Billerud (BILL) Carnegie Nordic Forest Seminar Presentation summary

Market position and operations

• Leading provider of high-performance paper and packaging materials, serving over 100 countries across six continents.

• Operates in approximately 20% of the global paper and board market, focusing on primary fiber products.

• Holds top market positions in Europe and North America for various paper and packaging segments.

Financial performance and goals

• Net sales of SEK 43.6 billion and adjusted EBITDA of SEK 5.3 billion for the rolling 12 months Q3'24–Q2'25.

• Financial targets include EBITDA margin above 11%, ROCE above 15%, cash conversion over 80%, and net debt/EBITDA below 2.5.

• Dividend policy targets payout of over 50% of net profit.

Regional highlights

• North America: SEK 12.4 billion net sales, 20% EBITDA margin, focus on graphic and label paper, evolving towards packaging materials.

• Europe: SEK 28.0 billion net sales, 12% EBITDA margin, leading in premium packaging from fresh fibers, six integrated mills.

• Evolution program in North America surpassing expectations, with strong product trials and commercial interest.