Aug 10, 2012. /Lesprom Network/. Metsa Board’s 2Q sales amounted to Euro 522 million compared to Euro 545 in 1Q 2012. Comparable sales were down 1.4%. The operating result was Euro 161 million, and operating result excluding non-recurring items was Euro 19 million, as the company said in the press release received by Lesprom Network. A net total of Euro +142 million was recognised as non-recurring items in the operating result for April–June. In April–June 2012, the volume of paper deliveries totalled 165,000 tonnes. Deliveries in the Paperboard business area totalled 289,000 tonnes. The delivery volumes are not comparable due to the changes in the company’s structure. Financial income and expenses in the period totalled Euro -2 million. Foreign exchange rate differences from trade receivables, trade payables, financial items and the valuation of currency hedging were Euro 0 million. Net interest and other financial income and expenses amounted to Euro -2 million. The result before taxes for the period under review was Euro 159 million. The result before taxes excluding non-recurring items totalled Euro 17 million. Income tax amounted to Euro -19 million. Metsa Board’s sales amounted to Euro 1,067 million in 1H 2012. Comparable sales were down 15.6%. The operating result was Euro 157 million, and the operating result excluding non-recurring items was Euro 24 million. The net total of non-recurring items for January–June was Euro +133 million. The nonrecurring items recognised for the operating result of the corresponding period in the previous year came to Euro -61 million net. Financial income and expenses totalled Euro -16 million. Foreign exchange rate differences from trade receivables, trade payables, financial items and the valuation of currency hedging were Euro 2 million. Net interest and other financial income and costs stood at Euro -18 million. Other financial income and expenses included Euro 10 million of valuation gains on interest rate derivatives. The result before taxes for the period under review was Euro 141 million. The result before taxes and excluding non-recurring items was Euro 8 million. The impact of income tax was Euro -16 million. Earnings per share were Euro 0.38. Earnings per share excluding non-recurring items were Euro 0.03. Return on equity was 32.4%, and 2.1% excluding non-recurring items. The return on capital employed was 17.7%; 3.7% excluding non-recurring items. Mikko Helander, CEO of Metsa Board, said: “Our profitability improved in the 2Q of the year, primarily as a result of the reduced losses from the paper units under restructuring. The market situation and profitability of the paperboard business developed also favourably, but the result weakened slightly due to the production shutdown related to the capacity expansion at the Äänekoski folding boxboard mill. The paperboard order books and operating rates are at a good level but due to the general economic uncertainty in Europe, full capacity has, however, not been reached yet. In 2011 and 2012, we have successfully made investments at the Simpele, Kyro and Äänekoski mills to increase our annual folding boxboard capacity by a total of 150,000 tonnes. The expanded capacity is expected to be fully available from the beginning of 2013 when the renewed paperboard machines will be operating at the targeted efficiency levels.” Metsa Board is Europe’s leading producer of fresh forest fibre cartonboards, the world’s leading manufacturer of coated white-top kraftliners, and a major paper supplier.