Metsä Board’s comparable operating result in 2024 January–September was EUR 73 million

Metsä Board’s CEO Mika Joukio: ”In 2024, demand for fresh fibre paperboards has clearly improved from last year’s record-low level, although demand growth has been somewhat slower than expected. At the beginning of the year, demand was boosted by restocking in the value chain, which levelled out towards the end of the first half. In July–September, the demand and price situation for paperboards was similar to the previous quarter. Due to higher living costs, consumers’ purchasing behaviour remained relatively cautious, and consumption is more focused on services than on products.

Metsä Board’s first half was overshadowed by the political strikes in Finland and the gas explosion at Metsä Fibre’s Kemi bioproduct mill. These caused us large production and sales losses and significant additional costs. We expect the negative impact on the operating result to total EUR 65 million, including the impact of Metsä Fibre’s share of the result. The July–September result includes EUR 23 million in insurance compensation related to the gas explosion in Kemi. Negotiations with the insurance consortium are still ongoing.
details at: https://www.metsagroup.com/metsaboard/news-and-publications/news/2024/metsa-boards-comparable-operating-result-in-2024-januaryseptember-was-eur-73-million/

Related Posts

Apollo Funds Complete Acquisition of Majority Stake in Novolex

Apollo announced that funds managed by Apollo affiliates (the “Apollo Funds”) have completed the acquisition of a majority stake in Novolex Holdings LLC (“Novolex” or the “Company”), a leading global manufacturer of diverse and sustainable packaging products for the foodservice, delivery and carryout, food processor and industrial markets, from funds managed by Carlyle (NASDAQ: CG). Carlyle will retain a minority stake in the Company. The financing for the acquisition includes the largest-ever sustainability-linked loan issued to date. Additional financial terms of the transaction were not disclosed.

Huhtamaki completes the asset acquisition of Jiangsu Hihio-Art Packaging Co. Ltd. in China

Huhtamaki has completed the acquisition of Jiangsu Hihio-Art Packaging Co. Ltd.’s assets. Jiangsu Hihio-Art Packaging is a privately owned manufacturer of paper bags, wraps and folding carton packaging in China. The acquisition strengthens Huhtamaki’s position as the leading foodservice packaging provider in Asia and expands its product portfolio allowing it to better serve both existing and new customers in China. Huhtamaki now has approximately 850 employees across four manufacturing units in China, with Hihio-Art Packaging Co. Ltd.’s approximately 200 employees joining as Huhtamaki employees at the newly established Huhtamaki Foodservice (Xuzhou) Limited. The net sales of the acquired business were approximately EUR 20 million in 2020. The debt free purchase price was EUR 27 million. The acquired business is incorporated into and reports as part of the Foodservice Europe-Asia-Oceania reporting segment as of June 11, 2021.

BillerudKorsnäs relaunches coated white-top kraftliner for litho-laminated packaging

Pure Supreme is a well-established premium white-top kraftliner, optimized for offset printing. BillerudKorsnäs is now launching an upgraded version of Pure Supreme, which is more than a facelift – it could even be regarded as a new product. It offers excellent print results in terms of colour fidelity and lifelike image reproduction. Its strength and stiffness ensure high runnability, allowing for high-speed printing and converting processes. New Pure Supreme is the latest in a series of new products to come out of BillerudKorsnäs’ KM7, the world’s most modern board machine. The advanced technologies applied in KM7 have made it possible to combine several valuable product properties: printability, strength, stiffness, appearance, consistency, and purity. Like all BillerudKorsnäs products, Pure Supreme is made of 100% pure and strong primary wood fibres, sourced from responsibly managed forests. With the high capacity of KM7 – 550,000 tons/year – global availability is high.
Back To Top
×Close search
Search