Metsä Group’s comparable operating result in January–June 2020 was EUR 158 million

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January–June 2020 (​​​​1–6/2019)

  • Sales were EUR 2,453 million (2,809).

  • Operating result was EUR 163 million (232). Comparable operating result was EUR 158 million (308).

  • Result before taxes was EUR 139 million (202). The comparable result before taxes was EUR 134 million (279).

  • Comparable return on capital employed was 6.2% (12.1).

  • Cash flow from operations was EUR 240 million (183).
     

April–June 2020 (4–6/2019)
 

  • Sales were EUR 1,200 million (1,372). 
  • Operating result was EUR 102 million (49). Comparable operating result was EUR 96 million (128).

  • Result before taxes was EUR 93 million (36). The comparable result before taxes was EUR 86 million (115).

  • Comparable return on capital employed was 7.6% (10.2).

  • Cash flow from operations was EUR 190 million (142).

Events during the second quarter of 2020

  • The average dollar-denominated market price of long-fibre pulp increased slightly and that of short-fibre pulp remained stable compared to the previous quarter. The prices were nevertheless clearly lower than in the corresponding period last year.

  • Paperboard deliveries increased year-on-year, and prices remained relatively stable.

  • The pre-engineering project concerning the Kemi bioproduct mill progressed as planned. The supplemented version of the environmental permit application was submitted to the authorities in April. Preliminary agreements have been signed on the mill’s main equipment, automation systems, electrical systems, project management, implementation planning and construction.

  • Earthworks of the Rauma sawmill has begun. During the second quarter, agreements were also signed on the main equipment, earthworks and construction engineering work.

  • Annual maintenance shutdowns at the mills were postponed until the second half of the year because of the coronavirus pandemic.

The Coronavirus Pandemic

Metsä Group has three key priorities in its operations when it comes to stopping the coronavirus pandemic: personnel safety, full participation in fighting the pandemic as part of society and ensuring business continuity. Metsä Group follows and complies with the guidelines issued by the authorities with regard to the coronavirus. Avoiding physical contact is the most important precautionary measure.

Metsä Group’s resource situation has remained normal during the coronavirus pandemic. Infection chains have been prevented through strict safety measures. Production and deliveries have run normally, with the exception of operations of the units in Great Britain, Svir sawmill in Russia as well as the Russian wood supply.

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Source: Metsä Group