FEFCO announces that three scientific studies break the stereotypes on reusable packaging. “It is now scientifically proven that reuse should be considered on a case-by-case basis as it is not always the best environmental option. A peer-reviewed study shows that reusable packaging has a stronger impact on climate than recyclable corrugated. EU policies place a strong emphasis on the role of packaging in the circular economy and its design to be recycled and/or reused. Packaging exists for a reason; therefore, it is vital to consider packaging functionality, sustainability, and overall performance from a life-cycle perspective. The three studies released by FEFCO were conducted by an independent consultancy (Ramboll) and a research institute (VTT). The studies evaluate the impact of recyclable corrugated board packaging compared to reusable plastic packaging and revealed a series of important conclusions. These are available here on the dedicated FEFCO webpage.
January–December 2022 (compared to 1–12/2021):
Sales were EUR 2,479.6 million (2,084.1).
The comparable operating result was EUR 520.7 million 386.6), or 21.0% of sales (18.6). Operating result was EUR 531.5 million (375.9).
Comparable earnings per share were EUR 1.13 (0.85), and earnings per share were EUR 1.15 (0.82).
Comparable return on capital employed was 20.9 % (18.7).
Net cash flow from operations was EUR 232.0 million (329.6).
October–December 2022 (compared to 10–12/2021):
Sales were EUR 599.8 million (518.5).
The comparable operating result was EUR 100.8 million (91.3), or 16.8% (17.6) of sales. Operating result was EUR 94.7 million (90.8).
Comparable earnings per share were EUR 0.23 (0.20), and earnings per share were EUR 0.21 (0.19).
Comparable return on capital employed was 15.5% (16.1).
Net cash flow from operations was EUR 70.2 million (119.7).
Metsä Board’s CEO Mika Joukio:
“Metsä Board had a strong year in 2022. We achieved a record profitability in an operating environment that proved difficult to predict. Our sales amounted to EUR 2,480 million, and our comparable operating result totalled EUR 521 million. Our comparable return on capital employed exceeded 20%, and the ratio of interest-bearing net liabilities to comparable EBITDA, which was 0.2 at the end of the year, reflects our strong financial position. Our result improved especially thanks to the higher prices of fresh fibre paperboards, supported by a favourable currency effect. Successful price increases compensated the rapid cost inflation. Higher sales prices and a strong US dollar boosted also the result of Metsä Fibre, our associated company, to record figures. In addition, we achieved an annual all-time high in the production volumes of pulp and BCTMP.
In the first half of the year, demand for paperboards was strong in all our market areas. We used the folding boxboard volumes freed up from Russian sales to support our key customers’ growth in Europe and North America. In the second half of the year, paperboard sales normalised, as high inflation and rising interest rates quickly eroded households’ purchasing power and weakened general consumer demand. In addition, during the last quarter, adjustments to inventories in the value chain affected our sales, and we adjusted our paperboard production to meet the demand. Nevertheless, our sales in October–December totalled EUR 600 million, and our comparable operating result EUR 101 million. This was an excellent achievement, given that raw material and energy prices continued to rise throughout the period.
details at: https://www.metsagroup.com/metsaboard/news-and-publications/news/2023/metsa-boards-comparable-operating-result-in-januarydecember2022-was-eur-521-million/