Q1 2026 Billerud AB (publ) Earnings Call Transcript
Key Points
- Billerud AB (BLRDF) recorded a strong quarter in North America with a 16% EBITDA margin, despite challenging weather conditions.
- The company achieved a 9% increase in shipment volume compared to Q4, with growth in both North America and Europe.
- Billerud AB (BLRDF) is ahead of its cost-saving program, achieving SEK100 million in savings in Q1 and raising its 2026 target to SEK550 million.
- The company managed a cash conversion of 55% for the quarter, with a focus on achieving 80%-plus cash conversion for the year.
- Billerud AB (BLRDF) announced price increases in both North America and Europe to mitigate cost inflation, with expected positive impacts in Q2 and Q3.
- Region Europe faced incremental price pressure, currency headwinds, and loss of emission rights, leading to lower-than-expected profitability.
- The profit for the group declined significantly compared to last year, primarily driven by challenges in Europe.
- Billerud AB (BLRDF) experienced higher input costs due to extreme weather conditions in North America, impacting energy and logistics costs.
- The company faces ongoing challenges with cost inflation in chemicals and logistics due to the Middle East conflict.
- There is persistent overcapacity in the European market, leading to squeezed margins and the need for potential industry consolidation.
Good day, and thank you for standing by. Welcome to the Billerud Q1 report 2026 webcast and conference call. (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to have the conference of your first speaker today, Lena Schattauer, Head of Investor Relations. Please go ahead.
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Good morning, and welcome to this presentation following the publication of our interim report for the first quarter 2026. Billerud's President and CEO, Ivar Vatne, and our CFO, Andrei Kres, will present. And after that, we will open up for questions. By that, I would like to hand over to Ivar.
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Thank you, Lena, and good morning, everyone. And thank you all for listening in to our comments this Tuesday morning. It's been another quarter with twists and turns, and yet again, some
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