Nordic Paper Holding AB: Nordic Paper year-end report January-December 2024

QUARTERLY RESULTS OCTOBER - DeCEMBER

• Net sales amounted to SEK 1,134 m (971 m), an increase of 17% compared with the same quarter the previous year. Excluding currency effects, net sales increased by 16%.
• EBITDA amounted to SEK 189 m (170 m), representing an EBITDA margin of 16.7% (17.5%).
• Operating profit amounted to SEK 150 m (132 m), representing an operating margin of 13.3% (13.6%).
• Profit for the period amounted to SEK 114 m (65 m) and earnings per share to SEK 1.70 (0.96).
• Cash flow from operating activities was SEK 50 m (198 m).
• Return on operating capital, 12 months, was 28.1% (30.0%).
• The net debt/EBITDA ratio, 12 months, was 1.5 (1.0).
• The sales volume amounted to 63.5 (62.8) ktonnes.
• On 11 October 2024, Strategic Value Partners, LLC, through Coniferous Bidco AB, announced a public cash offer for all shares in Nordic Paper Holding AB. On 13 December 2024, the offer was declared unconditional and at the first settlement date for the offer acceptance period, Coniferous Bidco controlled 75.88% of the shares in Nordic Paper Holding AB. As per the first settlement date, change-of-control provisions in the debt agreements of the company were triggered. The public cash offer was extended until 8 January 2025.

EVENTS AFTER THE END OF THE QUARTER

• On 9 January 2025, Strategic Value Partners, LLC, through Coniferous Bidco AB, announced the closing of the public cash offer and that the final outcome of the offer was that owners of 85.67% of the shares and votes in Nordic Paper had accepted the 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 is further described in the report under the headline Financing.
• The Board of Directors has decided to remove the dividend policy of the company.
• The Board of Directors has not yet made its decision for proposal for dividend for the financial year 2024 to the Annual General Meeting. Such decision will be communicated as soon as it has been made.

KEY FIGURES

SEK m	2024 Q4	2023 Q4	Δ, %	2024Full year	2023 Full year	Δ, %
Net sales	1,134	971	17	4,668	4,472	4
EBITDA	189	170	12	806	775	4
EBITDA margin, %	16.7	17.5		17.3	17.3
Operating profit	150	132	14	654	623	5
Operating margin, %	13.3	13.6		14.0	13.9
Net profit for the period	114	65	76	465	416	12
Earnings per share, SEK1	1.70	0.96		6.96	6.22
Cash flow from operating activities	50	198	-75	333	765	-56
Return on operating capital, 12 m, %	28.1	30.0
Net debt/EBITDA, 12 m, ratio	1.5	1.0
Sales volume, ktonnes	63.5	62.8	1	287.4	273.3	5

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 CET on 30 January 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 85 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