Metsä Board’s comparable operating result for the third quarter of 2020 is better than previously estimated
Metsä Board Corporation Stock exchange release Insider information 9 October 2020 at 9:30 a.m. EEST
Metsä Board’s, part of Metsä Group, comparable operating result for the third quarter of 2020 is better than the company’s result guidance issued on July 30, 2020.
The result guidance in Metsä Board’s January–June 2020 half-year financial report was: “Metsä Board’s comparable operating result for the third quarter of 2020 is expected to weaken compared to the second quarter of 2020.”
The comparable operating result for the second quarter of 2020 was EUR 60.5 million. The comparable operating result for the third quarter of 2020 is estimated to be approximately EUR 62 million.
The negative impacts of the corona pandemic on the company’s business have so far been smaller than expected. Metsä Board’s fresh fibre paperboards are widely used in food and pharmaceutical packaging as well as in various retail packaging solutions. Demand for these products has remained good. Metsä Board’s paperboard deliveries in the third quarter remained approximately at the level of the second quarter and prices were stable. The total costs were lower than estimated, and negative profit impact from the annual maintenance shutdowns in September were at the lower end of the estimate range. The result of the associated company Metsä Fibre, of which Metsä Board owns 24.9 per cent, was supported by the pick-up in the Chinese pulp market.
Metsä Board will publish its interim report for January–September 2020 on 29 October 2020 at 12:00 EET. The report will include the result guidance for the fourth quarter of 2020.
METSÄ BOARD CORPORATION
Jussi Noponen, CFO, tel. +358 10 465 4913
Katri Sundström, VP, Investor Relations, tel. +358 10 462 0101
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.