M-real's first quarter 2009 operating result excluding non-recurring
items weaker than in the previous quarter
M-real Corporation Stock Exchange Release 6 March 2009
In connection with the announcement of the full year results 2008 on
February 5, 2009 M-real expected the operating result for the first
quarter of 2009, excluding non-recurring items, to improve seasonally
from the fourth quarter of 2008 but to remain clearly negative. It
was also stated that the general uncertainty of the economy poses
challenges to the short-term forecasting.
Demand and delivery volumes have remained weaker than estimated and
production curtailments have continued on a larger scale than earlier
planned. Additionally, market price for pulp has continued to
strongly decline during the first months of the year and the pulp
inventories have increased. There has been a need to write down the
value of the pulp inventories. Due to these factors, M-real's first
quarter 2009 operating result, excluding non-recurring items, is
expected to be weaker than in the previous quarter.
Due to the high uncertainty of the general economy it is currently
exceptionally challenging to forecast the profitability development.
Therefore, when issuing a future outlook, M-real will not give
specified result estimates until further notice.
Seppo Parvi, CFO, tel. +358 10 465 4321
Juha Laine, VP, IR and Communications, tel. +358 10 465 4335
Metsä Board is a leading European producer of premium fresh fibre paperboards and forerunner in sustainability. We produce premium lightweight folding boxboards, food service boards and white kraftliners for consumer goods packaging as well as retail-ready and food service applications. We work together with our customers on a global scale to innovate solutions for better consumer experiences with less environmental impact. The pure fresh fibres Metsä Board uses are a renewable resource, traceable to origin in sustainably managed northern forests. We aim for completely fossil-free mills and raw materials by 2030. The global sales network of Metsä Board supports customers worldwide, including brand owners, retailers, converters and merchants. In 2019, the company’s sales totalled EUR 1.9 billion, and it has approximately 2,400 employees. Metsä Board, part of Metsä Group, is listed on the Nasdaq Helsinki.