Finland · Delayed Price · Currency is EUR Metsä Board Oyj Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw lower sales and profitability due to weak volumes and adverse FX, but transformation actions delivered over €100 million in run-rate savings. The new strategy targets premium packaging growth, improved cash flow, and reduced cyclicality, with a strong focus on cost discipline and operational efficiency.
Fiscal Year 2025
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Profitability remained negative in 2025 due to weak demand, U.S. tariffs, and market headwinds, but strong cash flow and transformation actions provided stability. Investments are shifting to maintenance, with no dividend proposed and further cost savings expected in 2026.
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Challenging market conditions and U.S. tariffs led to a Q3 operating loss and declining volumes, but strong cash flow was achieved through working capital release. A major cost-saving program is underway, with further production curtailments and no result guidance due to volatility.
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Q2 saw a 10% year-on-year sales decline and a negative operating result amid weak demand, U.S. tariffs, and high costs. A transformation program aims for EUR 200 million in annual EBITDA improvement by 2026, with a focus on cost savings, cash flow, and shifting growth toward Europe.
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Q1 sales were stable year-over-year at EUR 481 million, but operating profit fell 30% due to higher costs and asset write-downs. U.S. tariffs and weak demand continue to pressure results, with Q2 guidance indicating further earnings decline and more production curtailments.
Fiscal Year 2024
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2024 saw flat sales but sharply lower profitability due to weak demand, higher costs, and operational disruptions. Investments continued, with major projects at Simpele and Husum, while plans to close Tako mill and improve Kyro mill efficiency were announced to address persistent losses.
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Q3 saw stable sales and improved paperboard volumes, but profitability was impacted by maintenance shutdowns, lower prices, and the lingering effects of the Kemi mill explosion. Investments continue, with a renewed dividend policy and cautious outlook for Q4 as costs rise and demand remains soft.
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Paperboard demand and delivery volumes improved in Q2, but significant one-off events, including strikes and a mill explosion, led to negative operating results and higher leverage. Outlook for Q3 is for slightly higher volumes and stable prices, with costs expected to remain flat.