Board Change • Aug 28
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 1 experienced director. 1 highly experienced director. Deputy Board Member Nicklas Backelin is the most experienced director on the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Jun 24
Nordic Paper Holding AB (publ) Proposes Extraordinary Dividend, Payable on 23 July 2025 Nordic Paper Holding AB (publ) at the extraordinary general meeting to be held on 16 July 2025, proposed an extraordinary dividend of SEK 12.00 per share, corresponding to a total amount of approximately SEK 803 million. The record date for the extraordinary dividend shall be on 18 July 2025. If the extraordinary general meeting resolves in accordance with the proposal, the dividend will be paid to the shareholders on 23 July 2025. Announcement • May 28
Nordic Paper Holding AB (publ) Approves No Dividend for the Financial Year 2024 Nordic Paper Holding AB (publ) at its AGM held on May 28, 2025, approved no dividend is to be distributed for the financial year 2024, and that the funds available to the company for distribution is carried forward. Announcement • Mar 22
Nordic Paper Holding AB (publ), Annual General Meeting, May 28, 2025 Nordic Paper Holding AB (publ), Annual General Meeting, May 28, 2025. Announcement • Mar 21
Nordic Paper Holding AB (publ) Proposes No Dividend for the Financial Year 2024 Nordic Paper Holding AB (publ) proposed no dividend for the financial year 2024 to the Annual General Meeting to be held on 28 May 2025. Announcement • Mar 06
Nordic Paper Holding AB (publ) to Report Fiscal Year 2024 Final Results on Mar 21, 2025 Nordic Paper Holding AB (publ) announced that they will report fiscal year 2024 final results on Mar 21, 2025 New Risk • Feb 06
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 85% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 19% per year for the foreseeable future. High level of non-cash earnings (29% accrual ratio). Minor Risk High level of debt (85% net debt to equity). Board Change • Feb 02
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Independent Director Christer Simrén was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jan 31
Full year 2024 earnings released: EPS: kr6.96 (vs kr6.22 in FY 2023) Full year 2024 results: EPS: kr6.96 (up from kr6.22 in FY 2023). Revenue: kr4.70b (up 4.6% from FY 2023). Net income: kr465.0m (up 12% from FY 2023). Profit margin: 9.9% (in line with FY 2023). Revenue is forecast to stay flat during the next 2 years compared to a 4.1% growth forecast for the Forestry industry in Europe. Announcement • Jan 30
Nordic Paper Holding AB (publ) to Report Fiscal Year 2024 Final Results on Apr 07, 2025 Nordic Paper Holding AB (publ) announced that they will report fiscal year 2024 final results at 9:00 AM, Central European Standard Time on Apr 07, 2025 Announcement • Jan 13
Nordic Paper Holding AB (publ) Announces Board Appointments Nordic Paper Holding AB (publ) at the EGM held on January 13, 2025, the shareholders approved that the board of directors should be composed of seven board members with no deputy board members. The general meeting resolved to elect Tim Stubbs, Russel Wanke, Omar Hoek, Christer Simrén, Alexandre Mignotte, Ricardo Mateiro and Riccardo Franchi as new board members for the period until the end of the next annual general meeting. Accordingly, all current board members elected by the general meeting will be replaced. The general meeting further resolved to elect Tim Stubbs as chairman of the board. Announcement • Oct 11
Strategic Value Partners, LLC cancelled the acquisition of Nordic Paper Holding AB (publ) (OM:NPAPER) from Shanying International Holdings Co.,Ltd (SHSE:600567) and others. Strategic Value Partners, LLC proposed to acquire Nordic Paper Holding AB (publ) (OM:NPAPER) from Shanying International Holdings Co.,Ltd (SHSE:600567) and others for SEK 3.3 billion on October 11, 2024. A cash consideration valued at SEK 50 per share will be paid by Strategic Value Partners, LLC. SUTRIV Holding AB has entered into an irrevocable undertaking with offeror to accept the Offer, representing 48.16 per cent of the Company’s shares. The Offer has only limited conditionality and, inter alia, has an acceptance condition of offeror becoming the owner of shares representing at least 48% of the total number of shares in Nordic Paper, being lower than the number of shares that are subject to the Irrevocable Commitment. Completion of the acquisition of Nordic Paper, subject to all necessary clearances, approvals, decisions and other actions from authorities or similar, including approvals from competition authorities and foreign direct investment approvals, being obtained,The acceptance period for the Offer is expected to commence on or around November 6, 2024, and end at or around December 11, 2024. BofA Securities acted as financial advisor and Advokatfirman Vinge acted as legal counsel, Ernst & Young AB provided fairness opinion to the Board of Directors of Nordic Paper.
Strategic Value Partners, LLC cancelled the acquisition of Nordic Paper Holding AB (publ) (OM:NPAPER) from Shanying International Holdings Co.,Ltd (SHSE:600567) and others on October 11, 2024. The Board of Directors’ view is that the Offer Price does not reflect the value of the Company and therefore unanimously recommends shareholders not to accept the Offer. Announcement • Oct 08
Nordic Paper Announces That the Nomination Committee Nordic Paper announced that the nomination committee has been appointed for the period until the annual general meeting 2025 in accordance with the current instructions for the nomination committee. The nomination committee has the following members: Andreas Kihlblom, appointed by Sutriv Holding AB; Caroline Sjösten, appointed by Swedbank Robur Fonder AB; Richard Torgerson, appointed by Nordea Funds Ltd. The chairman of the nomination committee is Andreas Kihlblom. Reported Earnings • Jul 21
Second quarter 2024 earnings released: EPS: kr2.55 (vs kr2.16 in 2Q 2023) Second quarter 2024 results: EPS: kr2.55 (up from kr2.16 in 2Q 2023). Revenue: kr1.23b (up 9.4% from 2Q 2023). Net income: kr171.0m (up 18% from 2Q 2023). Profit margin: 14% (up from 13% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Forestry industry in Europe. Announcement • May 24
Nordic Paper Holding AB (Publ) Approves Dividend, Payable on May 30, 2024 Nordic Paper Holding AB (publ) a dividend of SEK 4 per share, with record date for the right to receive dividend on 27 May 2024. With this record date, the payment of dividend is estimated to be effectuated by Euroclear Sweden AB on 30 May 2024. Upcoming Dividend • May 17
Upcoming dividend of kr4.00 per share Eligible shareholders must have bought the stock before 24 May 2024. Payment date: 30 May 2024. Payout ratio is a comfortable 68% and the cash payout ratio is 91%. Trailing yield: 6.8%. Within top quartile of British dividend payers (5.7%). Higher than average of industry peers (3.1%). Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: kr2.23 (vs kr2.59 in 1Q 2023) First quarter 2024 results: EPS: kr2.23 (down from kr2.59 in 1Q 2023). Revenue: kr1.22b (down 6.2% from 1Q 2023). Net income: kr149.0m (down 14% from 1Q 2023). Profit margin: 12% (down from 13% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Forestry industry in Europe. Announcement • Apr 16
Nordic Paper Holding AB (publ) Proposes Dividend, Payable on May 30, 2024 The board of directors of Nordic Paper Holding AB (publ) proposed that the annual general meeting to be held on 23 May 2024, to resolve on a dividend of SEK 4.00 per share, with a proposed record date for the right to receive dividend on 27 May 2024, whereby the dividend is expected to be paid to the shareholders on 30 May 2024. Reported Earnings • Apr 12
Full year 2023 earnings released: EPS: kr6.22 (vs kr8.46 in FY 2022) Full year 2023 results: EPS: kr6.22 (down from kr8.46 in FY 2022). Revenue: kr4.49b (flat on FY 2022). Net income: kr416.0m (down 27% from FY 2022). Profit margin: 9.3% (down from 13% in FY 2022). Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Forestry industry in Europe. Announcement • Apr 10
Nordic Paper Holding AB (publ) to Report Fiscal Year 2024 Results on Jan 30, 2025 Nordic Paper Holding AB (publ) announced that they will report fiscal year 2024 results on Jan 30, 2025 Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to kr49.10, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Forestry industry in Europe. Total returns to shareholders of 17% over the past year. Declared Dividend • Feb 02
Dividend reduced to kr4.00 Dividend of kr4.00 is 14% lower than last year. Ex-date: 24th May 2024 Payment date: 30th May 2024 Dividend yield will be 9.2%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by both earnings (64% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 26% per year over the past 3 years and payments have been stable during that time. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 31
Full year 2023 earnings released: EPS: kr6.22 (vs kr8.46 in FY 2022) Full year 2023 results: EPS: kr6.22 (down from kr8.46 in FY 2022). Revenue: kr4.47b (flat on FY 2022). Net income: kr416.0m (down 27% from FY 2022). Profit margin: 9.3% (down from 13% in FY 2022). Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Forestry industry in Europe. Announcement • Jan 30
Nordic Paper Holding AB (publ) Proposes Dividend The Board of Directors of Nordic Paper Holding AB (publ) is proposing a dividend of SEK 4.00 (4.65) per share, corresponding to a total dividend of SEK 268 m (311 m). Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr39.55, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Forestry industry in Europe. Total returns to shareholders of 42% over the past year. Simply Wall St's valuation model estimates the intrinsic value at kr49.29 per share. Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: kr0.50 (vs kr0.57 in 3Q 2022) Third quarter 2023 results: EPS: kr0.50 (down from kr0.57 in 3Q 2022). Revenue: kr1.09b (up 5.1% from 3Q 2022). Net income: kr34.0m (down 11% from 3Q 2022). Profit margin: 3.1% (down from 3.7% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 1.8% p.a. on average during the next 3 years, while revenues in the Forestry industry in Europe are expected to grow by 1.7%. Buying Opportunity • Oct 31
Now 20% undervalued Over the last 90 days, the stock is up 11%. The fair value is estimated to be kr42.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 36%. Revenue is forecast to decline by 3.4% in 2 years. Earnings is forecast to decline by 32% in the next 2 years. Buying Opportunity • Oct 13
Now 21% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be kr44.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 36%. Revenue is forecast to decline by 3.4% in 2 years. Earnings is forecast to decline by 32% in the next 2 years. Announcement • Sep 27
Nordic Paper Holding AB (publ) Announces Appointment of Nomination Committee Nordic Paper announced that the nomination committee has been appointed for the period until the annual general meeting 2024 in accordance with the current instructions for the nomination committee. The nomination committee has the following members: Andreas Kihlblom, appointed by Sutriv Holding AB; Caroline Sjösten, appointed by Swedbank Robur Fonder AB and Patricia Hedelius, appointed by AMF Tjänstepension AB and AMF Fonder AB. The chairman of the nomination committee is Andreas Kihlblom. Buying Opportunity • Jul 21
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 24%. The fair value is estimated to be kr39.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 36%. Revenue is forecast to decline by 4.8% in 2 years. Earnings is forecast to decline by 32% in the next 2 years. Reported Earnings • Jul 20
Second quarter 2023 earnings released: EPS: kr2.16 (vs kr2.44 in 2Q 2022) Second quarter 2023 results: EPS: kr2.16 (down from kr2.44 in 2Q 2022). Revenue: kr1.14b (flat on 2Q 2022). Net income: kr145.0m (down 12% from 2Q 2022). Profit margin: 13% (down from 14% in 2Q 2022). Revenue is forecast to decline by 1.8% p.a. on average during the next 3 years, while revenues in the Forestry industry in Europe are expected to remain flat. Recent Insider Transactions • May 29
Chairman of the Board recently bought kr194k worth of stock On the 26th of May, Per Bjurbom bought around 6k shares on-market at roughly kr33.39 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Per's only on-market trade for the last 12 months. Recent Insider Transactions • May 06
Chief Executive Officer recently bought kr99k worth of stock On the 3rd of May, Anita Sjolander bought around 3k shares on-market at roughly kr39.55 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Anita has been a buyer over the last 12 months, purchasing a net total of kr223k worth in shares. Reported Earnings • Apr 28
Full year 2022 earnings released Full year 2022 results: Net income: kr566.0m (up 293% from FY 2021). Revenue is forecast to grow 39% p.a. on average during the next 3 years, while revenues in the Forestry industry in Europe are expected to remain flat. Announcement • Jan 28
Nordic Paper Holding AB (publ) Proposes Dividend for the Year Ended December 2022 The Board of Directors of Nordic Paper Holding AB (publ) proposed a dividend of SEK 4.65 per share, corresponding to a total dividend of SEK 311 million for the year ended December 2022. Reported Earnings • Jan 28
Full year 2022 earnings released: EPS: kr8.46 (vs kr2.15 in FY 2021) Full year 2022 results: EPS: kr8.46 (up from kr2.15 in FY 2021). Revenue: kr4.48b (up 45% from FY 2021). Net income: kr566.0m (up 293% from FY 2021). Profit margin: 13% (up from 4.7% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.3% p.a. on average during the next 2 years, while revenues in the Forestry industry in Europe are expected to remain flat. Recent Insider Transactions • Dec 14
Chief Executive Officer recently bought kr124k worth of stock On the 7th of December, Anita Sjolander bought around 4k shares on-market at roughly kr31.05 per share. This transaction amounted to 53% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Anita has been a buyer over the last 12 months, purchasing a net total of kr305k worth in shares. Buying Opportunity • Nov 22
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be kr40.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.9% over the last 3 years. Earnings per share has declined by 10%. Revenue is forecast to grow by 10% in 2 years. Earnings is forecast to decline by 1.9% in the next 2 years. Board Change • Nov 18
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Representative Director Tom Rod was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 29
Third quarter 2022 earnings released: EPS: kr0.57 (vs kr0.25 loss in 3Q 2021) Third quarter 2022 results: EPS: kr0.57 (up from kr0.25 loss in 3Q 2021). Revenue: kr1.04b (up 46% from 3Q 2021). Net income: kr38.0m (up kr55.0m from 3Q 2021). Profit margin: 3.7% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, while revenues in the Forestry industry in Europe are expected to remain flat. Board Change • Oct 19
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Representative Director Tom Rod was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 26
Nordic Paper Holding AB (publ) to Report Fiscal Year 2022 Results on Jan 27, 2023 Nordic Paper Holding AB (publ) announced that they will report fiscal year 2022 results on Jan 27, 2023 
