Metsä Board’s comparable operating result in 2023 January–June was EUR 116 million

January–June 2023 (compared to 1–6/2022)
*Sales were EUR 1,040.2 million (1,232.5).
*The comparable operating result was EUR 116.0 million 267.4), or 11.2% of sales (21.7). Operating result was EUR 117.9 million (283.3).
*Comparable earnings per share were EUR 0.24 (0.57), and earnings per share were EUR 0.25 (0.61).
*Comparable return on capital employed was 9.3 % (23.0).
*Net cash flow from operations was EUR 142.0 million (95.3).

April–June 2023 (compared to 4–6/2022)
*Sales were EUR 498.2 million (650.5).
*The comparable operating result was EUR 27.3 million (145.9), or 5.5% (22.4) of sales. Operating result was EUR 29.5 million (142.6).
*Comparable earnings per share were EUR 0.05 (0.31), and earnings per share were EUR 0.06 (0.30).
*Comparable return on capital employed was 4.6% (25.0).
*Net cash flow from operations was EUR 15.6 million (2.7).

The average price of Metsä Board’s paperboards remained stable compared with the previous quarter and improved clearly compared to the corresponding period last year.

The demand for fresh fibre paperboards declined due to the decreasing demand for consumer products and the adjustments made to inventories in the value chain.

Metsä Board strongly adjusted its paperboard, pulp and BCTMP production to match demand. Production volumes were clearly below capacity levels. The associated company Metsä Fibre also adjusted its pulp production.

The global market situation for pulp weakened. In Europe, the demand for pulp has quickly decreased following the production curtailments imposed on paperboard and especially on paper. The market prices for pulp (PIX) decreased from the previous quarter in both Europe and China.

On 17 May 2023, Metsä Board initiated change negotiations on possible temporary layoffs at all its mills in Finland.

Metsä Board achieved the highest level, Platinum, in Ecovadis’s sustainability evaluation.
details at: https://www.metsagroup.com/metsaboard/news-and-publications/news/2023/metsa-boards-comparable-operating-result-in-2023-januaryjune-was-eur-116-million/

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