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Regulatory
Press release
17 Jul 2003, 14:22 CET

Interim report January-June 2003

Interim reportJanuary-June 2003 Quarter January-June 2003 2003 2002 II I II 2003 2002 Net turnover, MSEK 1 731 1 844 1 772 3 575 3 528 Operating profit, MSEK 284 297 251 581 519 Operating margin, % 16 16 14 16 15 Profit after financial items, MSEK 266 276 228 542 475 Earnings per share, SEK 3.30 3.45 2.64 6.75 5.46 ·Demand deteriorated gradually during the second quarter. ·The operating profit for the January to June period was MSEK 581, up 12% on last year. The increase was mainly due to higher prices. ·Compared with the first quarter, earnings fell during the second quarter by 4% to MSEK 284. The decline was mainly due to lower delivery volumes. ·The profit after financial items was MSEK 542 and the return on capital employed over the most recent 12-month period was 27%. Excluding the effects of currency hedging, the return was 17%. ·Operating cash flow was MSEK 311. ·Deliveries amounted to 639,000 tonnes, down 4% on last year. Planned maintenance stoppages were carried out at Skärblacka and Karlsborg. ·The Board has decided to continue buying back Billerud shares. ·Based on the current demand, Billerud's assessment is that operating profit for the full year 2003 will be approximately 10-15% lower than in 2002. If you have any questions concerning this report, please contact Bert Östlund, President & CEO, +46 8 553 335 00 or +46 70 518 2757 or Nils Lindholm, CFO, +46 8 553 335 00 or +46 70 217 5225 E-mail: info@billerud.com Future financial statements Third quarter 2003 21 October 2003 Financial statement 2003 27 January 2004 The next Annual General Meeting will be held on 5 May 2004. Billerud AB (publ) Box 703, SE-169 27 Solna Corporate Identity Number 556025-5001 Tel +46 8 553 335 00 Fax +46 8 553 335 80 E-mail: info@billerud.com Internet website: http://www.billerud.com Billerud manufactures and markets packaging paper in the form of kraft paper and containerboard, and market pulp. Production is carried out at the Group's integrated pulp and paper mills in Gruvön, Karlsborg and Skärblacka. Billerud has a world-leading position within several well-defined product segments. The main customer base is in Europe but also includes the rest of the world. Billerud has annual sales of approximately SEK 7 billion and around 2,400 employees. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/07/17/20030717BIT00340/wkr0001.doc The full report http://www.waymaker.net/bitonline/2003/07/17/20030717BIT00340/wkr0002.pdf The full report