Metsä Group’s sales for the 2Q 2016 totalled Euro 1,183.9 million, whereas the sales for the corresponding period last year were Euro 1,330.2 million. The operating result excluding non-recurring items was Euro 119.8 million, as the company said in the press release received by Lesprom Network.
President and CEO Kari Jordan said: “Metsä Group’s 2Q 2016 was as we expected. The operating result compared to the previous year was affected by the lower market price of pulp and the start-up phase of the new folding boxboard production line at Husum.
The production volumes of Husum’s new folding boxboard production line have increased and its operational reliability has clearly improved. Full production capacity is expected to be achieved by the end of this year. The printing paper production at the Husum mill and in the entire Metsä Group came to an end in its entirety in July.”
Metsä Group’s sales in January–June 2016 totalled Euro 2,339.5 million (1H 2015: Euro 2,585.3 million). Compared to the corresponding period previous year, sales were reduced by the considerable decline in paper deliveries and the decrease in the market prices of pulp.
1H 2016 operating result excluding non-recurring items was Euro 229.3 million, or 9.8% of sales. The decrease in the operating result compared to the previous year is primarily attributable to the lower market price of pulp, start-up of the new folding boxboard production line at Husum, and the lower average price of the start-up volumes of folding boxboard.
Metsä Group focuses on wood supply and forest services, wood products, pulp, fresh forest fibre paperboards and tissue and cooking papers.