January–March 2024 (1–3/2023):
*Sales were EUR 1,457 million (1,634).
*Operating result was EUR 58 million (276). Comparable operating result was EUR 70 million (276).
Events during the first quarter of 2024:
*The average sales prices of Metsä Group’s long-fibre pulp increased in Europe and decreased slightly in China compared with the previous quarter.
*Demand for market pulp increased in Europe and North America. In China, demand remained at a good level.
*Demand for Metsä Group’s paperboards picked up substantially from the previous quarter. The average price of folding boxboard declined.
President and CEO Ilkka Hämälä:
For most of Metsä Group’s business areas, the market situation in the first quarter of 2024 was stronger than at the end of the previous year. Paperboard order inflows clearly improved from the low levels of the previous year, while the pulp price increased on the European market. Sawn timber prices increased, and the outlook for the second quarter strengthened. The markets for Kerto® LVL and birch plywood, as well as tissue and greaseproof papers, remained at a good level. In a situation promising budding growth and stronger demand, the four-week political strikes had a very significant impact on Metsä Group’s result. The majority of Metsä Group’s 21 mills in Finland were shut down for 2–3 weeks due to the port strike and the strike affecting rail goods transport. The result effect is expected to total EUR 60 million, EUR 20 million of which is allocated to the second quarter. Metsä Group commands a globally significant position as a soft-wood pulp supplier and a seller of premium folding boxboard and linerboards to European and North American customers. The long political strike will seriously affect customer relationships. Such irresponsible behaviour on the trade unions’ part undermines opportunities to develop Finnish industry in the long term.
more at: https://www.metsagroup.com/news-and-publications/news/2024/metsa-groups-comparable-operating-result-in-januarymarch-2024-was-eur-70-million/