Billerud's annual results significantly lower
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Ivar Vatne, CEO and President of packaging paper and board manufacturer Billerurd, describes the past 2023 financial year as extremely difficult.
At the beginning, the company had to deal with unusually high stock levels across the entire value chain, and patience was required until the destocking process was complete. Sales volumes were somewhat weaker into the fourth quarter, but the good news is that there are now clear signs in early 2024 that customer inventories have returned to more normal levels.
Billerud's annual results fell significantly compared to the previous year and were negative for EBITDA and operating profit in the final quarter. The lower result was due to higher raw material costs and lower net sales, which were only partially offset by the positive impact of the efficiency improvement programme and the reduced negative impact of planned maintenance work, the company explained.
