Metsä Board’s comparable operating result in 2021 was EUR 387 million

January–December 2021 (compared to 1–12/2020)
• Sales were EUR 2,084.1 million (1,889.5).
• Comparable operating result was EUR 386.6 million (221.2), or 18.6% (11.7) of sales. Operating result was EUR 375.9 million (227.3).
• Comparable earnings per share were EUR 0.85 (0.46), and earnings per share were EUR 0.82 (0.48).
• Comparable return on capital employed was EUR 18.7% (12.2).
• Net cash flow from operations was EUR 329.6 million (307.7).

October–December 2021 (compared to 10–12/2020)
• Sales were EUR 518.5 million (473.1).
• Comparable operating result was EUR 91.3 million (64.5), or 17.6% (13.6) of sales. Operating result was EUR 90.8 million (64.5).
• Comparable earnings per share were EUR 0.20 (0.14), and earnings per share were EUR 0.19 (0.14).
• Comparable return on capital employed was 16.1% (14.3).
• Net cash flow from operations was EUR 119.7 million (81.0).

Metsä Board’s CEO Mika Joukio:
“The fourth quarter of the year was in line with our expectations. The demand for sustainable fresh fibre paperboards remained good on all markets important for us and the average prices of our paperboards improved. The comparable operating result in October–December was EUR 91.3 million, or 17.6% of sales. The excellent result was also visible in the cash flow from operations, which was EUR 120 million in October–December. The coronavirus situation grew weaker towards the end of the year in all the countries in which we operate, but thanks to our strict safety measures, our business operations continued without any disruptions.

Year 2021 was the best year ever for us. Our profitability was at a record high level, supported by the strong paperboard business. The prices of market pulp also increased, and our associated company Metsä Fibre’s share of the result improved significantly from the previous year. Our long-term financial targets were clearly met: our comparable return on capital employed was 18.7% and the ratio of the comparable EBITDA to our net debt was negative. These results are excellent, given that profitability was simultaneously burdened by drastic cost inflation affecting particularly energy, chemicals and logistics.

Our strong balance sheet provides a solid platform for our ongoing investments. In 2021, we decided on in-vestments that will sustainably expand our paperboard business: at Husum, we will increase the annual capacity for folding boxboard by 200,000 tonnes, and in Kemi, the capacity for white kraftliner by 40,000 tonnes. The new recovery boiler and turbine which will be started up at the Husum pulp mill in the early autumn will significantly increase our self-sufficiency in electricity production. This will further improve Husum’s position as a sustainable platform for the development of high-quality paperboard production.
more at: https://www.metsaboard.com/Media/Stock-Exchange-and-Press-Releases/Pages/Release.aspx?EncryptedId=3D0E5D0D25312DF8&Title=MetsaBoardscomparableoperatingresultin2021wasEUR387million

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