Metsä Group’s comparable operating result in January–June 2017 was EUR 247 million

January–June 2017 (1–6/2016)
• Sales were EUR 2,451 million (2,339).
• Operating result was EUR 253 million (225). Comparable operating result was EUR 247 million (229).
• Result before tax was EUR 237 million (186). Comparable result before tax was EUR 230 million (190).
• Comparable return on capital employed was 11.5 per cent (11.0). Comparable return on capital employed excluding assets under construction related to strategic investment projects was 14.0 per cent (12.2).
• Cash flow from operations was EUR 190 million (121).

April–June 2017 (4–6/2016)
• Sales were EUR 1,235 million (1,184).
• Operating result was EUR 122 million (119). Comparable operating result was EUR 119 million (120).
• Result before tax was EUR 107 million (98). Comparable result before tax was EUR 104 million (100).
• Comparable return on capital employed was 10.6 per cent (11.5). Comparable return on capital employed excluding assets under construction related to strategic investment projects was 13.1 per cent (12.6).
• Cash flow from operations was EUR 192 million (152).
President and CEO Kari Jordan: “Metsä Group’s profitability in 2017 has improved from the previous year. The most significant reasons for the improved result are the clearly higher volumes in paperboard deliveries and the increased price of pulp.

Metsä Group’s key development projects aiming for profitable growth are progressing according to plan. The construction of the bioproduct mill in Äänekoski, which has proceeded on schedule and on budget, is nearly completed, and the mill’s start-up will begin in mid-August. Pulp deliveries to customers will start at the beginning of September. The new production line at the Kerto® LVL mill in Lohja will likewise start up in August. The construction of the birch plywood mill in Pärnu, Estonia, and the work of converting the old paper machine hall at Äänekoski into a birch veneer mill are proceeding well. The Husum paperboard mill’s new extrusion coating line started up in April, and the related quality feedback from customers has been good. In June, we began work on rebuilding the baking paper machine at the Düren mill in Germany. The new machine will also allow us to expand our cooking paper business in the future.

After years of stagnation, Finland’s economy has started to pick up. For this growth to continue, our country needs investments. Metsä Group and Finland’s forest industry in general have met this need. According to the National Forest Inventory figures published by the Natural Resources Institute Finland (Luke) in June, the growth of our forests has continued to accelerate. This means that the raw material base is good. Uncertainty with regard to future investments is nevertheless increasing due to the EU’s climate and land use policies. If implemented in its current form, the LULUCF Regulation, which regulates the levels of carbon sinks, would be detrimental to Finland. Combating climate change is of utmost importance, and Metsä Group is committed to it. However, restricting a sector based on sustainable forest management and a renewable natural resource is not the right way to go forward.”
more detail at:  https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=785757&lang=en

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