Metsä Board Corporation Interim Report 1 January – 31 March 2015

Result for the first quarter of 2015
• Sales were EUR 525.7 million (Q1/2014: 501.2).
• Operating result excluding non-recurring items was EUR 43.2 million (36.1). Operating result including non-recurring items was EUR 43.1 million (43.5).
• Result before taxes excluding non-recurring items was EUR 32.3 million (20.8). Result before taxes including non-recurring items was EUR 32.2 million (26.0).

Events during the first quarter of 2015
• The demand for paperboard continued to be at a good level, and the delivery volumes increased from the previous quarter. The prices were stable.
• Metsä Board’s Board of Directors made a decision on a share issue of approximately EUR 100 million on 26 February. The subscription period of the share issue began on 5 March and ended on 23 March. A total of 38,227,779 B-series shares were subscribed for in the share issue, corresponding to 139.8 per cent of the 27,347,134 B-series shares offered. The funds received from the share issue will be used to finance the final steps of transformation to a paperboard company.
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