Metsä Board’s comparable operating result for the third quarter of 2020 is better than previously estimated

Metsä Board’s, part of Metsä Group, comparable operating result for the third quarter of 2020 is better than the company’s result guidance issued on July 30, 2020.

The result guidance in Metsä Board’s January–June 2020 half-year financial report was: “Metsä Board’s comparable operating result for the third quarter of 2020 is expected to weaken compared to the second quarter of 2020.”

The comparable operating result for the second quarter of 2020 was EUR 60.5 million. The comparable operating result for the third quarter of 2020 is estimated to be approximately EUR 62 million.

The negative impacts of the corona pandemic on the company’s business have so far been smaller than expected. Metsä Board’s fresh fibre paperboards are widely used in food and pharmaceutical packaging as well as in various retail packaging solutions. Demand for these products has remained good. Metsä Board’s paperboard deliveries in the third quarter remained approximately at the level of the second quarter and prices were stable. The total costs were lower than estimated, and negative profit impact from the annual maintenance shutdowns in September were at the lower end of the estimate range. The result of the associated company Metsä Fibre, of which Metsä Board owns 24.9 per cent, was supported by the pick-up in the Chinese pulp market.

Metsä Board will publish its interim report for January–September 2020 on 29 October 2020 at 12:00 EET. The report will include the result guidance for the fourth quarter of 2020.
https://www.metsaboard.com/Media/Stock-Exchange-and-Press-Releases/Pages/Release.aspx?EncryptedId=7A72AD84D3F7641D&Title=MetsaBoardscomparableoperatingresultforthethirdquarterof2020isbetterthanpreviouslyestimated

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