Metsä Group’s comparable operating result in 2020 was EUR 368 million

JANUARY–DECEMBER 2020 (1–12/2019)
*Sales were EUR 5,055 million (5,473).
*Operating result was EUR 376 million (374). The comparable operating result was EUR 368 million (495).
*The result before taxes was EUR 330 million (316). The comparable result before taxes was EUR 322 million (436).
*Comparable return on capital employed was 7.1% (9.6).
*Net cash flow from operations was EUR 667 million (485).

OCTOBER–DECEMBER 2020 (10–12/2019)
*Sales were EUR 1,357 million (1,290).
*Operating result was EUR 97 million (32). The comparable operating result was EUR 94 million (76).
*The result before taxes was EUR 88 million (18). The comparable result before taxes was EUR 86 million (62).
*Comparable return on capital employed was 7.4% (6.1).
*Net cash flow from operations was EUR 306 million (232).

President and CEO Ilkka Hämälä:
“As estimated at the beginning of the quarter, Metsä Group’s fourth quarter results in 2020 turned out to be weaker than in the previous quarter. Annual maintenance shutdowns moved from the first half of the year were carried out also during the fourth quarter. The market situation of the paperboard and tissue paper businesses remained good. Demand for pulp was strong, particularly in China, and prices in Asia took a clear turn upward. The higher prices did not, however, impact profitability in the fourth quarter yet. Europe’s pulp market situation follows that of Asia with a delay. Demand for and the prices of sawn timber and veneer products have improved.

The Group operated in line with the special procedures adopted in the spring of 2020 in response to the pandemic. We have begun location-specific testing, offered to the entire personnel. All external employees set to work at mills are tested before they start working. Despite the stricter precautionary measures, the number of infections at our locations outside Finland increased in November–December. We have been able to continue our business operations and development projects as planned.

Investment projects are proceeding according to plans. The construction phase of the Rauma sawmill has proceeded on schedule and equipment installations will begin in February. Kemi bioproduct mill investment decision has now been made. Thanks to the growing production volume we will be an even stronger partner for the sustainable growth of our customers. The Kemi bioproduct mill is a global leader in environmental, energy and material efficiency. The large project will have significant positive impacts on the Kemi region and the whole country. An update to the environmental permit of Husum’s recovery boiler was received in November. The decision was not appealed and the project’s installation phase began immediately after the permit had been obtained. Husum’s new recovery boiler will be started up in May 2022.”
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