The Navigator Company recorded turnover of € 1,577.4 million in 2016, as compared to € 1,628 million in 2015. This reduction was due primarily to a drop in the value of energy sales, after the review of the tariff for sales to the national grid by the natural gas cogeneration plant in Figueira da Foz, and also to the global contraction in pulp and paper price observed over the course of 2016. The Group mitigated the downward trend in prices by increasing its sales volumes, and also through an effort to reduce costs. In Europe, conditions in the UWF market deteriorated during 2016, and estimates point to a reduction in apparent consumption of 3.8% (-0.3% in 2015) and growth in total imports of more than 18%. Paper imports from Asia increased significantly, in particular in office paper, triggering an overall downwards adjustment in prices. click Read More below for additional detail
January–September 2018 (1–9/2017)
•Sales were EUR 4,290 million (3,712).
•Operating result was EUR 635 million (397). Comparable operating result was EUR 641 million (381).
•Result before tax was EUR 576 million (345). Comparable result before tax was EUR 582 million (330).
•Comparable return on capital employed was 17.1% (11.2).
•Cash flow from operations was EUR 591 million (611).
July–September 2018 (7–9/2017)
•Sales were EUR 1,386 million (1,260).
•Operating result was EUR 223 million (143). Comparable operating result was EUR 223 million (134).
•Result before tax was EUR 208 million (109). Comparable result before tax was EUR 208 million (100).
•Comparable return on capital employed was 18.3% (10.8).
•Cash flow from operations was EUR 314 million (420).
President and CEO Ilkka Hämälä: “Strong demand for our products continued in the third quarter. The prices of different product groups remained stable or rose slightly. The market situation, combined with the high sales volume enabled by our development investments, led to an excellent financial result.
In terms of the Group’s development path, we completed our birch plywood investments in Äänekoski and Pärnu, and immediately after the review period, we decided on a new industrial demo plant to produce wood-based textile fibres to be built at Äänekoski. We are continuing the LVL mill investment at Punkaharju and exploring development options for our pulp mill in Kemi.
Converting Finnish wood into diverse carbon-storing products and the combined development of forest management services that support the sustainable growth of forests represent Metsä Group’s actions to combat climate change.”
more detail at: https://www.metsagroup.com/en/media/all-news/Pages/News.aspx?EncryptedId=C45B1FF948965A9B&Title=MetsaGroupscomparableoperatingresultinJanuarySeptember2018wasEUR641million