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Regulatory
Press release
22 Apr 2004, 13:26 CET

Interim Report January-March 2004

This document is a translation of the original, published in Swedish. In cases of any discrepancies between the Swedish and English versions, or in any other context, the Swedish original shall have precedence. INTERIM REPORT January-March 2004 Corporate Identity No. 556025-5001 www.billerud.com Quarter Full year 2004 2003 2003 2003 I IV I Net turnover, MSEK 1 820 1 689 1 844 6 992 Operating profit, MSEK 225 255 297 1 118 Operating margin, % 12 15 16 16 Profit after financial items,MSEK 205 238 276 1 042 Net profit, MSEK 147 172 200 748 Earnings per share, SEK 2.73 3.10 3.45 13.13 · Market demand for Billerud's products during the first quarter of 2004 improved, but average prices for packaging paper were lower than in the final quarter of 2003. · The operating profit was MSEK 225, down 24% on the first quarter of 2003 and down 12 % compared with the final quarter of 2003. In both cases, the deviation is due to lower average prices for packaging paper and less favourable exchange rates. · The profit after financial items was MSEK 205 and the return on capital employed over the past 12 months was 23%. Excluding the effects of currency hedging the return was 12%. · The operating cash flow was MSEK 248. · Deliveries amounted to 357,000 tonnes, up 9% on the final quarter of 2003. New production record was set. · The UK packaging paper company, Henry Cooke Ltd, was acquired during the quarter. The name has been changed to Billerud Beetham Ltd and the company was consolidated in the Billerud Group as of March 2004. · The forecast from January 2004 is unchanged, which means that increased deliveries and expected price changes will not fully compensate for the negative effect of changes in currency rates during 2004. Billerud's CEO Bert Östlund will present the Financial Statement live at a press conference today at 15.00 pm CET. Location: Spårvagnshallarna, Birger Jarlsgatan 57 A, Stockholm. Billerud AB (publ) Box 703, SE-169 27 Solna, Sweden Corporate Identity Number 556025-5001 Tel +46 8 553 335 00 Fax +46 8 553 335 80 E-mail: ir@billerud.com Internet website: http://www.billerud.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/04/22/20040422BIT00590/wkr0001.doc The full report http://www.waymaker.net/bitonline/2004/04/22/20040422BIT00590/wkr0002.pdf The full report