Displaying items by tag: billerud

Billerud's financial calendar for 2011 will be as follows:

Year-end report 2010  15 February 2011
Interim report             January-March 2011            20 April 2011
Interim report             January-June 2011              21 July 2011
Interim report             January-September 2011     28 October 2011

The Annual General Meeting will be held on 4 May 2011.

For further information, please contact:
Bertil Carlsén, CFO, +46 8 55333507, +46 730211092 Sophie Arnius, Investor Relations Manager, +46 8 55333524, +46 705908072

The information is such that Billerud is obligated to publish under the Swedish Securities Market Act. Submitted for publication at 11.00 a.m. on 15 June 2010.

Decisions made at the meeting

Dividend
The meeting decided, in accordance with the Board's proposal, that SEK 0.50 per share should be distributed to the shareholders and that the record date for the dividend should be 7 May 2010. The dividend is estimated to be delivered from Euroclear Sweden AB on 12 May 2010.

Election of Board members and Chairman of the Board
The meeting decided to re-elect Ingvar Petersson, Gunilla Jönson, Michael M.F. Kaufmann, Per Lundberg, Ewald Nageler, Yngve Stade and Meg Tivéus as ordinary Board members and that no deputy members were to be elected. The meeting also decided to re-elect Ingvar Petersson as Chairman of the Board and Michael M.F. Kaufmann as Deputy Chairman of the Board.

Nominations Committee for 2011 Annual General Meeting
The meeting decided that the nominations committee shall comprise a maximum four members. The Chairman of the Board shall be the secretary of the Nominations Committee. During the autumn of 2010 the Chairman shall contact the major shareholders (judged by size of shareholding) regarding the formation of a Nominations Committee. The names of the members of the Nominations Committee, and the names of the shareholders they represent, shall be published six months at the latest before the 2011 Annual General Meeting and be based upon the known shareholding immediately before the announcement. Unless Committee members decide otherwise, the chairman of the Nominations Committee shall be the member representing the largest shareholder (judged by size of shareholding). The Committee forms a quorum when more than half of its members are present.

Transfer of shares due to the decision on Long Term Incentive Programme at the Annual General Meeting of 2007 ("LTIP 2007")
The meeting decided in order to fulfill its obligations under the LTIP 2007 on transfer of a maximum of 160,000 of the company's own shares to be transferred to participants in the LTIP 2007 in the form of so-called matching shares and performance shares and that the Board shall be entitled to transfer a maximum of 50,000 shares of the total own possession of shares in Billerud, in order to cover certain costs, mainly social security costs, relating to LTIP 2007. Transfer of the shares shall be affected on NASDAQ OMX Stockholm at a price within the price interval registered at each time for the share. The reasons for the deviation from the shareholders' preferential rights are that it is an advantage for Billerud to transfer shares in accordance with the proposal in order to meet the requirements of the approved incentive program.

The introduction of Long Term Incentive Programme 2010 and transfer of shares under the Long Term Incentive Programme ("LTIP 2010")
The meeting decided on the introduction of LTIP 2010 and of transfer of shares under LTIP 2010. LTIP 2010 comprises a total of maximum 90 managers and other key employees within the Billerud Group. To participate in LTIP 2010, the participants must purchase Billerud shares at market price on NASDAQ OMX Stockholm. Previously held Billerud shares may also be included in the required investment. Thereafter, the participants will, after a three year vesting period, free of charge, be alloted Billerud shares, provided that certain conditions are fulfilled, such as certain performance conditions relating to financial targets during the period 2010-2012.

Authorisation for the Board to decide on the transfer of the company's own shares
The Meeting decided to authorise the Board, during the period up to the next Annual General Meeting, on one or more occasions and with deviation from preferential rights for shareholders, to decide on transfer of Billerud own shares that the company holds at the time of the Board's decision, either to a third party as payment in connection with acquisition of companies, and/or as a transfer on the stock exchange in order to raise liquid funds for payment in connection with such acquisitions.

Other
Furthermore the meeting decided to adopt the income statement and the balance sheet as well as the consolidated income statement and consolidated balance sheet for 2009, on discharge from personal liability for Board Members and the CEO for their administration for the year 2009, on fees for Board Members and remuneration for Committee work and fees for the auditors, and to approve the Board's proposal for guidelines for remuneration to senior executives.

Billerud AB (publ)

Per Lindberg
President and CEO

For further information, please contact:
Per Lindberg, President and CEO, +46 8 553 335 01 or +46 70 248 15 17
Bertil Carlsén, CFO, +46 8 553 335 07 or +46 730 211 092

CEO Per Lindberg comments on the development during Q1 2010:

“With an operating profit of SEK 234 million for the first quarter of 2010 we now have two consecutive quarters behind us when we have achieved our target of an operating margin in excess of 10%. This, combined with continued stable demand, is a sign that the recovery is now standing on increasingly firm ground.

The favourable demand means that work to restore price levels is well set to continue. Since we are forced to adapt the pace of these price increases to our customers’ market situation, these increases are being implemented in stages as their business improves. In parallel the work of developing our products is also under way. We continuously see the result in terms of new customers, new applications and commercial successes. It is satisfactory to see what we have achieved in terms of new ideas and innovations, even though a lot remains to be done.

Billerud now stands strong both as a business and financially and we are looking forward with confidence to the continued recovery.”

Solna, 29 April 2010
Billerud AB (publ)

Per Lindberg
President and CEO

For further information please contact:
Per Lindberg, president and CEO, +46 8 553 335 01 or +46 70 248 15 17
Bertil Carlsén, CFO, +46 8 553 335 07 or +46 73 021 10 92

Billerud’s business concept is to offer demanding customers packaging materials and solutions that promote and protect their products – packaging that is attractive, strong and based on renewable materials. Billerud has a world-leading position within several product segments including paper for consumer packaging and industrial applications. Production takes place at three integrated pulp and paper mills in Sweden and at one paper mill in the UK.

January-March 2010 compared with the same period in 2009
• Net sales amounted to SEK 2 190 million (1 900).
• Profit for the period amounted to SEK 156 million (-39).
• Earnings per share amounted to SEK 1.52 (-0.53).
• Operating profit amounted to SEK 234 million (-37), which corresponded to a margin of 11% (-2).

January-March 2010 compared with October-December 2009
• Net sales amounted to SEK 2 190 million (2 060).
• Profit for the period amounted to SEK 156 million (160).
• Operating profit amounted to SEK 234 million (231), an improvement of SEK 3 million, mainly due to improved prices in local currency which were offset by higher variable costs.
• The strong order bookings continued in the first quarter.
• Continued strong cash flow.

Outlook for the full-year 2010
• The second quarter of 2010 started with continued good demand within all segments.
• Price increases have been implemented for all products and further price increases have been announced in order to gradually restore prices to sustainable levels in the long term.
• Strike action during the second quarter will have a negative effect on total deliveries for the full year.

Billerud’s CEO Per Lindberg and CFO Bertil Carlsén will present the interim report at a press conference on Thursday, 29 April at. 13.00 CET. Venue: Spårvagnshallarna, Birger Jarlsgatan 57 A, Stockholm.

Comments by Billerud’s CEO Per Lindberg:

Second consecutive quarter with an operating margin above 10%

“With an operating profit of SEK 234 million for the first quarter of 2010 we now have two consecutive quarters behind us when we have achieved our target of an operating margin in excess of 10%. This, combined with continued stable demand, is a sign that the recovery is now standing on increasingly firm ground.

The favourable demand means that work to restore price levels is well set to continue. Since we are forced to adapt the pace of these price increases to our customers’ market situation, these increases are being implemented in stages as their business improves. In parallel the work of developing our products is also under way. We continuously see the result in terms of new customers, new applications and commercial successes. It is satisfactory to see what we have achieved in terms of new ideas and innovations, even though a lot remains to be done.

“Billerud now stands strong both as a business and financially and we are looking forward with confidence to the continued recovery.”

For further information in connection with this report, please contact Per Lindberg, President and CEO, +46 8 553 335 00 or +46 70 248 15 17 and Bertil Carlsén, CFO, +46 8 553 335 00 or +46 730 211 092

This information is such that Billerud AB is required to disclose under the Securities Market Act.

Billerud is a packaging paper company. The business concept is to offer customers packaging material and solutions that promote and protect their products – packaging that is attractive, strong and made of renewable material. Billerud has a world-leading position within several product segments, both within paper for consumer packaging and for industrial applications. Production takes place at the Group’s three integrated pulp and paper mills in Sweden, and at a paper mill in the UK.
www.billerud.se

Billerud has changed reporting date for the Interim Report January-September, 2010. The new reporting date is 29 October, 2010.

For further information please contact:
Bertil Carlsén, CFO, +46 8 553 335 07, +46 73 021 10 92
Sophie Arnius, Investor Relations Manager, +46 8 553 335 24, +46 70 590 80 72

The information is such that Billerud is obligated to publish under the Swedish Securities Market Act. Submitted for publication at 10.30 a.m. on 14 April 2010.

Billerud's business concept is to offer demanding customers packaging materials and solutions that promote and protect their products - packaging that is attractive, strong and based on renewable materials. Billerud has a world-leading position within several product segments including paper for consumer packaging and industrial applications. Production takes place at three integrated pulp and paper mills in Sweden and at one paper mill in the UK.

If the members of the Swedish Paper Workers Union decide to carry out their notice of total stoppage of work at Billerud's paper mill in Skärblacka at 06.00 CET tomorrow, 16 April, production at Skärblacka will come to a complete standstill.

The loss of production is expected to affect Billerud's earnings by approximately SEK 3 million per day, and will lead to one-time costs of approximately SEK 2.5 million for firing up and closing down the soda recovery boiler. These costs are exclusive of any compensation that may be received from the Confederation of Swedish Enterprise's strike fund (Sw. konfliktfond).

"It is extremely unfortunate if the Paper Workers Union decides to close down this mill which is very important for Billerud and for our customers. This action will be detrimental for our key customers as well as for employmentopportunities at the mill," says Billerud's President and CEO, Per Lindberg.

For further information, please contact:
Per Lindberg, President and CEO, +46 8 553 335 01 or +46 702 48 15 17
Bertil Carlsén, CFO, +46 8 553 335 07, +46 73 021 10 92

The information is such that Billerud is obligated to publish under the Swedish Securities Market Act. Submitted for publication at 10.50 a.m. on 15 April 2010.

Billerud's business concept is to offer demanding customers packaging materials and solutions that promote and protect their products - packaging that is attractive, strong and based on renewable materials. Billerud has a world-leading position within several product segments including paper for consumer packaging and industrial applications. Production takes place at three integrated pulp and paper mills in Sweden and at one paper mill in the UK.

The Swedish Paper Workers Union's overtime ban, ban on employing new staff, and ban on hiring temporary staff will come into force at 6 pm on 12 April 2010.  

The overtime ban may have major consequences for Billerud, chiefly in the form of disruptions to production and delayed deliveries to customers.  
Any financial consequences will be quantified and communicated on a continuous basis.

For further information please contact:
Bertil Carlsén, CFO, +46 8 553 335 07 or +46 73 021 10 92

The Annual Report for 2009, including the Sustainability Report for 2009, is now available at www.billerud.com/reports. The printed version of the Annual Report will be distributed to shareholders and other stakeholders that have requested this.

Stockholm 12 April 2010
Billerud AB (publ)

Per Lindberg
President and CEO

For further information please contact
Bertil Carlsén, CFO, +46 8 553 335 07 or +46 73 021 10 92

The information is such that Billerud is obligated to publish under the Swedish
Securities Market Act. Submitted for publication at 10.00 a.m. on 12 April 2010.

Billerud is a packaging paper company with a business concept to supply customers with innovative and high quality packaging paper. A consistent concentration on attractive market segments and a strong customer focus are cornerstones of Billerud's strategy. Billerud focuses on kraft paper and containerboard and has a world-leading position within several product segments. The company's production units are among the most cost-efficient in Europe for these products.