Metsäliitto forecasts operating result excluding non-recurring items in Q4 to be slightly lower than Q3 results of €63M, cites lower than expected volumes of pulp and paper, pulp price, board delivery volumes
December 9, 2011
– Metsäliitto Group expected in connection to the third quarter 2011 announcement, that its operating result excluding non-recurring items in the last quarter of 2011 will be slightly lower than in the third quarter. In the third quarter of 2011 the operating result excluding non-recurring items was EUR 63 million.
The delivery volumes of pulp and paper have however been lower than expected and the pulp price has decreased more than anticipated. Also the board delivery volumes have been somewhat lower than expected as a result of rapid inventory reduction in different parts of the delivery chain. Due to these facts Metsäliitto Group estimates its operating result excluding non-recurring items in the last quarter of 2011 to be clearly weaker than in the third quarter. Metsäliitto Group has initiated measures that enable adjusting the production to meet the demand by temporary layoffs and working time arrangements.
Metsäliitto Group’s financial results for the year 2011 will be published on 9 February 2012.