or the first quarter of 2018, total revenue decreased by $23.4 million, or 92.5%, to $1.9 million from $25.3 million for the same period of the prior year. Gross loss was $0.7 million for the first quarter of 2018, compared to gross profit of $5.7 million for the same period of the prior year. Click Read More below for additional information.

Key highlights Q4: *Organic* and currency neutral sales growth of 14% *Solid operating cash flow and strong balance sheet *Shift towards softer demand and declining sentiment. Quarterly data Q4: *Net sales increased by 79% to SEK 11,971 million (6,688), whereof Billerud North America accounted for SEK 4,004 million *Operating profit was SEK 1,353 million (418), including items impacting comparability of SEK -52 million (-177) *Net profit was SEK 940 million (320). Comments by the CEO: Full-year performance 2022 has been excellent. Organic and currency neutral sales growth for the year was 16%. The EBITDA margin was 19% and earnings per share increased from SEK 7.2 to SEK 20.1. The Board of Directors proposes an approximately 75% increase of dividend to SEK 7.5 per share.

Antti Jääskeläinen, Executive Vice President, UPM Raflatac, will be leaving UPM to assume the role of President and CEO in the Finnish logistics and distribution company Posti Group Oyj. He will continue with his duties in UPM until the end of July 2024. Antti joined UPM in 2014 and was appointed to UPM’s Group Executive Team in 2016 with responsibility for UPM Raflatac Business Area. During recent months Antti has also held the interim responsibility for UPM Communication Papers Business Area. “I want to thank all my colleagues in UPM for the great journey together in creating a future beyond fossils and building the global profitable growth of UPM Raflatac. UPM is a great company with great people, and I am convinced that UPM will continue to build a strong future. I wish everybody the best of success,” says Antti Jääskeläinen.