Metsä Group’s comparable operating result in 2021 was EUR 914 million

JANUARY–DECEMBER 2021 (1–12/2020)
•Sales were EUR 6,017 million (5,055).
•Operating result was EUR 874 million (376). Comparable operating result was EUR 914 million (368).
•Result before taxes was EUR 832 million (330). Comparable result before taxes was EUR 872 million (322).
•Comparable return on capital employed was 16.2% (7.1).
•Net cash flow from operations was EUR 1,023 million (667).

OCTOBER–DECEMBER 2021 (10–12/2020)
•Sales were EUR 1,560 million (1,357).
•Operating result was EUR 221 million (97). Comparable operating result was EUR 220 million (94).
•Result before taxes was EUR 215 million (88). Comparable result before taxes was EUR 214 million (86).
•Comparable return on capital employed was 14.7% (7.4).
•Net cash flow from operations was EUR 427 million (306).

President and CEO Ilkka Hämälä:
“Metsä Group’s result for 2021 was excellent. It was supported by the paperboard market which remained strong during the fourth quarter, and in China, by the price and delivery volume of pulp which began to rise again. The coronavirus pandemic was present in the Group’s operations on every day of the year. Work at the mills was carried out according to special arrangements, and remote working was adopted as extensively as possible. The personnel performed their duties in an exemplary fashion, and work continued according to plans, with no disruptions.

The effects of the pandemic were visible in the markets in many ways. The economic stimulus measures activated construction operations and were a significant factor in the increased demand for sawn timber and engineered wood products. Besides the changes in consumer behaviour during the pandemic, the paperboard industry was impacted by the growth in food packaging, and in packaging materials, by the transition from plastics to fibre packaging and the use of fresh fibre, especially in the food segment. The tissue paper industry saw the effect that the restriction measures of societies had on public spaces’ tissue paper demand early in the year. During the second half of the year, the drastic increases in energy prices in Europe deprived Metsä Tissue of its chance for profitable operations.

The Group’s important investment projects and information system modernisation projects proceeded largely as planned, although cost inflation in construction materials and steel raised the cost estimates of Metsä Fibre’s and Metsä Board’s investments.

The global megatrends – urbanisation; demographic changes; economic growth, particularly in developing economies; and the transition from a fossil-based economy to renewable materials – guiding the Group’s business operations supported the result in 2021 and will steer the development of our business in the years to come.”
more at: https://www.metsagroup.com/en/media/all-news/Pages/News.aspx?EncryptedId=70E413E35A1B2DB9&Title=MetsaGroupscomparableoperatingresultin2021wasEUR914million

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