Interim Report 1 January 30 June 2011 Interim Report Q2 2011 - - PowerPoint PPT Presentation

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Interim Report 1 January 30 June 2011 Interim Report Q2 2011 - - PowerPoint PPT Presentation

Dec 16, 2023 154 likes •308 views

Interim Report 1 January 30 June 2011 Interim Report Q2 2011 Increased raw material prices NBSK pulp Recovered paper - Europe USD/Metric tonne 1075 USD/metric ton 190 EUR / ton 1050 1025 1000 975 170 950 925 900 150 875 850

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SLIDE 1

Interim Report

1 January – 30 June 2011

Interim Report Q2 2011

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SLIDE 2 50 100 150 200 250 300 350 400 450
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USD/short ton High grade deinking

30 50 70 90 110 130 150 170 190

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OCC ONP/OMG

400 425 450 475 500 525 550 575 600 625 650 675 700 725 750 775 800 825 850 875 900 925 950 975 1000 1025 1050 1075
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NBSK PIX Value USD/Metric tonne 0,00 0,25 0,50 0,75 1,00 1,25 1,50 1,75 jan-03 jan-04 jan-05 jan-06 jan-07 jan-08 jan-09 jan-10 jan-11 Polyethylene (PE) Bags, backsheet, pack.film Propylene (Contract fd) Superabsorbent Oil (eur/kg) Polypropylene (PP homo) NW, Fibres

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Recovered paper - US

USD/short ton USD/metric ton EUR / ton

Recovered paper - Europe Oil based material NBSK pulp

Increased raw material prices

EUR / kg

Interim Report Q2 2011

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SLIDE 3

3

Summary – H1 2011 vs H1 2010

Interim Report Q2 2011

Sales increased 5%*

Hygiene business

  • Higher volumes
  • Good growth in emerging markets
  • Personal care, 9%**
  • Tissue, 9%**

Packaging and Forest Products

  • Packaging volumes increased 2%
  • Corrugated volumes decreased 2%
  • Corrugated prices increased 13%
  • Publication paper volumes decreased 1%
  • Solid-wood product volumes increased 16%

EBIT increased 1%***

  • Higher prices and volumes
  • Cost savings
  • Significantly higher raw material costs, SEK 2.1bn
  • Higher distribution costs
  • Negative currency impact, SEK 600m

Profit before tax decreased 1%*** Cash flow from current operations: SEK 1,840m

* Adjusted for exchange rate movements and divestments ** Adjusted for exchange rate movements *** Excluding restructuring costs and adjusted for exchange rate movements

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SLIDE 4

4

Summary - Q2 2011 vs Q2 2010

Interim Report Q2 2011

Sales increased 6%*

Hygiene business

  • Higher volumes
  • Good growth in emerging markets
  • Personal care, 11%*
  • Tissue, 9%*

Packaging and Forest Products

  • Packaging volumes flat
  • Corrugated volumes decreased 3%
  • Corrugated prices increased 12%
  • Publication paper volumes increased 4%
  • Solid-wood product volumes increased 19%

EBIT decreased 7%**

  • Higher prices and volumes
  • Cost savings
  • Significantly higher raw material costs, SEK 900m
  • Higher distribution costs
  • Negative currency impact, SEK 300m

Profit before tax decreased 10%** Cash flow from current operations: SEK 1,487m

* Adjusted for exchange rate movements ** Excluding restructuring costs and adjusted for exchange rate movements

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SLIDE 5

SEK millions H1 H1

Change, Change,

unless otherwise stated

2011 2010

% %** Net sales 52,064 53,266

  • 2

5*** EBIT* 4,262 4,467

  • 5

1 EBIT margin* (%) 8.2 8.4 Profit before tax* 3,683 3,944

  • 7
  • 1

Earnings per share (SEK) 3.85 3.57 8 13 Cash flow from current operations 1,840 2,816 Debt/Equity ratio 0.55 0.62

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H1 2011 results

Interim Report Q2 2011 * Adjusted for restructuring costs in 2010 ** Adjusted for exchange rate movements *** Adjusted for exchange rate movements and divestments

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SLIDE 6

6

Q2 2011 results

Interim Report Q2 2011 * Adjusted for restructuring costs in 2010 ** Adjusted for exchange rate movements

SEK millions Q2 Q2

Change, Change,

unless otherwise stated

2011 2010

% %** Net sales 26,671 27,067

  • 1

6 EBIT* 2,150 2,440

  • 12
  • 7

EBIT margin* (%) 8.1 9.0 Profit before tax* 1,873 2,196

  • 15
  • 10

Earnings per share (SEK) 1.96 2.04

  • 4

+1 Cash flow from current operations 1,487 1,668

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SLIDE 7

7

Q2 2011 vs. Q1 2011

Summary

Interim Report Q2 2011

Group

  • Sales increased 5%
  • Higher volumes and prices
  • EBIT increased 2%
  • Higher volumes and prices
  • Higher raw material costs
  • Profit before tax increased 3%

Business areas

  • Personal Care, EBIT flat
  • Higher volumes
  • Higher raw material costs
  • Tissue, EBIT increased 7%
  • Higher volumes
  • Packaging, EBIT decreased 3%
  • Higher prices
  • Higher volumes
  • Higher raw material costs
  • Forest Products, EBIT increased 7%
  • Lower raw material costs
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SLIDE 8

8

Personal Care

Q2 2011 vs Q2 2010

Interim Report Q2 2011

  • 5%

EBIT margin 11.7%** 9.5%

  • 23%**

SALES SEKm EBIT SEKm

6,418 6,116 753** 582 Q2 2011 Q2 2010 Q2 2011 Q2 2010 * Excluding exchange rate effects ** Excluding restructuring costs *** Excluding restructuring costs and exchange rate effects

Sales decreased by 5% (+4%*)

Incontinence care increased 2%* Baby diapers increased 8%* Feminine care increased 1%* Emerging markets 11%*

  • Incontinence care 5%*
  • Baby diapers 20%*
  • Feminine care 2%*

EBIT decreased by 23%** (-18%***)

Higher volumes Cost savings Significantly higher raw material costs

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SLIDE 9

9 Interim Report Q2 2011

Tissue

Q2 2011 vs Q2 2010

  • 5%

EBIT margin 7.9% 7.0%

  • 16%

10,064 9,609 791 668

EBIT SEKm

Q2 2011 Q2 2010 Q2 2011 Q2 2010 * Excluding exchange rate effects

Sales decreased by 5% (+4%*)

Consumer tissue increased 4%* AFH tissue increased 6%*

Emerging markets 9%*

  • Consumer tissue 8%*
  • AFH tissue 11%*

EBIT decreased by 16% (-8%*)

Higher prices Changed product mix Higher volumes Higher raw material, energy and distribution costs

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SLIDE 10

10

Packaging

Q2 2011 vs Q2 2010

Interim Report Q2 2011

1%

EBIT margin 4.5% 6.8%

6,770 6,856 306 467

SALES SEKm EBIT SEKm

* Excluding exchange rate effects and divestments ** Excluding exchange rate effects Q2 2011 Q2 2010 Q2 2011 Q2 2010

Sales increased by 1% (+11%*)

Higher prices Lower volumes due to divestments

EBIT increased 53% (62%**)

Higher prices and volumes Cost savings Higher raw material costs, SEK 500m Negative currency impact

53%

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SLIDE 11

11

Forest Products

Q2 2011 vs Q2 2010

Interim Report Q2 2011

6%

EBIT margin 16.0% 11.7%

  • 23%

4,308 4,566 691 532

SALES SEKm EBIT SEKm

Q2 2011 Q2 2010 Q2 2011 Q2 2010 * Excluding exchange rate effects

Sales increased by 6%(8%*)

Higher prices for publication papers and pulp Higher volumes

EBIT decreased by 23%

Higher raw material and energy costs Negative currency impact

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SLIDE 12

12

Outlook 2011

Interim Report Q2 2011

Good demand for all businesses Good growth in Emerging markets for Hygiene businesses Continued high raw material costs Increasing corrugated prices Price increases for Personal Care, Tissue and publication papers during H2

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SLIDE 13

Interim Report Q2 2011 13

Q & A

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SLIDE 14

14 Interim Report Q2 2011