Metsä Group Half-year financial report 2019 1 August 2019 at 12:00 noon EEST
January–June 2019 (1–6/2018)
- Sales were EUR 2,809 million (2,904).
- Operating result was EUR 232 million (412). Comparable operating result was EUR 308 million (418).
- Result before tax was EUR 202 million (368). Comparable result before tax was EUR 279 million (374).
- Comparable return on capital employed was 12.1% (16.9).
- Cash flow from operations was EUR 183 million (276).
April–June 2019 (4–6/2018)
- Sales were EUR 1,372 million (1,477).
- Operating result was EUR 49 million (204). Comparable operating result was EUR 128 million (210).
- Result before tax was EUR 36 million (184). Comparable result before tax was EUR 115 million (189).
- Comparable return on capital employed was 10.2% (17.0).
- Cash flow from operations was EUR 142 million (242).
Events during the second quarter of 2019
- The prices of long-fibre pulp decreased by 9% and of short-fibre pulp by 6% in Europe compared with Q1. In China, the prices decreased by around 4%.
- The prices of folding boxboard were stable. Changes in the sales mix had a negative effect on the average price of white kraftliner.
- Total deliveries of paperboard increased slightly from the previous quarter.
- Metsä Board establishes an excellence centre in Äänekoski. The centre will focus on paperboard and packaging innovation.
- Metsä Fibre started pre-engineering projects related to a new bioproduct mill in Kemi and a new pine sawmill in Rauma. Metsä Board started pre-engineering related to the first phase of the renewal of the Husum pulp mill.
- Metsä Wood’s new Kerto® LVL line, with an annual capacity of 65,000 cubic metres, started up at the Punkaharju mill in April. The mill was inaugurated in May.
- Metsä Tissue recognised an impairment loss of around EUR 102 million. This was mainly related to goodwill.
- Metsä Group’s new Nemus Futurum visitor centre was opened in Kirkniemi in Lohja in June.
Events after reporting period
Metsä Group’s innovation company, Metsä Spring, made an equity investment in Woodio Ltd, a leading developer of waterproof wood composite products.
Source: Metsä Group