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Loss in first quarter 2012 for Metsä Board

May 3 2012  Metsä Board (previously M-real) reports an operating result of -4 million Euros in the first quarter of 2012, compared with 46 million the corresponding period last year.

Metsä Board's sales in the first quarter were 545 million euros (524 million the previous quarter and 685 million in the first quarter 2011).The operating result excluding non-recurring items was 5 million Euros (43 million the same period 2011)), and the operating result including non-recurring items was -4 million (46).The result before taxes excluding non-recurring items was -9 million Euros (28). The result before taxes including non-recurring items was -18 million Euros (31).The first quarter result was better than the result for the last quarter of 2011. Said Mikko Helander, CEO of Metsä Board:“Our profitability improved as expected in the first quarter of 2012. The result was, however, still on an unsatisfactory level. Cartonboard order books have normalized and utilization rates have clearly improved from the turn of the year level.””Our restructuring process from a paper company to a leading cartonboard company has been completed. Our strong cartonboard business together with the paper and pulp integrate in Husum provides a good foundation for further profitability improvement,” Helander added.

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