Thank you, operator. We would also like to say a warm welcome to Nordic Paper's quarter one report today. My name is Anita Sjölander, I'm the CEO of Nordic Paper, and here beside me, I have our CFO, Niclas Eriksson, as well. I have now had the pleasure to be the CEO of Nordic Paper for four years, and I joined the company 2018. Pulp and paper has been my passion and work life for more than 28 years now. What makes my heart tick and the reason for choosing to be in this business is the product paper, because it is based on renewable resources, it is recyclable, and it's also biologically degradable. An important aspect of our specialty paper is also that it can improve the quality of everyday life with citizens. Increasingly importing that our paper is supporting sustainability, especially when we are replacing fossil alternatives. Niclas, you've been a bit longer than me with the company. Yes, a bit. I've been in the company for almost 10 years now, and the latest, five years as a CFO. I don't share your long experience in pulp and paper industry, but I've been in other industries, and I have total experience of that of almost 30 years. Yes, this is our 10th quarterly report together. We worked alongside during the listing process, and we also rang the bell together in October 2020. At that time, we had 2,700 shareholders. That number has been increasing throughout the years, and we are now more than 9,000 shareholders. Of course, we're very happy that more people believe in the company and want to be a part of our journey. Before we get into the report and the numbers, I would like to take just a few minutes to say a few words about who Nordic Paper is. I know that many of you listening in are familiar with the company, as we have many new shareholders, I will take the opportunity to say a few words. Nordic Paper is a niche producer, a global supplier of high quality specialty paper. We have more than 800 customers all over the world, but our main market is Europe. We have a low churn of customers, and we have been doing business with many of them for a long time, building long-term relationships and loyalty. For many of our customers, we are a preferred supplier. We have two segments in the company. We have the Kraft Paper and the Natural Greaseproof. The majority of our paper is used in food applications, but we are also selling paper for technical and industrial applications. What we have done, we have chosen to have our largest exposure to applications with less cyclicality, such as the food industry and packaging. We have chosen to have lower exposure in applications with higher variability in demand, such as the building industry and ISM and SACs. You and I can come in contact with the papers that we are selling every day when we go into a shop and put some fruit and vegetables in a paper bag in a grocery shop, or when we are carrying home our shopping in an unbleached paper bag. You will find our greaseproof paper when you are having some fast food or in a restaurant or maybe if you're doing some cooking and baking at home. That was my few minutes about the company, and now I would like to start to zoom in on the first quarter. Needless to say, maybe we are all aware about the situation in the world at the moment. We've now had the war in Europe for more than one year with the terrible consequences for the Ukrainian people. We have the financial uncertainty with the general inflation and also increasing interest rates at the moment. Nordic Paper is entering into this first quarter from a very strong position. Throughout 2022, we had a very strong demand of paper and the customers saw also some constraints in the supply chains over to them. During last year, there was some lower availability on the market for our customers, and they were securing their production capacity through building some stocks. What we have seen now when the supply chain has more normalized in the beginning of 2023 and also a softer market situation with expectations of lower prices, this has led to some destocking ongoing at many of our customers. In this environment, we have shown a strong performance, and now it's time to move to the highlights and the results of quarter one. With the strong performance in quarter one, we have new records now, two new quarterly records, one for net sales and one for EBITDA. The EBITDA margin at 21.6%, and for rolling 12 months, we are on a level of 18.5%. That is in relation to our financial target to be on approximately 20% in the medium term. Compared to the very strong 2022, the market has softened with some pressure on prices. Our focus have been to defend our price levels. In the current market situation, the value of having long-term relationships with customers is extra beneficial. As we are the first choice for many of our customers, this supports the development of our sales volumes. In a softer market with also some price pressure, we have decided to take some production curtailment in the quarter to some extent. In the next slide, we will share the development of net sales and EBITDA. The new quarterly record for net sales is SEK 1,305 million. That is 8% higher than the previous record we presented, and that was achieved in Q4 last year. Compared to the same quarter, 2022, it is an improvement by 24%. The new record for EBITDA is SEK 282 million, which is an improvement by 8.5% compared to the previous record not-notification in Q4 last year. The EBITDA margin is at 21.6%. As I mentioned, the markets have been softer in Q1, and I will show you in the next slide how that has impacted our sales volumes. Our general focus on selling paper, where the end use is for food applications and more stable industrial applications, generally generates a more stable situation when it comes to our sales volumes. Due to the current market situation, though, we have decided in Q1 to reduce our sales volumes somewhat and through reducing our production output. That has led now to sales volumes down by 4% compared to Q1 2022. When you look into the graph on this slide, you see that we still have an increase compared to quarter four last year. I just want to remind you what we described in the last report, that during quarter four, we had somewhat lower production output, and we also changed some of our delivery terms for some customers and markets, leading to a reduction of the sales volume in higher inventory instead. I mentioned in the beginning that we have two segments in Nordic Paper: Kraft Paper and Natural Greaseproof. I would now like to share the result of these two segments individually, and I will start with the Kraft Paper segment. In this segment, we are supplying our customers with unbleached strong Kraft Paper. We have two production sites in Sweden producing unbleached Kraft Paper, and all of our paper is based on our own production of pulp. Our customers are producing bags and sacks, packaging for food and other goods, and also some other applications, technical and industrial end uses for climate control equipment or electrotechnical paper, some examples. The very strong performance we had in Kraft Paper segment 2022 continued also in quarter one, where the new net sales record is SEK 695 million. Compared to the first quarter in 2022, that is an increase by 21%. The key driver for this great improvement is the product prices. They have increased positively by 22% compared to the product prices we had in quarter one last year. We have some lower sales volume, 6% down, which is contributing negatively then. We had a very strong start also on Q1 2022, I should mention, as comparison. It's a strong comparison quarter as well. The EBITDA margin compared Q1 last year to Q1 this year, you can see a small decrease. Percentage-wise, the cost increases have been slightly higher than the product prices that we have implemented during the year. Still, we end up at a very good EBITDA margin at 37.6%. That was the result of the Kraft Paper segment, and I will now continue with the Natural Greaseproof segment. In the Natural Greaseproof segment, we are supplying our customers with this paper that is excellent for food contact. We are not adding any harmful chemicals to this paper. Some of our competitors are adding PFAS or fluorocarbons to achieve the properties of greaseproofness. This paper goes to food applications. It goes to professionals that are using the paper in restaurants or bakeries, and also to ourselves as home bakers or home cooking. We have three production units in this segment. We have one each in Sweden, in Norway, and in Canada. In this segment, we worked very hard during the last year to increase the product prices. The end of the year, we also implemented energy surcharges because we had very high increase in electricity prices. Beginning of this quarter, we had product prices for greaseproof paper on a historically high level, and on average, 21% higher compared to quarter one 2022. Those increases on the product prices is also the key driver for the new record net sales level, SEK 626 million. Compared to last year, Q1 2022, the EBITA margin increased to 10%. When you look in the graph, you can see that compared to quarter four last year, that is a slight downturn, and that is a result of a negative mix effect, and also the curtailment that we have done during quarter one, lowering the production output. That gives a larger negative effect compared to the cost reductions we have had in quarter one when it comes to pulp and energy. We will look deeper into the financial development of the group, and we will start with the net sales. In 2022, we made several price increases, and to the end of the year, we also implemented energy surcharges to mitigate the higher energy costs that we saw on the market in the autumn. We entered Q1 2023 on very high price levels. During the quarter one, we have seen that the energy prices on the stock market have stabilized on a lower level than we saw in the autumn. The energy charges are phased out during this quarter. Through the second half of the quarter, we also saw a price pressure on the market. We made some price decreases, but these have not given any significant effect to this quarter. This development gives us a large increase of the net sales compared to last year, where the price increases represents 22% of the increase. We have some negative volume effect during this quarter compared to Q1 2022. We also have a positive currency effect since the invoicing currencies, EUR and USD, have a stronger rate towards the SEK compared to last year. The price effect is also a significant part of the development for the EBITDA during this quarter. We report an EBITDA of SEK 282 million compared to SEK 237 million, and the fact that the price increases are a lot higher than the cost increases is the main factor to this improvement. The cost increases that we see in variable costs are mainly related to pulpwood, where we see a significant cost increase on the market, but also to chemicals and pulp. Energy costs have been in our focus during the autumn, of course, because of the price increase on the market. Now we can see for this quarter that the prices are actually lower than the same quarter last year. The positive currency effect that we saw in net sales are on EBITDA level to a large part offset by input material that we buy in foreign currencies. When we take a look at the working capital, we have in 2022 seen a development where the working capital have increased. The main reason for that is our increased invoicing prices, and also the increased cost for input material. We've seen an increasing value for accounts receivables and also inventories. In quarter one, we can see that this development has stabilized, and the values for inventory and accounts receivables are only slightly higher to the end of the quarter compared to start of the year. We still see an increase in the working capital related to that we have lower accounts payables, and we have also made a larger payment of supplementary income tax related to 2022. This tax payment gives also an effect to the cash flow during this quarter. When we look at the financial position to the end of this quarter, we can see that we still have a comparably low net debt of SEK 966 million. That's almost the exact same amount as at the end of 2022. We can also see that we have improved the net debt/EBITDA relation even further, to 1.1 compared to the end of 2022. This is clearly below the target that we have to be below 2.5. To summarize, we are very satisfied with the results for this quarter, of course, and the stable financial position where we continue to have a low net debt and further improved leverage. Besides the financial information, we also report on our sustainability performance. Yes. Sustainability is an important driver for the business, but it's also an integrated way of our working, we continuously focus on improving in this area. Last year, we updated the long-term target we have on reducing our climate impact. The new target is that to reduce by 50% the Scope one, two, three fossil greenhouse gases by 50% in 2030 compared to 2020. We are now reporting our progress on this target, and we can share that we, during the first quarter, achieved almost a 9% reduction on the fossil greenhouse gases. Reducing our carbon footprint is one commitment to the future. It's one way of developing our environmental performance in operations and supply chain. For Bäckhammar, our largest production unit, we have been waiting some time now to receive conditions for a new production permit, and in order to be able to develop that production facility. The last date, the last day of January, we received a new production permit from the Land and Environment Court. As the process allows, the decision has been appealed by a private individual. What Nordic Paper now has to do is wait for the response and the outcome of this appeal. When that is settled and when a new production permit has gained legal force, the next step for us will then be to present the possibilities of developing this mill for the board of directors. Now I will change the mode from the reporting outcome in quarter one to share our view for the coming quarter. I've talked about in this report, reporting presentation about softer market during quarter one, and that we expect that the price pressure will remain during the second quarter. In April, we saw a decrease of 7%-8% in the selling prices in local currency, and that is now compared to the historically high average selling prices that we had in quarter one. In such conditions, we will use the possibility to reduce the sales volumes. That is an option also in quarter two. Pulp price, we expect to further decrease. When it comes to other costs in total, we expect them to be largely unchanged. That finalizes our reporting for the quarter one. Now we're, of course, very happy to answer any questions that you might have. I will give the word back to operator. Ladies and gentlemen, at this time, we will begin the Q&A session. Anyone who wishes to ask a question may press star followed by one on the touchtone telephone. If you wish to remove yourself from the question queue, please press star followed by two. If you're using speaker equipment today, please lift the handset before making your selections. Anyone who has a question may press star followed by one at this time. One moment for the first question, please. There are no questions at this time. I hand back to Anita Sjölander for closing comments. Thank you, operator. We actually did receive some ahead of the meeting, I think we need to pick up on those that we have received here. Niclas, you have some questions there. Yeah. I read them out. First one is, you have reported weak demands in both segments. Are there any structural changes impacting Nordic Paper markets? I would say that the weaker markets that we have seen is related to both the segments. With what we see now is something that we see in the short term going forward, there's no structural change in the market. We still believe and we believe in the long-term outlook for both of our segments that we have a growing market to supply specialty paper to. The 2nd question we have received is, what actions will you take to mitigate the effect from the weaker market? We have done in quarter one, we have taken some curtailment. That is an option that we also have, of course, in the second quarter. Other than that, we are, of course, continuing to focus on the good work that is already done in the company, and we are being cost-effective and optimizing our processes. The normal work ongoing to continue to develop the company, I would say. That's the main options that we have. Now we just want to finish this presentation by strengthening our message in this report, a short summary with our message and the outlook for quarter two. We are very proud to, yet again, present a new record, strong performance with new quarterly records for both net sales and EBITDA. This was achieved in an environment with considerably weaker markets. We expect the weaker market to continue and also that the price pressure will remain during the second quarter. That is our summary of the outlook and the report. Finally, I just want to share that this week, we also published our annual report and the sustainability report for 2022. In that report, we summarized a fantastic year we had, 2022, with a very strong market, several new records for net sales and EBITDA on quarterly level, but also on annual level. We are there describing our first year with Nordic Paper Québec that we acquired last day of 2021. This is also the second year that we are increasing the scope of our sustainability reporting. The report is available on the website for your reading. The next time we will report is the twentieth of July, when we will share our quarter two results. There is an opportunity before that to meet our shareholders, and that is in our AGM meeting that will take place in Karlstad, the twenty-fourth of May, that you are most welcome to. With that, I would just like to say thank you to all of you listening in and wishing you a great rest of the day. Thank you.
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