Q2 2025 Billerud AB (publ) Earnings Call Transcript
Key Points
- Region North America recorded an impressive 22% EBITDA margin, the highest since the end of 2022.
- Billerud AB (BLRDF) achieved a significant milestone in North America with 1,000 tons of new packaging materials, showing strong customer interest.
- The company reported excellent cash generation, with cash flow from activities growing by 75% compared to the previous year.
- Billerud AB (BLRDF) maintained strong cost discipline, limiting cost inflation despite significant pressures.
- The company achieved a cash conversion rate of 131% for the second quarter, supporting a strong balance sheet.
- Region Europe faced challenging market conditions with weak demand and supply overcapacity, leading to a decline in sales.
- Sales declined by 5% due to FX headwinds, with the strengthening of the Swedish krona impacting results.
- The company experienced a negative year-over-year effect from inventory revaluation, impacting financial results.
- Market conditions in Europe are expected to remain weak, with no improvement anticipated going into Q3.
- The company faces pricing pressure in Europe, particularly within Containerboard and Cartonboard, due to weaker market conditions.
Good morning and very welcome to this presentation in connection to the Q2 report that we have published this morning.
With me is our President and CEO Ivar Vatne; along with our CFO Andrei Kres. They would hold the presentation and afterwards take questions from the telephone conference.
So, with that, we will get started. Please go ahead, Ivar.
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Thank you, Lena, and good morning, everyone and thanks for listening in this sunny Friday, at least here in Stockholm.
It's a tale of two stories for a quarterly report and I think it summarized quite well in the heading here on the slide. Another excellent quarter for Region North America, while we are navigating through more challenging conditions for region Europe.
But let's get into the details. So next slide, please.
And if you start from the top, we record flat net sales growth when adjusting for currency. Growth in North America and
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