Rottneros (RROS) Q1 2026 earnings summary

Executive summary

• Q1 2026 EBITDA was SEK -36 million, down from SEK -27 million in Q1 2025, impacted by lower pulp prices, a weaker U.S. dollar, and a stronger SEK, partially offset by lower wood and fixed costs.

• Net turnover declined 5% year-over-year to 622 MSEK, mainly due to lower sales prices and currency effects, despite a 9% increase in sales volumes.

• Net income was -65 MSEK, compared to -56 MSEK in Q1 2025; EPS was -0.24 SEK.

• Production volumes were 5% below last year due to a cold winter, resulting in lost tonnage at Vallvik Mill.

• The company remains focused on efficiency improvements, cost reductions, and maintaining high production availability.

Financial highlights

• EBITDA for Q1 2026 was SEK -36 million, compared to SEK -27 million in Q1 2025.

• Net turnover: 622 MSEK (down 5% year-over-year).

• EBIT: -74 MSEK (Q1 2025: -62 MSEK); Net income: -65 MSEK (Q1 2025: -56 MSEK).

• Equity/assets ratio: 62% (Q1 2025: 56%); available liquidity: 214 MSEK; net debt: 389 MSEK (down from 558 MSEK in Q1 2025).

• SEK 51 million negative impact from price and currency, with currency being a major factor.

Outlook and guidance

• Management expects continued improvements from lower wood prices in Q2 and beyond.

• Investments for 2026 are expected to remain low at around SEK 60 million, focused on operational efficiency.

• Ongoing focus on operational efficiency, cost control, and cash flow.

• No dividend proposed for 2025.