Billerud has reported on its performance in Q2 2023.
Net sales decreased by 13% to SEK 9,953m (11,408). Adjusted EBITDA was SEK 188m (2,267). Operating loss was SEK -496m (1,609).
The company cited low volumes due to continued customer inventory destocking and soft end market demand. They also noted they achieved stable sales prices in North America, but there was price deterioration in Europe in some categories from the record 2022 levels. Lower input costs did not offset price deterioration.
“While this quarter has been particularly difficult, I remain confident that our long-term strategy will deliver significant future upside for Billerud,” says Christoph Michalski, CEO.