Metsä Board’s comparable operating result in 2024January–June was EUR 31 million

April–June 2024 (compared to 4–6/2023)
*Sales were EUR 509.8 million (498.2).
*The comparable operating result was EUR -0.8 million (27.3), or -0.2% (5.5) of sales. Operating result was EUR -0.7 million (29.5).
*Comparable earnings per share were EUR -0.03 (0.05), and earnings per share were EUR -0.03 (0.06).
*Comparable return on capital employed was 0.3% (4.6).
*Net cash flow from operations was EUR -8.6 million (15.6).

Events in April–June 2024
*The demand and price situation for Metsä Board’s fresh fibre paperboards remained stable compared to the previous quarter. Delivery volumes increased slightly.
*The average prices of market pulp increased, especially in Europe.
*Metsä Board made an investment decision to renew the Simpele folding boxboard machine. The value of the investment is approximately EUR 60 million.
*On 21 March 2024, a gas explosion occurred at the evaporation plant of the associated company Metsä Fibre’s Kemi bioproduct mill, which also affected production at Metsä Board’s paperboard mill. The explosion’s negative impact on the operating result was around EUR 40 million, including the impact through Metsä Fibre’s share of the result. The claim settlement process to compensate financial losses has been initiated with the insurance consortium.
*Due to trade union strikes, Metsä Board’s paperboard and BCTMP production had to be halted for 2–3 weeks in March–April at all the mills in Finland. In the second quarter, the strikes’ negative impact on the operating result was approximately EUR 15 million (H1/2024: EUR 25 million), including the impact through Metsä Fibre’s share of the result.
details at: https://www.metsagroup.com/metsaboard/news-and-publications/news/2024/metsa-boards-comparable-operating-result-in-2024januaryjune-was-eur-31-million/

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