Result for the first quarter of 2012: Sales amounted to EUR 1,284 million (1–3/2011: EUR 1,403 million).  Operating result excluding non-recurring items was EUR 52 million (130). Operating result including non-recurring items was EUR 44 million (133).  Result before taxes and excluding non-recurring items was EUR 18 million (86). Result before taxes including non-recurring items was EUR 10 million (89).

Events in the first quarter: Metsäliitto Group changed its name to Metsä Group and adopted a new corporate identity. Wood Products Industry is now Metsä Wood, Metsä-Botnia is Metsä Fibre and M-real is Metsä Board. The name of Metsä Tissue remained unchanged. Metsäliitto Cooperative’s Wood Supply is now Metsäliitto Puunhankinta in Finland and Metsä Forest internationally.  A new investment product, Equity Bonus, has been available to owner-members of Metsäliitto Cooperative from the beginning of the year.  The unprofitable operations of Metsä Board’s Gohrsmühle mill were discontinued and the Alizay mill in France was closed down.  Metsä Board sold the Premium Paper business operations of the Reflex mill to Hahnemühle FineArt GmbH.