Rottneros (RROS) Q1 2026 earnings summary

Executive summary

• Q1 2026 EBITDA was SEK -36 million, reflecting a challenging market with lower prices, a weaker U.S. dollar, and a stronger SEK, partially offset by declining wood and fixed costs.

• Net turnover for Q1 2026 declined 5% year-over-year to 622 MSEK, mainly due to lower sales prices and currency effects, despite a 9% increase in sales volumes.

• Net income was -65 MSEK, compared to -56 MSEK in Q1 2025; EPS was -0.24 SEK.

• Production volumes were 5% below last year due to a cold winter, resulting in lost tonnage at Vallvik Mill.

• The company remains focused on efficiency improvements, cost reductions, and maintaining high production availability.

Financial highlights

• EBITDA for Q1 2026 was SEK -36 million, compared to SEK -27 million in Q1 2025, with SEK 51 million negative impact from price and currency.

• Net turnover: 622 MSEK (down 5% year-over-year); EBIT: -74 MSEK (Q1 2025: -62 MSEK); Net income: -65 MSEK.

• Fixed costs improved by SEK 26 million year-over-year; wood costs now represent 44% of the cost base.

• No emission rights were sold in Q1 2026, unlike SEK 10 million in Q1 2025.

• Available liquidity was 214 MSEK; net debt at quarter-end was 389 MSEK, down from 558 MSEK in Q1 2025.

Outlook and guidance

• Management expects continued improvements from lower wood prices in Q2 and beyond, with investments for 2026 expected to remain low at around SEK 60 million.

• Ongoing focus on operational efficiency, cost control, and working capital improvements.

• Market is expected to remain flat, with continued uncertainty in wood prices and geopolitical risks.

• No dividend proposed for 2025.