Billerud’s Annual and Sustainability Report 2023

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Leader in high-performing paper and packaging materials

Billerud is a global leader in high performance paper and packaging materials – passionately committed to sustainability, quality and customer value. We serve customers in more than 100 countries with recyclable products made from cellulose fibers.

billerud 27mar24 1


A challenging year

2023 was a challenging year compared to an excellent 2022. This was due to lower sales volumes caused by a weaker market and historically high costs. There were some positive milestones however, including the successful completion of the Frövi recovery boiler, implementation of a more agile organization, and a positive result from our efficiency enhancement program.

Efficiency initiatives deliver

In the beginning of 2023, Billerud launched a three-year efficiency enhancement program to improve profitability that includes cost-reduction measures in both regions. The announced target for the program was an EBITDA uplift of SEK 1.5 billion by the end of 2025. The program was initially estimated to deliver SEK 400 million in 2023, but already in June, Billerud announced an accelerated delivery of the program, raising the ambition for 2023 to SEK 600 million. This target was achieved by year-end.

Recovery boiler up and running

Billerud’s transition to a circular society continues with the completion of a new SEK 2.6 billion recovery boiler at our Frövi mill. The new boiler runs on fossil-free biofuel and will contribute to lower emissions to air and improve the mill’s energy efficiency. The project, which was announced in 2021, was delivered on time and within budget in the third quarter of 2023.

At the top for sustainability

For the fourth consecutive year, Billerud’s sustainability work was recognized by EcoVadis with a Platinum grade in its annual evaluation. This puts Billerud in the top 1% ranking in the industry regarding the successful integration of sustainability principles into the business.


Source: Billerud