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.