Metsa Q3 Report 2023

January–September 2023 (1–9/2022)

• Sales were EUR 4,624 million (5,239).
• Operating result was EUR 443 million (986). Comparable operating result was EUR 431 million (966).
• Result before taxes was EUR 438 million (961). Comparable result before taxes was EUR 430 million (934).
• Comparable return on capital employed was 8.3% (20.0).
• Net cash flow from operations was EUR 487 million (828). July–September 2023 (7–9/2022)
• Sales were EUR 1,509 million (1,823).
• Operating result was EUR 41 million (397). Comparable operating result was EUR 51 million (391).
• Result before taxes was EUR 49 million (396). Comparable result before taxes was EUR 60 million (385).
• Comparable return on capital employed was 3.2% (23.5).
• Net cash flow from operations was EUR 469 million (372).

Events during the third quarter of 2023

• The average sales prices for Metsä Group’s long-fibre pulp continued to decrease compared to April–June.
• In Europe, the demand for market pulp was at a low level in January–September. In China, demand increased after the summer.
• The average prices and delivery volumes of Metsä Board’s paperboards decreased slightly from April–
  June. The company continued to adjust its production to match demand.
• The new Kemi bioproduct mill and paperboard mill expansion started up on 20 September 2023. The bioproduct mill’s pulp deliveries will begin in October 2023.
• Goole in the UK was chosen as the site for a planned tissue paper mill investment.
• Metsä Group will boost biodiversity on and around its mill sites. Kemi is the first location.