Metsä Board’s comparable operating result in January–March 2024 was EUR 32 million

January–March 2024 (compared to 1–3/2023):
*Sales were EUR 483.7 million (542.1).
*The comparable operating result was EUR 31.5 million (88.7), or 6.5% of sales (16.4). Operating result was EUR 23.0 million (88.4).

Events in January–March 2024:
*Demand for Metsä Board’s fresh fibre paperboards picked up notably from the previous quarter. The average price of folding boxboard decreased.
*Demand for market pulp was boosted by paper and paperboard producers’ higher capacity utilisation rates in Europe. The average prices of market pulp improved, especially in Europe.

Metsä Board’s CEO Mika Joukio:
“We had a positive start to 2024, with demand for fresh fibre paperboards picking up notably. Demand for paperboards has been boosted by restocking in the value chain and the normalisation of market balance, especially in Europe. We expect the positive momentum to continue in the coming months.

Due to the trade unions’ political strikes in March, we were forced to stop production at all our Finnish mills, as raw material transports to mills were halted and port closures prevented customer deliveries. Depending on the mill, the production shutdowns lasted for 2–3 weeks, taking place in March–April. Naturally, this was an unfortunate setback, as order inflows had just picked up after prolonged weak demand. We estimate that the strikes caused us profit losses of roughly EUR 25 million, around half of which were allocated to the first quarter.
Details at: https://www.metsagroup.com/metsaboard/news-and-publications/news/2024/metsa-boards-comparable-operating-result-in-januarymarch-2024-was-eur-32-million/

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