January–March 2020 (compared to 1–3/2019)
- Sales were EUR 472.1 million (487.1).
- Comparable operating result was EUR 33.8 million (61.8), or 7.2% (12.7%) of sales. Operating result was EUR 33.8 million (71.9).
- Comparable earnings per share were EUR 0.06 (0.14), and earnings per share were EUR 0.06 (0.17).
- Comparable return on capital employed was 7.6% (14.4%).
- Net cash flow from operations was EUR 80.0 million (36.4).
As of the first quarter of 2020, the development of the reported quarter in Metsä Board’s interim report is compared to the corresponding quarter of the previous year. The reported review period will continue to be compared to the corresponding review period of the previous year.
Impacts from Covid-19 on Metsä Board’s business
The coronavirus pandemic has temporarily increased demand for pure and safe packaging materials, and the order inflows of Metsä Board’s paperboards have grown. In delivery logistics, there have been occasional capacity bottlenecks.
So far, the coronavirus has not had an impact on the production of Metsä Board’s mills. To minimise physical contact, the scope of the annual maintenance of mills scheduled for the second quarter of the year have been scaled down and partly postponed.
Metsä Board’s financial position is good. The maturity profile of the loans is healthy and the company’s liquidity is adequate. The pre-engineering phase of the renewal of the Husum pulp mill and the investment’s preparatory construction work are progressing according to plan.
The company has at its disposal substantial precautionary measures aiming to ensure the health and safety of the personnel and the continuity of the business. Despite the precautionary measures, a prolonged pandemic could lead to disruptions in production and/or the supply chain. The weakening of the world economy attributable to the pandemic is also likely to reduce demand for Metsä Board’s products and thereby have a negative impact on the company’s profitability.
Source: Metsä Board