Metsä Groupe Q1 Report 2024

Metsä Group’s sales in January–March 2024 were EUR 1,457.5 million (1–3/2023: 1,634.4). The comparable operating result was EUR 69.9 million (275.7), or 4.8% (16.9) of sales. Among other things, the decrease in the operating result is attributable to the decline in sales prices and the strikes in Finland, which are estimated to have had a negative impact of roughly EUR 60 million on the operating result, around EUR 40 million of which is allocated to the first quarter. Exchange rate fluctuations after hedging had a negative effect of approximately EUR 4 million on the operating result of the review period compared to the previous year.

Highlights

• Sales EUR 1,457 million (Q1/2023: EUR 1,634 million)
• Operating result* EUR 70 million (276)
• Operating result* 4.8% of sales (16.9)
• Return on capital employed* 4.0% (15.3)
• The market situation improved from the previous quarter. However, the comparable operating result was weakened by the decline in sales prices compared to Q1/2023 and the strikes in Finland
• The political strikes will have a negative impact of EUR 60 million, EUR 40 million of which is allocated to the first quarter
• Exchange rate fluctuations had a negative impact of around EUR 4 million on the result