Metsä Board divests its holding in Metsä Group Treasury Oy
Metsä Board Corporation Stock Exchange Release 30 September 2013 at 10 am EET
Metsä Board Corporation, part of Metsä Group, and the Group’s parent company Metsäliitto Cooperative have on 30 September 2013 entered into an agreement regarding the ownership reorganization of Metsä Group Treasury Oy (formerly Metsä Group Financial Services Oy). Metsäliitto Cooperative will fully acquire the ownership of Metsä Group Treasury, which is the Group’s internal bank. Metsä Group Treasury will remain as a separate corporation after the transaction and continues to provide treasury services for Metsä Board as before.
Metsä Board divests its 51 per cent holding in Metsä Group Treasury to Metsäliitto Cooperative for approximately EUR 5 million.
The transaction does not impact Metsä Board’s annual sales or operative result. The transaction improves Metsä Board’s equity ratio by approximately 5 percentage points, improves ROCE close to 1 percentage point and reduces gross debt by over EUR 300 million, all compared to 2Q 2013 actual numbers.
| KEY FIGURES | |||||
| As reported1) | Proforma2) | ||||
| 30 Jun 2013 | 30 Jun 2013 | ||||
| Total assets, EUR million | 2,531.5 | 2,185.0 | |||
| Interest bearing liabilities, EUR million | 1,060.5 | 739.8 | |||
| Interest bearing net-liabilities, EUR million | 605.9 | 613.1 | |||
| Equity ratio, % | 32.4 | 37.3 | |||
| Gearing, % | 130 | 91 | |||
| Net Gearing, % | 74 | 75 | |||
| Return on capital employed, 1–2Q 2013, % | 7.1 | 7.9 | |||
| 1) Metsä Board, incl. Metsä Group Treasury | |||||
| 2) Metsä Board, excl. Metsä Group Treasury | |||||
METSÄ BOARD CORPORATION
Further information:
Matti Mörsky, CFO, tel. +358 10 465 4913
Juha Laine, Vice President, Investor Relations and Communications, tel. +358 10 465 4335