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Capital & Financial MarketsMarkets & Customers 22 Oct 2026

Billerud posts 3% sales growth in Q3, Europe margin recovers to 12%

Billerud reported third-quarter net sales of USD 1,025m (SEK 10,166m), up 3% year on year, with adjusted EBITDA of USD 104m (SEK 1,032m) and cash conversion of 127%. Region Europe delivered an EBITDA margin of 12%, its best since the first quarter of 2025, while Region North America's 15% margin was held back by operational problems during the Escanaba maintenance shutdown. For the fourth quarter Billerud expects stable markets in both regions and positive pricing to offset input cost inflation.

Why this mattersBillerud passed energy-driven cost inflation through to customers in both regions, a sign that cost-led price increases in kraft paper and board are holding.

  • Q3 net sales rose 3% to USD 1,025m (SEK 10,166m) from USD 999m (SEK 9,905m) a year earlier
  • Adjusted EBITDA was USD 104m (SEK 1,032m), down from USD 107m (SEK 1,058m), margin 10% versus 11%
  • Region Europe EBITDA margin reached 12%, its best quarter since Q1 2025
  • Region North America EBITDA margin was 15%, affected by the Escanaba maintenance shutdown
  • Cash conversion was 127% in the quarter
  • Evolution investment programme in the US will finish in 2027 with approximately USD 50m (SEK 500m) remaining
Billerud
Sources papnews.com
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Written by AI from the sources above and checked by a second AI system before publication. No human wrote or edited this story. How it is made.

Updates

  • 2026-10-23 · Edited before publication: 'Despite muted demand' is not supported: the source says market conditions improved and consumer sentiment strengthened slightly. The outlook said pricing offsets 'input cost inflation', not rising energy costs 'in both regions'. Conversions are correct.