Operating result excluding non-recurring items was Euro 537.4 million, or 10.7% of sales. Operating result including non-recurring items was Euro 542 million.
The operating result improved compared to the previous year due to the increase in the delivery volumes of pulp and paperboard, as well as the weakening of the euro against the main export currencies, in particular the US dollar. Currency hedges decreased the positive impact of exchange rates.
President & CEO Kari Jordan said: “Metsä Group’s business operations developed favourably in 2015. Our sales grew, and operating result excluding non-recurring items was markedly better than in 2014. Our cash flow was at a good level and balance sheet strenghtened. Our profit-making ability showed an upward trend during the year, with the exception of the impact of the investment and maintenance shutdowns in the last quarter. We benefitted from exchange rate changes to some extent, but our stronger performance was based above all on our long-term work to improve efficiency and profitability”.
Sales for the 4Q 2015 totalled Euro 1,205.4 million, whereas the sales for the corresponding period last year were Euro 1,247.5 million.
4Q 2015 operating result excluding non-recurring items was Euro 122.7 million. The operating profit for October–December 2015 was weakened by the shutdown related to the investment programme at Husum mill integrate and the maintenance shutdowns in the pulp industry.
Metsä Group consists of Metsäliitto Cooperative, its two businesses Metsä Wood and Metsä Forest, and its subsidiaries Metsä Tissue, Metsä Board and Metsä Fibre. Metsäliitto Cooperative is the parent company of Metsä Group.
