Historical figures based on the new reporting structure
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