Metsä Board’s comparable operating result in January–September 2020 was EUR 157 million

January–September 2020 (compared to 1–9/2019)
•Sales were EUR 1,416.4 million (1,453.4).
•Comparable operating result was EUR 156.7 million (145.3) or 11.1% (10.0%) of sales. Operating result was EUR 162.7 million (160.8).
•Comparable earnings per share were EUR 0.33 (0.32), and earnings per share were EUR 0.34 (0.36).
•Comparable return on capital employed was 11.8% ( 11.0%).
•Net cash flow from operations was EUR 226.7 million (110.9).

July–September 2020 (compared to 7–9/2019)
• Sales were EUR 471.2 million (489.2).
•Comparable operating result was EUR 62.5 million (42.5), or 13.3% (8.7%) of sales. Operating result was EUR 62.5 million (42.5).
•Comparable earnings per share were EUR 0.13 (0.09), and earnings per share were EUR 0.13 (0.09).
•Comparable return on capital employed was 14.3% (9.7%).
•Net cash flow from operations was EUR 74.4 million (43.8).

Metsä Board’s CEO Mika Joukio:
“The impacts of coronavirus pandemic on Metsä Board’s business operations has so far been smaller than expected. Good demand for food and pharmaceutical packaging as well as various packaging solutions in the retail sector has increased the sales of our fresh fibre paperboards in both Europe and North America. In January–September, the total delivery volumes of our paperboards were on a higher level than in the corresponding period last year. We have a good paperboard product portfolio, which has proven to be defensive in a pandemic situation. Further, our recyclable paperboards made from renewable wood fibre are ideal for sustainable packaging, which will support their demand in the future.

Our comparable operating result in July–September was EUR 62.5 million (7–9/2019: 42.5). Profitability was supported particularly by the lower production costs of paperboard, a reduction in fixed costs and a positive FX impact. The sales prices of market pulp were lower than in the corresponding period last year. In China, the market situation of pulp has picked up slightly over the past few months, while in Europe, the rapid decline in paper production continues to reduce demand for market pulp.

A number of planned annual maintenance shutdowns at our mills took place in the third quarter, the most significant being the annual maintenance shutdowns of the Kemi and Husum mill integrates. The maintenance works proceeded well, and the profit losses due to them remained at the lower end of the estimated range. This was a continuation of the good performance of our mills throughout the pandemic.
more detail at: https://www.metsaboard.com/Media/Stock-Exchange-and-Press-Releases/Pages/Release.aspx?EncryptedId=E1BE90C734FB3D30&Title=MetsaBoardscomparableoperatingresultinJanuarySeptember2020wasEUR157million

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