Holmen AB: year-end report 2023

		Quarter		Full year
SEKm	4-23	3-23	4-22	2023	2022
Net sales	5 400	5 418	6 245	22 795	23 952
EBITDA*	1 059	1 505	1 965	6 114	8 607
Operating profit excl. item affecting comparability	714	1 166	1 622	4 755	7 262
Operating profit	714	1 166	1 622	4 755	7 527
Profit after tax	538	898	1 268	3 697	5 874
Earnings per share, SEK	3.4	5.6	7.8	23.0	36.3
Operating margin, %*	13	22	26	21	30
Book value, forest assets, SEKm	56 348	52 638	52 151	56 348	52 151
Cash flow before investments and change in working capital	551	1 172	985	5 311	6 768
Net financial debt	1 869	2 616	2 145	1 869	2 145
Debt/equity ratio, %	3	5	4	3	4

*Excl. the item affecting comparability 2022; see page 14.

• Operating profit for 2023 amounted to SEK 4 755 million (2022: 7 527). Excluding the item affecting comparability last year, operating profit decreased by SEK 2 507 million, mainly due to weaker market conditions for wood products and paperboard.
• Compared with the third quarter, operating profit for the fourth quarter decreased by SEK 452 million to SEK 714 million. Earnings were negatively affected by a major maintenance shutdown (SEK -180 million), slightly lower prices for paper and wood products and seasonally higher fixed costs.
• Profit after tax in 2023 amounted to SEK 3 697 million (5 874), which corresponds to earnings per share of SEK 23.0 (36.3).
• The book value of the Group's forest assets, calculated based on market prices for forest properties, increased by 8 per cent during the annual revaluation, from SEK 52 151 million at the beginning of the year to SEK 56 348 million.
• The Board of Directors proposes that the ordinary dividend increases from SEK 8 to SEK 8.5 per share and a payment of an extra dividend of SEK 3 per share.

For further information please contact:
Henrik Sjölund, President and CEO, tel. [phone]
Anders Jernhall, Executive Vice President and CFO, tel. [phone]
Stina Sandell, Senior Vice President Sustainability and Communications, tel. [phone]

This is information that Holmen AB 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 07.30 CET on Wednesday, 31 January 2024.