Metsä Board’s comparable operating result in January–June 2019 was EUR 103 million

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Metsä Board Corporation Half-Year Financial Report 1 January – 30 June 2019, 1 August 2019

January–June 2019 (1–6/2018)

• Sales were EUR 964.2 million (1,011.1).

• Comparable operating result was EUR 102.8 million (128.2), or 10.7% (12.7%) of sales. Operating result was EUR 118.3 million (122.6).

• Comparable earnings per share were EUR 0.23 (0.28), and earnings per share were EUR 0.27 (0.27).

Comparable return on capital employed was 11.7% (15.1%).

April–June 2019 (1–3/2019)

• Sales were EUR 477.1 million (487.1).

• Comparable operating result was EUR 41.0 million (61.8), or 8.6% (12.7%) of sales. Operating result was EUR 46.4 million (71.9).

• Comparable earnings per share were EUR 0.09 (0.14), and earnings per share were EUR 0.10 (0.17).

• Comparable return on capital employed was 9.7% (14.4%).

Events in April–June 2019

• Deliveries of paperboard increased slightly from the previous quarter.

• The prices of folding boxboard were stable. Changes in the sales mix had a negative effect on the average price of white kraftliner.

• The global decline in pulp prices had a clear negative impact on the result.

• Several annual maintenance shutdowns took place at Metsä Board’s mills in Finland during the second quarter, while there were no annual maintenance shutdowns at Metsä Board’s mills during the first quarter.

• Metsä Board renewed its folding boxboard portfolio and announced that it would establish an excellence centre focusing on paperboard and packaging innovations in Äänekoski.

• Metsä Board launched pre-engineering phase for an investment to renew the Husum pulp mill in Sweden in phases. The size of the first-phase investment would be approximately EUR 300 million.

• Metsä Board’s associated company Metsä Fibre launched pre-engineering phases for the construction of a new bioproduct mill in Kemi, Finland, and for the construction of a new pine sawmill in Rauma, Finland. If these investments are implemented, their total size would be around EUR 1.7 billion.

• Camilla Wikström, M.Sc. (Eng.), was appointed Metsä Board’s SVP, Human Resources and a member of the Corporate Management Team as of 1 June 2019.

Events after the review period

Metsä Board announced its sustainability targets for 2030. One of the company’s targets is to use only fossil-free energy at its own mills and in terms of purchased energy by 2030. More information about new sustainability targets is available at www.metsaboard.com/sustainability.

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Source: Metsä Board

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