A new four-year tentative agreement has been reached between Catalyst Paper and Unifor, representing approximately 750 workers in British Columbia. "This agreement achieves the pattern bargaining goals that Unifor set for the western pulp sector, which is helping to raise standards across the board," said Unifor National President Jerry Dias. "I congratulate the bargaining committee on obtaining a fair deal in these very challenging times for the Canadian pulp and paper industry." Click Read More below for additional information.
January–September 2022 (1–9/2021)
*Sales were EUR 5,239 million (4,457).
*Operating result was EUR 986 million (652). Comparable operating result was EUR 966 million (694).
*Result before taxes was EUR 961 million (616). Comparable result before taxes was EUR 934 million (658).
*Comparable return on capital employed was 20.0% (16.4).
*Net cash flow from operations was EUR 828 million (596).
July–September 2022 (7–9/2021)
*Sales were EUR 1,823 million (1,515).
*Operating result was EUR 397 million (273). Comparable operating result was EUR 391 million (278).
*Result before taxes was EUR 396 million (263). Comparable result before taxes was EUR 385 million (267).
*Comparable return on capital employed was 23.5% (18.8).
*Net cash flow from operations was EUR 372 million (222).
President and CEO Ilkka Hämälä:
Metsä Group’s business operations as a whole were very profitable in the third quarter. Russia’s unjustified attack’s effects on Europe’s economic development and energy supply had a negative impact on our business operations, decreased consumer demand, and increased cost inflation. The risks of the global economy and security policy remain the same. Despite the strong financial performance and the outlook for the fourth quarter, longer-term outlooks continue to be difficult to predict.
The wood market situation in the Baltic Sea region continues to be tight after Russian wood was withdrawn from the market in the spring. Wood trade has been active. The deficit in birch imports has been successfully compensated for with changes in which some of the birch used in production has been replaced with softwood.
The sawn timber market has seen a decrease in demand and prices during the third quarter after a long period of exceptionally strong performance. The situation is affected by the outlook of the European economy, which has caused a decrease in activity in the construction industry. Similar effects can be seen in the LVL and spruce plywood markets. However, LVL remains a speciality product in construction that replaces fossil-based materials, and it is currently in a strong growth phase, which compensates for the effects of the short-term market situation.
Demand and prices in the pulp market have continued to be very strong. The profitability of the dollar-denominated pulp pricing has also been supported by the strong dollar exchange rate.
more at: https://www.metsagroup.com/news-and-publications/news/2022/metsa-groups-comparable-operating-result-in-januaryseptember-2022-was-eur-966-million/