Worse than expected for Billerud as it reports operating loss of SEK 229 million in first quarter

Sales fell to SEK 9.8 billion, down from SEK 11.1 billion a year earlier.

The result was worse than expected. The adjusted operating profit of SEK 525 million compares with an average analysts' forecast of SEK 646 million, according to Bloomberg.

Ahead of the second quarter, Billerud sees positive effects from lower pulpwood prices and from cost savings, but expects a challenging market in Europe.

The North American market is described as stable.