Metsäliitto Group Interim Report January-September 2006

 

Metsäliitto Group’s operating profit excluding non-recurring items, was EUR 173 million in January - September

Result for January - September
• Sales EUR 6,919 million (EUR 6,378 million 1-9/05). Growth compared with the corresponding period last year was 8 per cent.
• Operating profit excluding non-recurring items was EUR 173 million (EUR 68 million in 1-9/05), and after non-recurring items EUR 139 million (63 million in 1-9/05).
• Result before tax was EUR -2 million (EUR -118 million in 1-9/05).
Result for July - September
• Sales EUR 2,246 million (EUR 2,057 million in Q3/05). Growth compared with the corresponding period last year was 9 per cent.
• Operating profit excluding non-recurring items was EUR 65 million (EUR 43 million in Q3/05), and after non-recurring items EUR 68 million (EUR 45 million in Q3/05).
• Result before tax was EUR 14 million (EUR 13 million in Q3/05).
 
Events in the third quarter
• Metsäliitto Group commenced the process to divest its Norwegian subsidiary Moelven Industrier ASA.
• The business of the Hartola module factory was sold to Finndomo.
• The International Court of Justice in The Hague rejected Argentina’s demands concerning discontinuation of the construction of Metsä-Botnia’s pulp mill in Uruguay.
• The European Commission completed the competition authorities’ investigation into fine paper, which had begun in 2004.

Kari Jordan, President & CEO, Metsäliitto Group:
“During the third quarter, the building of the new Metsäliitto Group continued with divestment of non-core business. M-real’s restructuring programme, announced on 18 October, is the latest example of our serious commitment to developing in the long run the only major forest industry company still under Finnish ownership into an efficient and profitable organisation.”

For further information, please contact:
Ilkka Pitkänen, Group CFO, Metsäliitto Group, tel. +358 10 469 4260
Lauri Peltola, Group CCO, Metsäliitto Group, tel. +358 50 570 5606