Nordic Paper Holding AB: Nordic Paper Interim Report January-March 2025

QUARTERLY RESULTS JANUARY - MARCH

• Net sales amounted to SEK 1,277 m (1,209 m), an increase of 6% compared with the same quarter the previous year. Excluding currency effects, net sales increased by 5%.
• EBITDA amounted to SEK 231 m (231 m), representing an EBITDA margin of 18.1% (19.1%).
• Operating profit amounted to SEK 190 m (194 m), representing an operating margin of 14.9% (16.0%).
• Profit for the period amounted to SEK 167 m (149 m) and earnings per share to SEK 2.49 (2.23).
• Cash flow from operating activities was SEK 90 m (-87 m).
• Return on operating capital, 12 months, was 26.4% (27.4%).
• The net debt/EBITDA ratio, 12 months, was 1.6 (1.3).
• The sales volume amounted to 76.8 (79.8) ktonnes.
• On 9 January 2025, Strategic Value Partners, LLC, through Coniferous Bidco AB, announced the closing of the public cash offer.
• At the request of Strategic Value Partners, LLC, through Coniferous Bidco AB, an extraordinary general meeting was held on 13 January 2025. Resolutions at the meeting included the election of Tim Stubbs, Russell Wanke, Omar Hoek, Christer Simrén, Alexandre Mignotte, Ricardo Mateiro and Riccardo Franchi as new members of the board of directors with Tim Stubbs as chairman. It was also resolved to abolish the nomination committee of the company.
• Nordic Paper has entered into new financing agreements which are further described in the report under the headline Financing. The financing runs into 2026 and the company is currently reviewing options for its long term financing.
• The Board of Directors has decided to remove the dividend policy of the company.
• The Board of Directors of Nordic Paper proposes no dividend to the Annual General Meeting to be held on 28 May 2025 but considers opportunity for a potential extraordinary dividend later on in 2025 once a long-term financing is in place.

EVENTS AFTER THE END OF THE QUARTER

• Nordic Paper has approved up to SEK 450 m environmental investments for Bäckhammar. The investments relate to the water handling of the mill and include, among other things, the installation of a pipeline for purified effluent water from the plant to lake Vänern. The investments unlock a potential to increase production volume above the level permitted today.

KEY FIGURES

SEK m	2025 Q1	2024 Q1	Δ, %	R12	2024 Full year
Net sales	1,277	1,209	6	4,736	4,668
EBITDA	231	231	0	806	806
EBITDA margin, %	18.1	19.1		17.0	17.3
Operating profit	190	194	-2	650	654
Operating margin, %	14.9	16.0		13.7	14.0
Net profit for the period	167	149	12	483	465
Earnings per share, SEK1	2.49	2.23		7.22	6.96
Cash flow from operating activities	90	-87		514	333
Return on operating capital, 12 m, %	26.4	27.4		26.4	28.1
Net debt/EBITDA, 12 m, ratio	1.6	1.3		1.6	1.5
Sales volume, ktonnes	76.8	79.8	-4	284.4	287.4

¹ Before and after dilution

For further information, please contact

Niclas Eriksson, CFO
Tel: [phone]
E-mail: [e-mail]

Henrik Essén, Director of Sustainability and Communication
Tel: [phone]
E-mail: [e-mail]

This is information that Nordic Paper Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 7.30am CEST on 29 April 2025.

Nordic Paper is a leading specialty paper producer with its base in Scandinavia. We have been manufacturing top-quality kraft papers and natural greaseproof papers since the 19th century. Our products are based on renewable raw material from local forests. From our five paper mills, four in Scandinavia and one in Canada, we supply customers in more than 80 countries. Nordic Paper had in 2024 net sales of SEK 4,668m, about 700 employees and is listed on Nasdaq Stockholm. www.nordic-paper.com