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Metsa Group posts Q2 FY20 sales of €1,200 mn

Jul '20
Pic: Metsa Group
Pic: Metsa Group
Metsa Group, a Finnish forest industry group with businesses of tissue and cooking papers, board, pulp, wood products, has reported its sales of €1,200 million in its second quarter (Q2) FY20 ended on June 30, 2020 compared to sales of €1,372 million in same period last year. Company’s result for the period were up to €74.0 million (Q2 FY19: €14.6 million).
“As anticipated, Metsa Group’s result improved sequentially in the second quarter of 2020. In the first quarter, the lengthy strikes which impacted all of our business areas impaired our profit-making ability. During the second quarter, the Covid-19 epidemic developed into a pandemic, which affected demand for products in our business areas in very different ways,” Ilkka Hamala president and CEO at Metsa Group, said in a press release.
“Due to the exceptional situation, demand was higher than normal for Metsa Tissue’s tissue papers sold in the consumer market. Demand for Metsa board’s paperboards increased particularly because of growth in food packaging. The situation for Metsa Fibre’s pulp business was unchanged, and prices remained low. The stronger demand for pulp mainly resulted from growth in global demand for tissue paper,” Hamala said.
Group's operating result for the quarter were €102 million (€49 million). Result before taxes rose to €93 million (€36 million).
For the six months period (H1) of fiscal 2020, Metsa Group’s sales were €2,452.7 million (€2,809.4 million). 
Segmentally, sales of wood supply and forest services during H1 FY20 were €901.4 million. Wood products industry sales were €191.0 million. Pulp and sawn timber industry sales were €839.6 million.

Fibre2Fashion News Desk (JL)

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