Q3 2024 Billerud AB (publ) Earnings Call Transcript
Key Points
- Billerud AB (BLRDF) reported a strong net sales growth of 6% with a 9% organic and currency-neutral increase.
- The company achieved significantly improved profitability, with Europe recording its best profitability in over two years.
- North America delivered another excellent quarter with an 18% EBITDA margin, continuing a trend of strong results.
- The efficiency enhancement program contributed an additional 220 million SEK, positioning the company well towards its full-year target.
- Billerud AB (BLRDF) successfully transferred a US pension obligation, resulting in a positive impact of approximately $25 million to be recorded in Q4.
- The company anticipates a worsening market situation going into Q4, with underlying consumption below long-term trends.
- Cartonboard faced a disappointing quarter with overcapacity and weak demand, particularly in European markets.
- The company expects additional cost headwinds in Q4, including higher pulp and electricity costs.
- Billerud AB (BLRDF) experienced a working capital build-up, impacting cash flow performance in Q3.
- The company faces challenges in balancing higher input costs with moderating demand, particularly in Europe.
Good morning and welcome to this webcasted conference call we have today published bills results for the third quarter of 2024.
Our President and CEO Ivar Vatne and our CFO Andrei Kres will present the results and answer questions.
So without further delay, I would like to hand over to the speakers. And first out is silver, please go ahead.
Thank you Lena and Good morning, everyone and, and thanks for joining in this beautiful Thursday morning to be excited to present another solid quarter for B route.
It's been accorded with few surprises and in general, we are pleased with the result we see on, on several fronts.
So let's get into it then next slide, please.
And in essence, we've seen strong net sales growth and a profit recovery trend throughout 2024 is continuing the record plus 6% net sales growth plus 9% organic and currency neutral.
And our top line growth is coming from both regions and across most of our categories.
We
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