Fire on grounds of Port Alberni mill extinguished; wind-blown embers caused spot fires

Comments by the CEO: The third quarter was another solid quarter for Billerud. As we had planned, our net sales grew, and profitability improved in both regions. The positive profitability trend we have seen from the beginning of the year continued. The Group’s EBITDA margin ended at 14%, our strongest result since Q4 2022. Production stability was solid in the quarter and our scheduled maintenance stops in three mills went according to plan. Yet again, region North America delivered an excellent financial performance with double digit sales growth and 18% EBITDA margin. All our categories in the US contributed to the strong result. In Region Europe, our fiber cost continued to increase, while most other input costs declined. Also for this quarter, we were successfully able to offset the cost inflation by proactive pricing and portfolio management for Europe. This is key and it will continue to be one of our top priorities going forward. Region Europe reached an EBITDA margin of 16%, the highest profitability in two years. Our efficiency enhancement program continues to deliver structural savings. Disciplined work to eliminate price point outliers in the customer base as well as to increase our field-purchased pulpwood in the vicinity of our Swedish mills produces positive effects.

Madison Paper Industries, a partnership of UPM and Northern SC Paper Corp., a subsidiary of The New York Times Company, concluded the sale of its hydro power facilities to Eagle Creek Renewable Energy, LLC, a hydroelectric power producer, based in Morristown, NJ, USA on 31 July 2017. The transaction was announced by Madison Paper Industries in April 2017.

The city of Lappeenranta has come of age in symbiosis with UPM. For over 120 years, the forest giant has driven prosperity and innovation in the eastern Finnish border town newly voted as one of Europe’s greenest cities. “Lappeenranta wouldn’t be the vibrant city it is today without UPM,” says Mayor Kimmo Jarva. His words are more than a polite nod to the city’s top corporate taxpayer. Ever since the Kaukas mill was founded in 1873, the historic garrison town has evolved in close synergy with UPM. The mayor’s fourth-floor office provides sweeping views of the forests that have brought wealth to the town. The same forests now yield not only sawn timber, pulp and paper but also a new kind of “green gold” – circular innovations such as renewable biofuels, biochemicals and biomedical products.