Myllykoski reported operating loss of Euro 18 million in 2009
Apr 01, 2010. Myllykoski’s consolidated net sales in 2009 totalled Euro 1,212 million, which is 17.6% less than in the corresponding period in 2008 (Euro 1,471 million). The operating loss was Euro 18 million in 2009, compared with a profit of Euro 11 million in 2008. The operating profit excluding non-recurring items was Euro 10 million, compared with Euro 13 million in 2008.
Apr 01, 2010. /Lesprom Network/. Myllykoski’s consolidated net sales in 2009 totalled Euro 1,212 million, which is 17.6% less than in the corresponding period in 2008 (Euro 1,471 million). The decrease in net sales was due to lower deliveries than in the previous year, as well as to the sale of the Utzenstorf and Alsip mills. Net sales for the 4Q 2009 amounted to Euro 293 million, compared to Euro 288 million in the 3Q, company said in a statement received by Lesprom Network.
The operating loss was Euro 18 million in 2009, compared with a profit of Euro 11 million in 2008. The operating profit excluding non-recurring items was Euro 10 million, compared with Euro 13 million in 2008.
The operating loss for the 4Q 2009 amounted to Euro 55 million, compared with a profit of Euro 0 million in the 3Q. The operating loss for the 4Q excluding non-recurring items amounted to Euro 11 million.
The loss before taxes was Euro 75 million in 2009, compared with a loss of Euro 21 million in 2008. The loss before taxes excluding non-recurring items was Euro 11 million in 2009, compared with a loss of Euro 19 million in 2008.
The loss for 2009 was Euro 68 million, compared with a loss of Euro 17 million in 2008. The loss for 2009 excluding nonrecurring items was Euro 7 million, compared with a loss of Euro 16 million in 2008.
The operating loss for 2009 includes as non-recurring items a profit of Euro 16 million from the sale of the Utzenstorf mill in June, a loss of Euro 35 million from the sale of the Alsip mill in November and a Euro 10 million write down in December on the value of the area of the Dachau mill, which was closed in 2007. The loss for 2009 also includes as non-recurring items in financial expenses a loss of Euro 20 million from the sale of the Group’s ownership in the Sunila pulp mill in May and a write down of Euro 16 million on the value of shares in Pohjolan Voima Oy in December.
Myllykoski is a family-owned international paper group with manufacturing in Finland, Germany and the United States and sales offices around the world. Myllykoski products consist of wood-containing uncoated and coated publication papers, including newsprint.