Total U.S. Packaging Papers & Specialty Packaging Shipments Essentially Flat in July 2023

The company reported net sales of $429.7 million for the second quarter of 2017, down 1.6% compared to net sales of $436.7 million for the second quarter of 2016. Net earnings determined in accordance with generally accepted accounting principles, or GAAP, for the second quarter of 2017 were $8.0 million, or $0.48 per diluted share, compared to net earnings of $20.9 million, or $1.21 per diluted share, for the second quarter of 2016.

Ensuring that vaccine vials and their potentially life-changing contents remain safe, sterile and identifiable throughout their tightly controlled supply chain is no easy task, and taking risks is not an option. With the new extended 360 Service offering, Metsä Board, part of Metsä Group, is testing the paperboards and simulating packaging designs used by pharma manufacturers to package and protect vaccine doses, providing absolute confidence that the materials are up to the task. COVID-19 and other vaccines are typically stored and transported in extremely cold conditions, which can be as low as -70 degrees Celsius, before being thawed out ready for administration. The secondary paperboard packaging must be able to withstand these temperature extremes and protect the vials throughout the entire process. When a converter is producing packages for cold-chain transportation they have to be 100% certain that the materials they are using are appropriate. This is where Metsä Board’s in-depth testing and simulation capabilities are extremely valuable for the pharma industry.

• Q2 ahead of Q2 2023 • Half-year financial results below previous year due to pricing • Cash flow significantly improved • Strong volume increase in Board & Paper • For more transparency Packaging from now on reported as two divisions: MM Food & Premium Packaging and MM Pharma & Healthcare Packaging • Solid performance in Packaging divisions • Considerable reduction of carbon footprint vs. 1st HY 2023. Peter Oswald, MM CEO, comments: “The MM Group succeeded in improving its adjusted EBITDA and adjusted operating profit in the 2nd quarter compared to both the previous two quarters as well as last year’s 2nd quarter. The consistent execution of the profit & cash protection programme led to a significant increase in cash flow from operating activities and free cash flow. At the same time, the Group’s financial leverage remained largely constant.