Metsä Group reports 4Q and FY 2020 results

Sursa:
Metsä/Fordaq
Vizualizări:
652
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Metsä Group’s sales in the 4Q 2020 totalled Euro 1,357.2 million, whereas sales of the corresponding period in the previous year were Euro 1,290.3 million. The comparable operating result was Euro 94 million, compared to Euro 76.4 million in the 4Q 2019.

4Q 2020 operating result was Euro 97 million.

President and CEO Ilkka Hämälä said:“As estimated at the beginning of the quarter, Metsä Group’s 4Q results in 2020 turned out to be weaker than in the previous quarter. Annual maintenance shutdowns moved from the first half of the year were carried out also during the 4Q. The market situation of the paperboard and tissue paper businesses remained good. Demand for pulp was strong, particularly in China, and prices in Asia took a clear turn upward. The higher prices did not, however, impact profitability in the fourth quarter yet. Europe’s pulp market situation follows that of Asia with a delay. Demand for and the prices of sawn timber and veneer products have improved.”

Metsä Group’s sales in January–December 2020 were Euro 5,054.9 million, compared to Euro 5,473.4 million in 2019. Sales decreased due to lower sales prices of pulp compared with the previous year, among other factors.

FY 2020 comparable operating result was Euro 367.7 million, or 7.3% of sales. The decrease in the operating result is attributable, among other things, to a decline in the sales prices of pulp and the strikes in Finland in early 2020, which are estimated to have had a negative impact of around Euro 50 million on the operating result.

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