BillerudKorsnäs AB (publ) (BILL) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Please be advised, today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Lena Schatauer, Head of IR. Please go ahead. Good morning and welcome to Billiards Q3 2025 earnings call. As usual, our President and CEO, Eva Vatne, and our CFO, André Kreet, will give you an overview of the results and the highlights in the third quarter. The presentation will be followed by a Q&A session. So with that, I hand over to Ivar to begin. Thank you, Lena, and good morning, everyone. And thanks for listening in this early Thursday morning. Yet again, it's a tale of two stories for a quarterly report summarized quite well in the heading here on the slide. It's been a quarter that landed quite close to our expectations with another strong quarter for our region, North America, while weak market conditions are weighing down on region Europe. Let's get into the details. So next slide, please. And if we start from the top, net sales is down 8% versus a year ago, where half of that decline is currency related. and most of the remaining decline is due to lower sales volume in Europe. Our region, North America, continued this impressive trend and record another strong quarter. Currency neutral, net sales growth of 4%, and despite some maintenance costs during the quarter, the region delivered strong profitability, coming in at 16% EBITDA. And for total billage, EBITDA landed at 11%, which is down versus a year ago, fed up sequentially by two percentage points. We maintain our working capital discipline also for Q3 and record a very strong cash conversion and cash delivery. And so far in 2025, we're way ahead in terms of cash generation versus same period last year. Last but not least, we did announce mid-September a new cost-saving pr...