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Billerud posts another strong year inNorth America supported by favorable market conditions in US

Billerud closed 2025 with another year of standout performance in North America even as the company grappled with a far more challenging environment in Europe and Asia.

In the fourth quarter, Billerud North America delivered a 20% earnings before interest, tax, depreciation and amortization (EBITDA) margin, continuing its
trend of “excellent profitability”. The company’s mill operating rates rose to 79% in the fourth quarter, up from 68% in the same period of 2024.

Across the full year 2025, North America again accounted for roughly half of Billerud’s group EBITDA despite representing only one third of total net sales.

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