Munksjö: Terminology change in Munksjö’s financial reporting related to alternative performance measures (APM:s) and updates in the communication policy


Munksjö: Terminology change in Munksjö’s financial reporting related to alternative performance measures (APM:s) and updates in the communication policy 

Terminology change in Munksjö’s financial reporting related to APM:s 

Munksjö Oyj will change the terminology in its financial reporting in accordance with the new guidelines from the European Securities and Markets Authority (ESMA) concerning Alternative Performance Measures (APM’s), effective for the financial year 2016. 

The change will take effect from the interim report for the second quarter, to be published on 27 July 2016. APMs should not be considered as a substitute for measures of performance in accordance with the IFRS. 

The term non-recurring items (NRI) will be changed to items affecting comparability (IAC), but the definition remains the same. As previously, these items are exceptional transactions that are not related to recurring business operations. The items affecting comparability involve items not influencing ordinary business operations or cash flow, which could arise from asset impairments, sales of assets, expenses of terminating business operations, reorganisation expenses, expenses related to changes in legislation or legal proceedings. 

Munksjö will add a table in its financial reporting from the second quarter of 2016 onwards explaining the main IAC. 

Items affecting comparability 2015-Q1/2016 

Reconciliation of adjusted EBITDA and EBIT
  Jan-March 2015 Apr-Jun 2015  Jul-Sep
Oct-Dec 2015 Jan-Dec
Jan-March 2016  
EBITDA (adj.*) 26.5 25.0 20.0 22.1 93.6 31.0  
Depreciation and impairment excl. items affecting comparability in EBIT -13.3 -13.5 -13.2 -13.6 -53.6 -14.7  
EBIT (adj.*) 13.2 11.5 6.8 8.5 40.0 16.3  
Items affecting comparability in EBIT:              
Environmental provision   -2.4     -2.4    
Other restructuring     -4.9   -4.9    
Operating result (IFRS) 13.2 9.1 1.9 8.5 32.7 16.3  

 * Adjusted with items affecting comparability

The definitions and calculations of all Munksjö’s key figures are available in the financial reports and there will not be any changes in these definitions and calculations related to the above described terminology change. 

Updates in the communication policy 

Munksjö’s silent period will be prolonged. As of the second quarter of 2016, the length of the silent period is 30 days instead of 21 days. During the silent period, Munksjö does not attend any conferences/seminars arranged by financial institutions, meet with the financial market (analysts, investors, bankers etc.) or the media and does not discuss e.g. unpublished financial results, the market sentiment, prices and price development, order intake or order book, production or any other issue related to our financial results. 

Munksjö’s stock exchange releases are also going forward published in three languages; Finnish, Swedish and English, with the exception of stock exchange releases related to manager’s transactions. Stock exchange releases related to manager’s transactions, published in accordance with the Market Abuse Regulation (MAR), will only be published in English. 

Munksjö Oyj 

For more information, please contact: 

Anna Selberg, SVP Communications, tel. +46 10 250 10 32 
Laura Lindholm, Head of Investor Relations, tel. +46 72 703 63 36 

Munksjö - Intelligent paper technology 

Munksjö is a world-leading manufacturer of advanced paper products developed with intelligent paper technology. Munksjö offers customer-specific innovative design and functionality in areas ranging from flooring, kitchens and furnishings to release papers, consumer-friendly packaging and energy transmission. The transition to a sustainable society is a natural driving force for Munksjö's growth as the products can replace non-renewable materials. This is what "Made by Munksjö" stands for. Given Munksjö's global presence and way of integrating with the customers, the company forms a worldwide service organisation with approximately 2,900 employees and 15 facilities located in France, Sweden, Germany, Italy, Spain, Brazil and China. Munksjö's share is listed on Nasdaq in Helsinki and Stockholm. Read more at