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Nordic Paper (NPAPER) investor relations material
Nordic Paper Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Net sales for Q2 2025 were SEK 1,148 million, down 6% year-over-year; EBITDA margin was 19.8%, with EBITDA at SEK 228 million, down 19% from last year.
Sales prices increased 3% in local currency year-over-year, partially offsetting lower volumes and negative currency effects.
Sales volumes declined 5–6% year-over-year, reflecting weaker demand and normal seasonality.
Market demand softened due to global economic downturn, customer order delays, and tariff concerns.
Extraordinary dividend of SEK 12 per share (SEK 803 million total) approved for payout in July 2025.
Financial highlights
Net sales: SEK 1,148 million, down 6% year-over-year; excluding currency effects, down 1%.
EBITDA: SEK 228 million, margin 19.8% (down from 22.9% last year).
Cash flow from operating activities was SEK 179 million, up from SEK 175 million last year.
Net debt/EBITDA ratio at 1.7 at end of Q2 2025, up from 1.5 last year.
Working capital rose to SEK 682 million, 12.9% of net sales.
Outlook and guidance
Demand expected to remain weak in Q3, with continued price pressure in both segments.
Input material prices (pulp and pulpwood) anticipated to decrease in Q3, providing some cost relief.
Annual maintenance stops scheduled for all plants in Q3, with direct costs guided at SEK 125–145 million.
Ongoing Bäckhammar investments expected to yield SEK 100 million annual EBITDA gain from 2026.
SEK 450 million investment approved for water handling, to be executed 2025–2027.
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