Metsä Board scores 91/100 and Platinum level in EcoVadis rating

The lives of consumers around the world were upended by the COVID-19 pandemic. Norms around work, school, travel and socialization changed virtually overnight. Eating habits also became fundamentally different, with a greater number of consumers cooking from home and eating healthier. The ability to physically visit retail stores also changed beyond recognition, and as a result e-commerce and direct-to-consumer models – which were already gaining huge traction pre-pandemic – accelerated rapidly in terms of sales. According to Euromonitor, online grocery is one of the most significant trends to emerge in the packaged food industry due to stay-at-home rules. Many major brands are prioritizing this channel within their corporate strategies having recognized the fact that its forward momentum is unlikely to ease. E-commerce is set to be the fastest growing channel as we continue to battle with COVID-19, and metal packaging is perfectly suited to the needs of both the consumer and the supply chain. *Retail value sales of the packaged food industry grew by 4.6% in 2020, compared to 1.7% in 2019 *The imposed stay-at-home rules, resulted in food sales from foodservice and institutional channels shifting to the home with a benefit to the retail channel *This, together with the essential nature of the food industry, has meant strong performance in 2020. [1]

Net sales in the second quarter of 2020 were $1.4 billion, compared to $1.8 billion in the second quarter of 2019. Average selling prices improved approximately 1 percent and increased revenue $18 million. However, lower shipments due to the pandemic negatively impacted sales by $255 million. Unfavorable foreign currency translation reduced net sales by $88 million. Segment operating profit1 was $95 million in the quarter, compared with $236 million in the same period of 2019. Current year profits were impacted $6 million by unfavorable foreign currency translation. The benefit of higher selling prices more than offset incremental cost inflation by $1 million. Reflecting the impact of the pandemic, sales volume in tons declined approximately 15 percent from the prior year quarter and negatively impacted segment operating profit by $84 million. Segment operating profit was negatively impacted by $52 million as lower production levels were partially offset by improved operating performance and cost control efforts. Production levels were down approximately 20 percent from the second quarter of 2019 reflecting required curtailment to comply with government decrees to manage the pandemic, including disruptive lock downs in Mexico and the Andean countries, as well as the company’s effort to align supply with lower demand and manage inventory.

Waddington North America™ (WNA), a Novolex® brand, announced today that it has been awarded a new patent for Cutlerease®, an innovative dispenser that offers customers one disposable utensil at a time. Thanks to the patent, Novolex can now offer customers the opportunity to lease or buy Cutlerease dispensers — making it even easier for foodservice establishments to enjoy its many benefits. The unique system cuts waste, reduces the spread of germs, saves space and provides guests with a more convenient way to get utensils. Customers simply withdraw the utensil from the dispenser by pulling on the handle of the spoon, fork or knife that they want. After the utensil is removed, another pops out, ready for the next guest.