Interim report January-June 2008

2008-07-24 09:00

Submitted for publication at 9 a.m. on 24 July 2008

Quarter January-June
2008 2008 2007
II I II 2008 2007

Net 1 949 2 096 1 884 4 045 3 816
turnover,
MSEK

Operating 114 214 17 328 194
profit,
MSEK

Operating 6 10 1 8 5
margin, %

Profit/loss 77 180 -9 257 142
after
financial
items ,
MSEK

Net profit/ 57 130 -9 187 98
loss, MSEK

Earnings 1.11 2.52 -0.17 3.63 1.91
per share,
SEK

January-June 2008 compared with January-June 2007

· Net turnover was MSEK 4,045 (3,816).
· Net profit was MSEK 187 (98).
· Earnings per share were SEK 3.63 (1.91).
· Operating profit climbed by 69% to MSEK 328 (194).
· The market situation and demand weakened on most of Billerud’s markets towards the end of the period.
· Supplies of wood were good. So far this year wood costs have remained at the same high level established in the second half of 2007.
· The operating margin was 8% (5).

April-June 2008 compared with January-March 2008

· Demand weakened on most of Billerud’s markets due to a generally weaker business cycle and inventory adjustments in the customer chain. Production in the second quarter was reduced slightly to compensate for weaker demand. Prices in local currency are mainly unchanged.
· Cost reductions of MSEK 29 per year were achieved during the quarter within the framework to reduce costs per year by MSEK 150 up to the end of 2009, as announced in the first quarter of 2008.

Outlook for 2008
· The general business cycle has weakened on Billerud’s markets.
· The tendency is for the cost of most input materials to continue rising.
· To maintain profitability at the current level, price increases and/or improvements in the product mix will be necessary, along with continued focus on cost savings.

For further information in connection with this report, please contact: Per Lindberg, President and CEO,

+46 8 553 335 01 or +46 70 248 15 17 and Bertil Carlsén, CFO, +46 8 553 335 07 or +46 730 211 092

Billerud’s President Per Lindberg and CFO Bertil Carlsén will present the interim report at a webcasted press conference for analysts and journalists today, 24 July, at 12.30.
Location: Spårvagnshallarna, Birger Jarlsgatan 57 A, Stockholm.

The full report
Last updated: 2012-06-01