Svenska Cellulosa Aktiebolaget (SCA): Interim Report Q1 2013
1 JANUARY–31 MARCH 2013 (compared with same period a year ago)
Net sales rose 15% (20% excluding exchange rate effects and divestments) to SEK 22,386m (19,490)
Operating profit excluding items affecting comparability rose 20% (25% excluding exchange rate effects) to SEK 2,205m (1,834)
Profit before tax, excluding items affecting comparability, rose 29% (34% excluding exchange rate effects) to SEK 1,941m (1,503)
Items affecting comparability amounted to SEK -418m (-150)
Earnings per share were SEK 1.59 (1.73)
Cash flow from current operations was SEK 1,341m (1,301)
(Table included in attached pdf)
CEO'S COMMENTS The hygiene operations are showing favorable sales growth and improved earnings. The lower earnings for Forest Products are mainly attributable to negative exchange rate effects and lower prices for publication papers.
The efficiency programs in the hygiene and forest products operations are continuing according to plan.
Consolidated net sales for the first quarter of 2013, excluding exchange rate effects and divestments, rose 20% compared with the same period a year ago. The increase is mainly attributable to acquisitions and higher volumes.
Operating profit excluding exchange rate effects and items affecting comparability rose 25%. The corresponding profit for Personal Care and Tissue rose 27% and 40%, respectively, while profit for Forest Products decreased by 22%. Forest Products includes positive earning effects of SEK 121m attributable to land swaps and negative exchange rate effects of approximately SEK 110m. Profit before tax, excluding exchange rate effects and items affecting comparability, rose 34%.
The Group's operating cash flow improved by 5%, to approximately SEK 1.9bn.
In connection with SCA's acquisition of Georgia-Pacific's European tissue operation in 2012, the European Commission set conditions for certain divestments of consumer tissue businesses. The European Commission has now approved all of SCA's divestments. The businesses in question represent total sales of approximately EUR 200m, and the combined purchase consideration for the divestments is approximately EUR 100m.
The divestment of the Austrian publication paper mill in Laakirchen has been completed.
NB SCA discloses the information provided herein pursuant to the Securities Markets Act. This report has been prepared in both Swedish and English versions. In case of variations in the content between the two versions, the Swedish version shall govern. This interim report has not been reviewed by the company's auditors. Submitted for publication on April 29, 2013, at 08:00 CET.
This information was brought to you by Cision http://news.cision.com
For further information, please contact:
Johan Karlsson, Vice President Investor Relations,
Corporate Communications, +46 8 788 51 30
Boo Ehlin, Vice President Media Relations,
Corporate Communications, +46 8 788 51 36
Joséphine Edwall-Björklund, Senior Vice President,
Corporate Communications, +46 8 788 52 34