Rottneros Ab · OMXSTO:RROS
Rottneros Ab — Q3 2026 Earnings Presentation
18 slides from Rottneros Ab's earnings presentation, Oct 22, 2026
Slide 1: Q3 Report 2026
Per Bjurbom President and CEO Q3 Report 2026 22 October 2026 Monica Pasanen CFO
Slide 2: Highlights Q3
$ MSEK EBITDA Q3 2026 Lower wood prices Highlights Q3 Stable demand in Planned maintenance prioriti px ® ROTTNEROS
Slide 3: Rottneros
Rottneros ROTTNEROS Producer of softwood pulp for demanding customers Nasdaq Stockholm when it comes to purity and strength Since 1987 Small-cap Key figures • Net turnover 2 391 MSEK • Number employees 258 • Production volume 335 kton • 78% of pulp sales are generated from customers in prioritized n
Slide 4: Market
Market Challenging market with increased demand for unbleached pulp
Slide 5: Pulp market
PULP MARKET A cyclical market SEK/tonne Pulp prices in SEK and days of stock Days stock 11 000 80 Small movements in USD 10 000 70 prices. Positive effect from currency. 9 000 60 8 000 50 7 000 40 Global producers’ stock 6 000 30 level for BSP 41 days 5 000 20 4 000 10 3 000 0 2019 2020 2021 2022 20
Slide 6: Containerboard production Europe
PRODUCTION EUROPE Compared to previous year 4% FY 2025 1-8 2026 Europe is Rottneros’ 2% main market 0% -2% -4% 2025 - 2.5% -6% 1-8 2026 - 0.3% -8% -10% Newsprint Graphical paper Containerboard Other packaging Other Tissue Cartonboard Source: CEPI
Slide 7: Deliveries of chemical market pulp
DELIVERIES OF CHEMICAL MARKET PULP Demand decrease by 2,7 % compared to previous year Other regions Europe FY 2025 1-8 2026 19% 23% 10% Latin 8% America 6% 6% 4% North America 2% 11% 0% China 41% -2% -4% -6% China’s share of -8% the pulp market is -10% Europe China North America Latin America Other
Slide 8: Europe is Rottneros' main market
EUROPE IS ROTTNEROS’ MAIN MARKET Production of paper and board in Europe decreased by -0.3% Jan-Aug 2026 Rottneros’ delivery volumes to Europe increased by 5.4% Jan-Sep 2026 * Deliveries based on turnover
Slide 9: Q3 2026 Improved earnings, lower costs
Q3 2026 Improved earnings, lower costs
Slide 10: EBITDA Q3 2026 vs. Q3 2025
EBITDA Q3 2026 VS. Q3 2025 (MSEK) Prices moving 40 sideways 30 51 3 26 20 -6 Cost of wood 10 0 -10 Maintenance costs -20 0 -21 -1 -30 EBITDA Price Volume, Variable Fixed Other EBITDA Q3 2025 and change costs costs Q3 2026 currency inventory
Slide 11: EBITDA Jan-Sep 2026 vs. Jan-Sep 2025
EBITDA JAN-SEP 2026 VS. JAN-SEP 2025 (MSEK) 100 Lower prices, stronger SEK 41 50 20 179 -31 0 Production lower than planned -50 -63 -100 Lower costs -150 -76 -30 -200 EBITDA Price Volume, Variable Fixed Other EBITDA 1-9 2025 and change costs costs 1-9 2026 currency inventory
Slide 12: Wood is the single largest cost item
Wood is the single largest cost item Cost structure Jan-Sep 2026 6% 1% Wood 20% Other variable Personnel 45% Other costs 11% Depreciation Financial net 18%
Slide 13: Balance sheet
BALANCE SHEET MSEK Operational cash flow Net debt Equity/assets % % 600 100 500 90 Improved EBITDA 400 80 300 70 200 60 100 50 Increased working capital 0 40 -100 30 -200 20 -300 10 Low investment level -400 0 -500 -10 -600 -20
Slide 14: Summary
SUMMARY
Slide 15: Trends favoring pulp
Trends favoring pulp ELECTRIFICATION SUSTAINABILITY E-COMMERCE TISSUE
Slide 16: Rottneros' pulp sales per application
Rottneros’ pulp sales per application Sales of pulp Jan-Sep 2026 (FY 2025) FIBER CEMENT 3% 5% 5% PRINTING & WRITING (3) OTHER (3) (6%) CARTONBOARD 12% 16% (24) (11%) TISSUE 12% SPECIALITIES (12) FILTER 23% 25% ELECTROTECHNICAL (21) (20)
Slide 17: Summary
SUMMARY Improved earnings Wood prices Good demand in niches Cos
Slide 18: Q&A
Q&A Per Bjurbom President and CEO Monica Pasanen CFO