Metsä Group's sales in January–September 2016 totaled Euro 3,482.7 million, compared to Euro 3,810.6 million in January–September 2015.
The comparable operating result was Euro 332.1 million, or 9.5% of sales. The decrease in sales and operating result in comparison to the previous year is primarily attributable to the lower market price and sales volumes of pulp, as well as the commissioning of the new folding boxboard machine at Husum mill in Sweden and the lower price of the start-up volumes.
Sales for the 3Q 2016 totalled Euro 1,143.3 million, whereas the sales for the corresponding period last year were Euro 1,225.2 million. 3Q operating result was Euro 107 million, compared to Euro 142 million in 3Q 2015. Comparable operating result was Euro 103 million.
President and CEO Kari Jordan said: “Compared to the previous year, Metsä Group's profitability in 2016 was impacted by the lower market price of pulp and the start-up phase of Husum's new folding boxboard machine However, this year too we have surpassed the 10% target we have set for comparable return on capital employed.
“The approximately Euro 100 million development programme in our Wood Products Industry is likewise progressing in line with our objectives. The expansion of Lohja's Kerto® LVL mill has begun. The development programme includes investments in both Finland and Estonia, and it will be implemented by the end of 2018.
“Metsä Group is investing heavily in the growth of its core businesses. Resource-efficient processing into products creates the most added value for Finnish wood. It serves as an excellent starting point for the circular economy.”
Metsä Group is a forerunner in bioeconomy utilising renewable wood from sustainably managed northern forests. Metsä Group focuses on wood supply and forest services, wood products, pulp, fresh forest fibre paperboards and tissue and cooking papers.