Metsä Board updates its long-term financial targets
Metsä Board Oyj Investor news 26 April 2019 at 11:47 a.m.
Metsä Board has earlier today announced (stock exchange release on 26 April 2019) its planned investments, including the investments planned by Metsä Board’s associated company Metsä Fibre. If realised, these investments will focus on improving the competitiveness of pulp and energy production in the coming years.
Profitability will guide Metsä Board’s capital allocation. In the paperboard business, this means small and mid-sized investments in the company’s existing production lines. Thus, the volume growth of paperboard deliveries will be moderate over the next few years.
Metsä Board will remove from its financial targets the paperboard volume growth that exceeds the average market growth. The other financial targets will remain the same.
Metsä Boards’ financial targets are:
Comparable return on capital employed (ROCE) a minimum of 12 per cent
The ratio of interest-bearing net debt to 12 months rolling comparable EBITDA a maximum of 2.5x
Metsä Board’s dividend policy will remain unchanged. The target is to distribute to the shareholders at least 50 per cent of the result for the financial period every year.
METSÄ BOARD CORPORATION
Jussi Noponen, CFO, tel +358 9 10 465 4913
Katri Sundström, VP, Investor relations, +358 10 462 0101
Metsä Board is a leading European producer of premium fresh fibre paperboards including folding boxboards, food service boards and white kraftliners. Our lightweight paperboards are developed to provide better, safer and more sustainable solutions for consumer goods 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.
The global sales network of Metsä Board supports customers worldwide, including brand owners, retailers, converters and merchants. In 2018, 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.
Follow Metsä Board: Twitter LinkedIn YouTube Instagram Slideshare
Metsä Group is a forerunner in sustainable bioeconomy utilising renewable wood from sustainably managed northern forests. Metsä Group focuses on wood supply and forest services, wood products, pulp, fresh fibre paperboards and tissue and cooking papers.
In 2018, Metsä Group’s sales totalled EUR 5.7 billion, and it employs approximately 9,300 people. Metsäliitto Cooperative is the parent company of Metsä Group and is owned by approximately 103,000 Finnish forest owners.