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<br /> SCA Annual Report<br /> 2009<br /> Because our products make life<br /> easier for you and millions of people<br /> around the world. Because our<br /> resources and processes are a<br /> natural part of the global lifecycle.<br /> And because we care.<br /> c/o Life is our way of expressing SCA’s unique values, personality<br /> and direction.<br /> Recognition<br /> In 2008, SCA became a UN Global<br /> Compact member. SCA’s 2008<br /> Communication on Progress report<br /> was selected as representative of<br /> Best Practice by Global Compact.<br /> SCA was named one of the world’s<br /> most ethical companies by the<br /> Ethisphere Institute.<br /> SCA was ranked as one of the<br /> world’s most sustainable com-<br /> panies by the responsible business<br /> magazine Canadian Corporate<br /> Knights.<br /> 9<br /> 0 1<br /> SCA is included in the Dow Jones<br /> STOXX Sustainability Index and the<br /> Dow Jones Susta<a title="SCA_AnnualReport_2009_English.pdf page 1" href="http://viewer.zmags.com/publication/f47e8af8?page=1"> SCA Annual Report 2009</a> <a title="SCA_AnnualReport_2009_English.pdf page 2" href="http://viewer.zmags.com/publication/f47e8af8?page=2"> Because our products make life easier for you and</a> <a title="SCA_AnnualReport_2009_English.pdf page 3" href="http://viewer.zmags.com/publication/f47e8af8?page=3"> SCA at a glance SCA creates value by fulfilling t</a> <a title="SCA_AnnualReport_2009_English.pdf page 4" href="http://viewer.zmags.com/publication/f47e8af8?page=4"> Forest Products Production comprises publication </a> <a title="SCA_AnnualReport_2009_English.pdf page 5" href="http://viewer.zmags.com/publication/f47e8af8?page=5"> The year at a glance Net sales amounted to SEK 1</a> <a title="SCA_AnnualReport_2009_English.pdf page 6" href="http://viewer.zmags.com/publication/f47e8af8?page=6"> Introduction CEO’s message Strategy for diffi</a> <a title="SCA_AnnualReport_2009_English.pdf page 7" href="http://viewer.zmags.com/publication/f47e8af8?page=7"> Profit before tax +28% Cash flow from current </a> <a title="SCA_AnnualReport_2009_English.pdf page 8" href="http://viewer.zmags.com/publication/f47e8af8?page=8"> Introduction The SCA share The SCA share in </a> <a title="SCA_AnnualReport_2009_English.pdf page 9" href="http://viewer.zmags.com/publication/f47e8af8?page=9"> Data per share All earnings figures include items </a> <a title="SCA_AnnualReport_2009_English.pdf page 10" href="http://viewer.zmags.com/publication/f47e8af8?page=10"> Introduction Strategy Strategy Business con</a> <a title="SCA_AnnualReport_2009_English.pdf page 11" href="http://viewer.zmags.com/publication/f47e8af8?page=11"> Financial targets The Group shall achieve a retu</a> <a title="SCA_AnnualReport_2009_English.pdf page 12" href="http://viewer.zmags.com/publication/f47e8af8?page=12"> Introduction Strategy Return and capital stru</a> <a title="SCA_AnnualReport_2009_English.pdf page 13" href="http://viewer.zmags.com/publication/f47e8af8?page=13"> Board of Directors’ Report </a> <a title="SCA_AnnualReport_2009_English.pdf page 14" href="http://viewer.zmags.com/publication/f47e8af8?page=14"> Board of Directors’ Report Svenska Cellulosa Akti</a> <a title="SCA_AnnualReport_2009_English.pdf page 15" href="http://viewer.zmags.com/publication/f47e8af8?page=15"> Board of Directors’ Report </a> <a title="SCA_AnnualReport_2009_English.pdf page 16" href="http://viewer.zmags.com/publication/f47e8af8?page=16"> Board of Directors’ Report SCA Group Other G</a> <a title="SCA_AnnualReport_2009_English.pdf page 17" href="http://viewer.zmags.com/publication/f47e8af8?page=17"> Sales and earnings Operating profit, excluding r</a> <a title="SCA_AnnualReport_2009_English.pdf page 18" href="http://viewer.zmags.com/publication/f47e8af8?page=18"> Board of Directors’ Report SCA Group Operati</a> <a title="SCA_AnnualReport_2009_English.pdf page 19" href="http://viewer.zmags.com/publication/f47e8af8?page=19"> Financial position debt increased by SEK 729m d</a> <a title="SCA_AnnualReport_2009_English.pdf page 20" href="http://viewer.zmags.com/publication/f47e8af8?page=20"> Board of Directors’ Report SCA Group Innovat</a> <a title="SCA_AnnualReport_2009_English.pdf page 21" href="http://viewer.zmags.com/publication/f47e8af8?page=21"> Innovations can start anywhere in the Group or in</a> <a title="SCA_AnnualReport_2009_English.pdf page 22" href="http://viewer.zmags.com/publication/f47e8af8?page=22"> Board of Directors’ Report SCA Group Innovat</a> <a title="SCA_AnnualReport_2009_English.pdf page 23" href="http://viewer.zmags.com/publication/f47e8af8?page=23"> Board of Directors’ Report </a> <a title="SCA_AnnualReport_2009_English.pdf page 24" href="http://viewer.zmags.com/publication/f47e8af8?page=24"> Board of Directors’ Report SCA Group Innovat</a> <a title="SCA_AnnualReport_2009_English.pdf page 25" href="http://viewer.zmags.com/publication/f47e8af8?page=25"> Innovation in Forest Products Innovations are a</a> <a title="SCA_AnnualReport_2009_English.pdf page 26" href="http://viewer.zmags.com/publication/f47e8af8?page=26"> Net sales and operating margin SEKm </a> <a title="SCA_AnnualReport_2009_English.pdf page 27" href="http://viewer.zmags.com/publication/f47e8af8?page=27"> Board of Directors’ Report </a> <a title="SCA_AnnualReport_2009_English.pdf page 28" href="http://viewer.zmags.com/publication/f47e8af8?page=28"> Board of Directors’ Report Personal Care Ma</a> <a title="SCA_AnnualReport_2009_English.pdf page 29" href="http://viewer.zmags.com/publication/f47e8af8?page=29"> Operations in 2009 Key events • Higher producti</a> <a title="SCA_AnnualReport_2009_English.pdf page 30" href="http://viewer.zmags.com/publication/f47e8af8?page=30"> Net sales and operating margin SEKm </a> <a title="SCA_AnnualReport_2009_English.pdf page 31" href="http://viewer.zmags.com/publication/f47e8af8?page=31"> Board of Directors’ Report </a> <a title="SCA_AnnualReport_2009_English.pdf page 32" href="http://viewer.zmags.com/publication/f47e8af8?page=32"> Board of Directors’ Report Tissue Market T</a> <a title="SCA_AnnualReport_2009_English.pdf page 33" href="http://viewer.zmags.com/publication/f47e8af8?page=33"> Operations in 2009 Key events • New brand platf</a> <a title="SCA_AnnualReport_2009_English.pdf page 34" href="http://viewer.zmags.com/publication/f47e8af8?page=34"> Net sales and operating margin SEKm </a> <a title="SCA_AnnualReport_2009_English.pdf page 35" href="http://viewer.zmags.com/publication/f47e8af8?page=35"> Board of Directors’ Report </a> <a title="SCA_AnnualReport_2009_English.pdf page 36" href="http://viewer.zmags.com/publication/f47e8af8?page=36"> Board of Directors’ Report Packaging Market </a> <a title="SCA_AnnualReport_2009_English.pdf page 37" href="http://viewer.zmags.com/publication/f47e8af8?page=37"> Operations in 2009 Key events • Comprehensive </a> <a title="SCA_AnnualReport_2009_English.pdf page 38" href="http://viewer.zmags.com/publication/f47e8af8?page=38"> Net sales and operating margin SEKm </a> <a title="SCA_AnnualReport_2009_English.pdf page 39" href="http://viewer.zmags.com/publication/f47e8af8?page=39"> Board of Directors’ Report </a> <a title="SCA_AnnualReport_2009_English.pdf page 40" href="http://viewer.zmags.com/publication/f47e8af8?page=40"> Board of Directors’ Report Forest Products </a> <a title="SCA_AnnualReport_2009_English.pdf page 41" href="http://viewer.zmags.com/publication/f47e8af8?page=41"> Operations in 2009 Key events • Intensified str</a> <a title="SCA_AnnualReport_2009_English.pdf page 42" href="http://viewer.zmags.com/publication/f47e8af8?page=42"> Board of Directors’ Report Responsibility and gov</a> <a title="SCA_AnnualReport_2009_English.pdf page 43" href="http://viewer.zmags.com/publication/f47e8af8?page=43"> </a> <a title="SCA_AnnualReport_2009_English.pdf page 44" href="http://viewer.zmags.com/publication/f47e8af8?page=44"> Board of Directors’ Report Responsibility and gov</a> <a title="SCA_AnnualReport_2009_English.pdf page 45" href="http://viewer.zmags.com/publication/f47e8af8?page=45"> </a> <a title="SCA_AnnualReport_2009_English.pdf page 46" href="http://viewer.zmags.com/publication/f47e8af8?page=46"> Board of Directors’ Report Responsibility and gov</a> <a title="SCA_AnnualReport_2009_English.pdf page 47" href="http://viewer.zmags.com/publication/f47e8af8?page=47"> </a> <a title="SCA_AnnualReport_2009_English.pdf page 48" href="http://viewer.zmags.com/publication/f47e8af8?page=48"> Board of Directors’ Report Responsibility and gov</a> <a title="SCA_AnnualReport_2009_English.pdf page 49" href="http://viewer.zmags.com/publication/f47e8af8?page=49"> </a> <a title="SCA_AnnualReport_2009_English.pdf page 50" href="http://viewer.zmags.com/publication/f47e8af8?page=50"> Board of Directors’ Report Responsibility and gov</a> <a title="SCA_AnnualReport_2009_English.pdf page 51" href="http://viewer.zmags.com/publication/f47e8af8?page=51"> </a> <a title="SCA_AnnualReport_2009_English.pdf page 52" href="http://viewer.zmags.com/publication/f47e8af8?page=52"> Board of Directors’ Report Responsibility and gov</a> <a title="SCA_AnnualReport_2009_English.pdf page 53" href="http://viewer.zmags.com/publication/f47e8af8?page=53"> </a> <a title="SCA_AnnualReport_2009_English.pdf page 54" href="http://viewer.zmags.com/publication/f47e8af8?page=54"> Board of Directors’ Report Responsibility and gov</a> <a title="SCA_AnnualReport_2009_English.pdf page 55" href="http://viewer.zmags.com/publication/f47e8af8?page=55"> </a> <a title="SCA_AnnualReport_2009_English.pdf page 56" href="http://viewer.zmags.com/publication/f47e8af8?page=56"> Board of Directors’ Report Responsibility and gov</a> <a title="SCA_AnnualReport_2009_English.pdf page 57" href="http://viewer.zmags.com/publication/f47e8af8?page=57"> Interest paid to creditors </a> <a title="SCA_AnnualReport_2009_English.pdf page 58" href="http://viewer.zmags.com/publication/f47e8af8?page=58"> Board of Directors’ Report Responsibility and gov</a> <a title="SCA_AnnualReport_2009_English.pdf page 59" href="http://viewer.zmags.com/publication/f47e8af8?page=59"> Social responsibility SCA activities in the fie</a> <a title="SCA_AnnualReport_2009_English.pdf page 60" href="http://viewer.zmags.com/publication/f47e8af8?page=60"> Financial statements – Group Income statement 2</a> <a title="SCA_AnnualReport_2009_English.pdf page 61" href="http://viewer.zmags.com/publication/f47e8af8?page=61"> Financial statements </a> <a title="SCA_AnnualReport_2009_English.pdf page 62" href="http://viewer.zmags.com/publication/f47e8af8?page=62"> Financial statements Group Cash-flow stateme</a> <a title="SCA_AnnualReport_2009_English.pdf page 63" href="http://viewer.zmags.com/publication/f47e8af8?page=63"> Financial statements </a> <a title="SCA_AnnualReport_2009_English.pdf page 64" href="http://viewer.zmags.com/publication/f47e8af8?page=64"> Financial statements Group Balance sheet </a> <a title="SCA_AnnualReport_2009_English.pdf page 65" href="http://viewer.zmags.com/publication/f47e8af8?page=65"> Financial statements </a> <a title="SCA_AnnualReport_2009_English.pdf page 66" href="http://viewer.zmags.com/publication/f47e8af8?page=66"> Financial statements Parent Company Ba</a> <a title="SCA_AnnualReport_2009_English.pdf page 67" href="http://viewer.zmags.com/publication/f47e8af8?page=67"> Note </a> <a title="SCA_AnnualReport_2009_English.pdf page 68" href="http://viewer.zmags.com/publication/f47e8af8?page=68"> Notes Note 1 ACCoUNtING PRINCIPLeS The most impo</a> <a title="SCA_AnnualReport_2009_English.pdf page 69" href="http://viewer.zmags.com/publication/f47e8af8?page=69"> Improvements to International Financial Reporting</a> <a title="SCA_AnnualReport_2009_English.pdf page 70" href="http://viewer.zmags.com/publication/f47e8af8?page=70"> Financial statements Notes Note 1 CoNt. IMPAI</a> <a title="SCA_AnnualReport_2009_English.pdf page 71" href="http://viewer.zmags.com/publication/f47e8af8?page=71"> Recognition and derecognition from the balance sh</a> <a title="SCA_AnnualReport_2009_English.pdf page 72" href="http://viewer.zmags.com/publication/f47e8af8?page=72"> Financial statements Notes Note 1 CoNt. eMPLo</a> <a title="SCA_AnnualReport_2009_English.pdf page 73" href="http://viewer.zmags.com/publication/f47e8af8?page=73"> Financial statements </a> <a title="SCA_AnnualReport_2009_English.pdf page 74" href="http://viewer.zmags.com/publication/f47e8af8?page=74"> Financial statements Notes Note 3 CoNt. DIVeS</a> <a title="SCA_AnnualReport_2009_English.pdf page 75" href="http://viewer.zmags.com/publication/f47e8af8?page=75"> Financial statements </a> <a title="SCA_AnnualReport_2009_English.pdf page 76" href="http://viewer.zmags.com/publication/f47e8af8?page=76"> Financial statements Notes Note 5 CoNt. </a> <a title="SCA_AnnualReport_2009_English.pdf page 77" href="http://viewer.zmags.com/publication/f47e8af8?page=77"> Note 6 PeRSoNNeL AND BoARD CoStS Personnel costs</a> <a title="SCA_AnnualReport_2009_English.pdf page 78" href="http://viewer.zmags.com/publication/f47e8af8?page=78"> Financial statements Notes Note 6 CoNt. Other</a> <a title="SCA_AnnualReport_2009_English.pdf page 79" href="http://viewer.zmags.com/publication/f47e8af8?page=79"> Financial statements </a> <a title="SCA_AnnualReport_2009_English.pdf page 80" href="http://viewer.zmags.com/publication/f47e8af8?page=80"> Financial statements Notes 7 DePRe</a> <a title="SCA_AnnualReport_2009_English.pdf page 81" href="http://viewer.zmags.com/publication/f47e8af8?page=81"> Note 9 tAXeS tax expense SeKm </a> <a title="SCA_AnnualReport_2009_English.pdf page 82" href="http://viewer.zmags.com/publication/f47e8af8?page=82"> Financial statements Notes Note 10 INtANGIBLe </a> <a title="SCA_AnnualReport_2009_English.pdf page 83" href="http://viewer.zmags.com/publication/f47e8af8?page=83"> Financial statements </a> <a title="SCA_AnnualReport_2009_English.pdf page 84" href="http://viewer.zmags.com/publication/f47e8af8?page=84"> Financial statements Notes Note 12 BIoLoGICAL </a> <a title="SCA_AnnualReport_2009_English.pdf page 85" href="http://viewer.zmags.com/publication/f47e8af8?page=85"> NOTe 13 HOLDINGS IN ASSOCIATeS SeKm </a> <a title="SCA_AnnualReport_2009_English.pdf page 86" href="http://viewer.zmags.com/publication/f47e8af8?page=86"> Financial statements Notes NOTe 16 LIST OF MAJ</a> <a title="SCA_AnnualReport_2009_English.pdf page 87" href="http://viewer.zmags.com/publication/f47e8af8?page=87"> Financial statements </a> <a title="SCA_AnnualReport_2009_English.pdf page 88" href="http://viewer.zmags.com/publication/f47e8af8?page=88"> Financial statements Notes NOTe 18 DeRIVATIVeS</a> <a title="SCA_AnnualReport_2009_English.pdf page 89" href="http://viewer.zmags.com/publication/f47e8af8?page=89"> NOTe 19 INVeNTORIeS SeKm </a> <a title="SCA_AnnualReport_2009_English.pdf page 90" href="http://viewer.zmags.com/publication/f47e8af8?page=90"> Financial statements Notes NOTe 24 eQUITY </a> <a title="SCA_AnnualReport_2009_English.pdf page 91" href="http://viewer.zmags.com/publication/f47e8af8?page=91"> Financial statements </a> <a title="SCA_AnnualReport_2009_English.pdf page 92" href="http://viewer.zmags.com/publication/f47e8af8?page=92"> Financial statements Notes NOTe 25 FINANCIAL L</a> <a title="SCA_AnnualReport_2009_English.pdf page 93" href="http://viewer.zmags.com/publication/f47e8af8?page=93"> NOTe 26 PROVISIONS FOR PeNSIONS SCA has both defi</a> <a title="SCA_AnnualReport_2009_English.pdf page 94" href="http://viewer.zmags.com/publication/f47e8af8?page=94"> Financial statements Notes NOTe 26 CONT. The </a> <a title="SCA_AnnualReport_2009_English.pdf page 95" href="http://viewer.zmags.com/publication/f47e8af8?page=95"> Financial statements </a> <a title="SCA_AnnualReport_2009_English.pdf page 96" href="http://viewer.zmags.com/publication/f47e8af8?page=96"> Financial statements Notes NOTe 31 FINANCIAL I</a> <a title="SCA_AnnualReport_2009_English.pdf page 97" href="http://viewer.zmags.com/publication/f47e8af8?page=97"> NOTe 32 CONTINGeNT LIABILITIeS SeKm </a> <a title="SCA_AnnualReport_2009_English.pdf page 98" href="http://viewer.zmags.com/publication/f47e8af8?page=98"> Financial statements Notes Notes – Parent Com</a> <a title="SCA_AnnualReport_2009_English.pdf page 99" href="http://viewer.zmags.com/publication/f47e8af8?page=99"> Financial statements </a> <a title="SCA_AnnualReport_2009_English.pdf page 100" href="http://viewer.zmags.com/publication/f47e8af8?page=100"> Financial statements Notes Note 42 SHAReS Sub</a> <a title="SCA_AnnualReport_2009_English.pdf page 101" href="http://viewer.zmags.com/publication/f47e8af8?page=101"> Note 47 NoN-CURReNt INteReSt-BeARING LIABILItIeS </a> <a title="SCA_AnnualReport_2009_English.pdf page 102" href="http://viewer.zmags.com/publication/f47e8af8?page=102"> Financial statements Proposed distribution </a> <a title="SCA_AnnualReport_2009_English.pdf page 103" href="http://viewer.zmags.com/publication/f47e8af8?page=103"> Financial statements Audit report To the A</a> <a title="SCA_AnnualReport_2009_English.pdf page 104" href="http://viewer.zmags.com/publication/f47e8af8?page=104"> SCA Data Multi-year summary SEKm INCOME STA</a> <a title="SCA_AnnualReport_2009_English.pdf page 105" href="http://viewer.zmags.com/publication/f47e8af8?page=105"> SCA Data Comments to the multi-year summary</a> <a title="SCA_AnnualReport_2009_English.pdf page 106" href="http://viewer.zmags.com/publication/f47e8af8?page=106"> SCA Data Description of costs SCA Group </a> <a title="SCA_AnnualReport_2009_English.pdf page 107" href="http://viewer.zmags.com/publication/f47e8af8?page=107"> SCA Data Production capacity (Capacity is s</a> <a title="SCA_AnnualReport_2009_English.pdf page 108" href="http://viewer.zmags.com/publication/f47e8af8?page=108"> SCA Data Definitions and key ratios1) Capi</a> <a title="SCA_AnnualReport_2009_English.pdf page 109" href="http://viewer.zmags.com/publication/f47e8af8?page=109"> Annual General Meeting and Nomination Committee </a> <a title="SCA_AnnualReport_2009_English.pdf page 110" href="http://viewer.zmags.com/publication/f47e8af8?page=110"> </a>