Metsä Group’s comparable operating result in January–September 2024 was EUR 170 million

President and CEO Ilkka Hämälä: The economy continued to be weak in the third quarter of 2024. In the wood market, trade was normal, and prices remained at a record high, compared with figures across the last two decades. A high cost level combined with low demand across the board resulted in a weak result for the third quarter. The quarterly result was significantly improved by the business interruption insurance compensation for the accident at the Kemi bioproduct mill, which was allocated to the first half. Negotiations on the final insurance compensation are still underway, but EUR 67 million in compensation was recorded for the third quarter.

The slowdown in the construction industry continues, and there are no signs of a change in the demand for sawn timber and plywood. Demand for Kerto® LVL has remained strong, proving the product’s competitiveness in construction industry solutions.

In China, the pulp market picked up in September, and prices began to gradually increase in softwood pulp trade. Demand remained stable in the European pulp market even though prices continued to decrease, still remaining higher than the price level in Asia. In Europe, the paperboard market continues to be affected by Asian paperboard imports to regions neighbouring the EU such as Türkiye. In the US, the market situation has remained slightly stronger than in Europe. As is typical of consumer products, demand for tissue papers has been stable, and profitability has remained at a reasonable level.
details at: https://www.metsagroup.com/news-and-publications/news/2024/metsa-groups-comparable-operating-result-in-januaryseptember-2024-was-eur-170-million/

Related Posts

WestRock Reports Fiscal 2021 First Quarter Results

Notable items in the first quarter of fiscal 2021 include: *Net sales of $4.4 billion were essentially flat compared to the pre-pandemic prior year quarter *Total packaging shipments increased 5%; record North American per day box shipments that increased 8% compared to the prior year quarter *Successfully started up the Company’s new 330” state-of-the-art paper machine in Florence, South Carolina; the machine’s 710k tons of annual capacity replaces three old machines *Distributed COVID-19 relief payments to employees totaling $22 million; these payments are not included in the Company's adjusted earnings per diluted share for the quarter *Generated net cash provided by operating activities of $719 million and Adjusted Free Cash Flow of $562 million compared to $431 million and $79 million, respectively, in the prior year quarter

Preem and RenFuel to create the world’s first lignin plant for biofuels

Preem and RenFuel are assessing, in collaboration with Rottneros, the construction of the world’s first lignin plant for biofuels, at the pulp mill in Vallvik, Söderhamn. The plant is expected to produce an annual volume of 25,000-30,000 tonnes of lignin, and will be completed in 2021. The collaboration between the companies means that Preem will be the first fuel manufacturer in Sweden to use lignin in its production. Via the company Lignolproduktion AB, which is jointly owned by Preem and RenFuel, the aim is to reach a total annual production capacity of 300,000-500,000 tonnes of lignin, based on the assumption that more plants similar to that in Vallvik are established in the future. Click Read More below for additional information.

Mactac Acquired Duramark Products Inc., FKA Ritrama USA

Mactac® announced that it has acquired Duramark Products Inc., previously known as Ritrama USA. The acquisition consists of the company’s Minneapolis, Minnesota, and Moore, South Carolina, facilities, including its new world-class coaters and advanced automation technologies. Both locations will be rebranded under the Mactac name, creating one of the largest, most diversified pressure-sensitive adhesive (PSA) suppliers in North America. “We are thrilled to make this announcement and to maximize Duramark Products’ recent investments in state-of-the-art equipment and processes,” said Ed LaForge, president, and CEO of Mactac. “We will leverage our experience and established network to help both locations reach their full potential, bringing much-needed product diversification and capacity to the industry.” Mactac’s continued focus on market growth and its diverse account base led to a need to strategically expand operations. With this significant investment, Mactac is affirming its continued commitment to expanding its technology, capacity, and adhesive formulation capabilities to be a full-service resource for customers.
Back To Top
×Close search
Search