Historical figures based on the new reporting structure

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Metsä Board Corporation Stock Exchange Release 12 February 2015 at 1 pm EET

Metsä Board Corporation, part of Metsä Group, announced on 10 December 2014 to renew its management and reporting structure as of 1 January 2015 to enable successful implementation of the company’s growth strategy in paperboard businesses.

Metsä Board’s reporting segments from the first quarter of 2015 onwards are:

- Paperboard

 - Non-core operations

Paperboard segment includes folding boxboard, fresh forest fibre linerboard, wallpaper base and market pulp businesses. Non-core operations include Husum’s standard paper business until the planned discontinuation latest by end 2017 and Gohrsmühle mill’s cast coated and label paper businesses. Capital employed related to Metsä Board’s Pohjolan Voima Oy ownership, earlier reported under Other operations, has been allocated to Paperboard segment.

Accounting for the 24.9 per cent ownership in Metsä Fibre will remain unchanged. The associated company result of Metsä Fibre is allocated to Paperboard segment.  

The historical figures based on the new business area structure are presented in the tables below.

Sales and result  by segment            
  2014 2014 2014 2014 2014 2013
EUR million Q4 Q3 Q2 Q1 Q1-Q4 Q1-Q4
Paperboard 363.8 375.1 355.8 349.5 1,444.2 1,368.5
Non-core operations 126.9 127.7 126.5 136.0 517.1 578.7
Other operations 71.5 73.8 71.4 70.7 287.5 300.8
Internal sales -62.7 -62.8 -59.8 -55.0 -240.3 -228.7
Sales 499.4 513.8 494.0 501.2 2,008.4 2,019.3
             
Paperboard 66.7 60.6 60.6 58.9 246.8 203.2
Non-core operations -7.4 5.4 0.9 3.8 2.8 9.5
Other operations -3.0 -5.3 -5.6 6.5 -7.4 2.1
EBITDA 56.4 60.7 55.8 69.2 242.2 214.8
  % of sales 11.3 11.8 11.3 13.8 12.1 10.6
             
Paperboard 51.0 44.2 45.4 43.8 184.3 145.4
Non-core operations -40.5 -4.0 -6.9 -6.1 -57.4 -30.6
Other operations -3.8 -6.0 -6.4 5.8 -10.4 -1.2
Operating result 6.7 34.2 32.2 43.5 116.5 113.6
  % of sales 1.3 6.6 6.5 8.7 5.8 5.6
             
Non-recurring items in operating result            
Paperboard 0.1 0.0 4.0 0.0 4.1 2.9
Non-core operations -38.6 -1.1 0.0 0.0 -39.7 0.7
Other operations 8.5 0.0 -0.2 7.4 15.7 5.5
Metsä Board Group -30.1 -1.1 3.8 7.4 -19.9 9.2
             
Paperboard 67.0 60.6 56.6 58.9 243.0 202.8
Non-core operations 5.1 6.5 0.8 3.8 16.3 8.9
Other operations -11.5 -5.3 -5.4 -0.9 -23.1 -3.7
EBITDA, excl. non-recurring items 60.6 61.8 52.0 61.8 236.3 208.0
  % of sales 12.1 12.0 10.5 12.3 11.8 10.3
             
Paperboard 50.9 44.2 41.4 43.8 180.2 142.5
Non-core operations -1.8 -2.9 -6.9 -6.1 -17.7 -31.3
Other operations -12.3 -6.0 -6.1 -1.6 -26.1 -6.8
Operating result,
excl. non-recurring items
36.8 35.2 28.3 36.1 136.5 104.4
  % of sales 7.4 6.9 5.7 7.2 6.8 5.2
             
Operating result, excl. non-recurring
Items, % of sales
         
Paperboard 14.0 11.8 11.6 12.5 12.5 10.4
Non-core operations -1.5 -2.3 -5.4 -4.5 -3.4 -5.4
             
Return on capital employed, %            
Paperboard 17.6 15.1 15.7 15.3 16.4 12.6
Non-core operations -66.0 -5.6 -8.6 -6.7 -19.5 -8.2
Metsä Board Group 1.8 9.0 8.5 11.2 7.7 7.0
             
Return on capital employed,
excl. non-recurring items, %
           
Paperboard 17.6 15.1 14.3 15.3 16.0 12.3
Non-core operations -3.0 -4.1 -8.6 -6.7 -6.0 -8.4
Metsä Board Group 9.6 9.2 7.5 9.9 9.1 6.4
             
Capital employed, EUR million              
Paperboard 1,124.7 1,189.5 1,151.1 1,159.3 1,124.7 1,122.4
Non-core operations 212.7 277.9 289.5 349.7 212.7 376.6
Unallocated and eliminations 187.9 87.7 90.8 72.5 187.9 51.9
Metsä Board Group 1,525.4 1,555.1 1,531.4 1,581.5 1,525.4 1,550.9

 

Deliveries 2014 2014 2014 2014 2014 2013
1,000 tonnes Q4 Q3 Q2 Q1 Q1-Q4 Q1-Q4
Paperboard 326 344 322 318 1,311 1,183
Non-core operations 158 158 153 167 636 716
Paperboard and Paper deliveries 485 502 475 484 1,946 1,898
Market Pulp 148 153 158 152 611 635
             
Production 2014 2014 2014 2014 2014 2013
1,000 tonnes Q4 Q3 Q2 Q1 Q1-Q4 Q1-Q4
Paperboard 348 336 349 337 1,370 1,244
Non-core operations 152 163 145 169 629 721
Paperboard and Paper production 500 499 494 506 1,999 1,965
             
Metsä Board Pulp mills 337 320 299 337 1,294 1,249

 

  2014 2014 2014 2014 2014 2013
Personnel, total Q4 Q3 Q2 Q1 Q1-Q4 Q1-Q4
Paperboard 1,405 1,446 1,643 1,417 1,405 1,373
Non-core operations 1,140 1,156 1,141 1,170 1,140 1,218
Other operations 567 562 587 559 567 526
Personnel, total 3,111 3,164 3,370 3,145 3,111 3,116
             
  2014 2014 2014 2014 2014 2013
Personnel, total average Q4 Q3 Q2 Q1 Q1-Q4 Q1-Q4
Paperboard 1,474 1,495 1,473 1,376 1,474 1,461
Non-core operations 1,161 1,164 1,175 1,199 1,161 1,237
Other operations 565 564 560 556 565 547
Personnel, total average 3,200 3,224 3,209 3,131 3,200 3,245

 

METSÄ BOARD CORPORATION

For further information, please contact:

Markus Holm, CFO, tel. +358 10 465 4913         
Juha Laine, Vice President, Investor Relations and Communications, tel. +358 10 465 4335


 

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