide 6: Significantly higher profitability supported by volume, pricing and efficiency program
INTERIM REPORT JANUARY-DECEMBER 2024 Q4’24: Significantly higher profitability supported by volume, pricing and strong delivery from efficiency enhancement program Adj EBITDA, SEKm +86% 484 229 147 1 443 - 162 - 183 1 296 312 - 206 774 48 Q4 2023 Currency Pricing Volume & Net of raw Efficiency Fixed
Slide 7: Europe
INTERIM REPORT JANUARY-DECEMBER 2024 REGION Europe
Slide 8: Region Europe
INTERIM REPORT JANUARY-DECEMBER 2024 • Strong YoY sales growth across all categories Region • Pricing and mix continue to offset input cost inflation in Q4 Europe • • Sequentially lower sales volumes in Q1 Significant and needed price increase on Liquid Packaging Board from Q1, partly offset by pric
Slide 9: Q4 cost headwind from pulpwood and energy; stable cost situation into Q1
INTERIM REPORT JANUARY-DECEMBER 2024 Q4 cost headwind from pulpwood and energy cost seasonality Relatively stable cost situation into Q1 Stable cost Stable Higher cost Higher for logistics for fiber energy costs chemicals costs Full impact from earlier Seasonally higher announced pulpwood price elec
Slide 10: North America
INTERIM REPORT JANUARY-DECEMBER 2024 REGION North America
Slide 11: Region North America
INTERIM REPORT JANUARY-DECEMBER 2024 • Double digit volume growth for both Graphic and Specialty segments Region • Continued excellent profit delivery - highest EBITDA margin since Q1-23 North • Operating rates remained below 70% America • Numerous promising customer trials ongoing for locally produ
Slide 12: Stable cost situation in the quarter
INTERIM REPORT JANUARY-DECEMBER 2024 Stable cost situation in the quarter Minor increase in logistics and energy costs into Q1 Stable Stable cost Stable Stable cost for for energy logistics fiber chemicals costs costs
Slide 13: Strong cash conversion in the quarter, further reduced leverage
INTERIM REPORT JANUARY-DECEMBER 2024 Strong cash conversion in the quarter Further reduced leverage SEKm Q4-24 Q4-23 2024 2023 Profit before tax 1,030 -355 2,248 185 Working capital increase due to sales growth Adjustments for non-cash items 582 1,473 2,343 2,963 Leverage reduced further to 1.0x EBI
Slide 14: Efficiency enhancement program: successful end of year
INTERIM REPORT JANUARY-DECEMBER 2024 Efficiency enhancement program: Successful end of year Program completed one year ahead of plan Ending 2024 with total program target nearly reached • Incremental impact of 230 MSEK in Q4 incl. FTE reduction program • 840 MSEK delivered in 2024 (vs 2023) – overde
Slide 15: Billerud's Way Forward
Billerud’s Way Forward Safety first: We choose to be safe every day Our purpose guides us: We make high performance packaging materials for a low carbon society We lean on our values: “We care for each other” and “We do what we say” Region North Region Europe: America: Commitment to Strengthen perfo
Slide 16: Outlook for Q1 2025
INTERIM REPORT JANUARY-DECEMBER 2024 Outlook for Q1 2025 Solid market conditions for Region North America Normal conditions for Region Europe except for cartonboard and coated liner that will remain weak Pricing continues to offset input cost increase Temporarily lower sales volumes in Region Europe
Slide 17: INTERIM REPORT JANUARY-DECEMBER 2024
INTERIM REPORT JANUARY-DECEMBER 2024