Metsä Group’s sales in January–September 2023 were Euro 4,624.3 million, compared to Euro 5,238.8 million in January–September 2022.
The comparable operating result was Euro 430.8 million, or 9.3% of sales. Reasons for the weaker operating result include the drop in delivery volumes and the increase in variable costs.
Metsä Group’s operating result (IFRS) was Euro 443.1 million. The share of the results of associated companies and joint ventures was Euro -2.0 million, financial income was Euro 32.9 million, exchange rate differences in financing were Euro -3.2 million, and financial expenses totalled Euro 32.6 million.
President and CEO Ilkka Hämälä said: “As anticipated, our Q3 performance was poorer than in the previous quarter and the comparison period, and the level of results was weak overall. The key factors affecting the result were the continued low demand in Europe and the increased import of Chinese paperboard in the eastern Mediterranean region. The third quarter saw the launch of production at the new Kemi bioproduct mill as well as the investment shutdown required for the Husum paperboard production line’s expansion investment, both of which increased fixed costs in the period. In Asia, the demand for softwood pulp has continued at a normal level, and the price level began to increase in the Q3. During 2023, softwood pulp capacity has been shut down in North America and Europe. In Europe, demand for folding boxboard and premium linerboard remains below the normal level. In North America, demand was slightly more active than in Europe”.
Metsä Group's comparable operating result for October–December 2023 is estimated to be at the same level as in July–September 2023.
Metsä Group produces renewable products from northern forests that replace the use of fossil raw materials.
