On Metsä Group's performance in 2023, CEO Ilkka Hämälä acknowledges the significant challenges posed by a sluggish economy and tepid growth.
These hurdles were evident in the company's operational performance and overall results. Hämälä points out that the escalation of capital goods prices, a hangover from the strong growth witnessed in 2021 and 2022, further compounded the company's woes.
However, amidst these challenges, Hämälä remains buoyant about the long-term prospects of Metsä Group's products. He underscores the company's commitment to sustainability, highlighting the use of wood raw material from sustainably managed forests and resource-efficient manufacturing processes. These efforts, he believes, play a crucial role in addressing global resource scarcity.
The CEO also sheds light on the company's ambitious goal to achieve regenerative forestry by 2030, emphasizing the importance of biodiversity in mitigating the adverse effects of climate change.
Despite the gloomy economic backdrop, Hämälä points to positive developments within specific sectors. For instance, the increasing adoption of laminated veneer lumber (LVL) in industrial construction solutions, despite a downturn in the construction cycle, signifies the product's resilience and competitiveness. Plans for a new LVL mill further underscore Metsä Group's commitment to meeting demand in this segment.
The commissioning of the Kemi bioproduct mill in September marked a significant milestone for the company, leveraging modern technology and sustainable practices to bolster wood supply. Additionally, production expansion in paperboard further solidified Metsä Board's market leadership.
Investments in new tissue paper production lines and innovation projects reflect Metsä Group's unwavering commitment to sustainability and future growth. Hämälä reassures stakeholders of the company's steadfast dedication to meeting societal needs and shareholder expectations, underpinned by a strong financial position and competitiveness in its chosen markets.
