Metsa Group reports Q3 FY20 sales of €1,245 mn

30 Oct '20

2 min read

Pic: Metsa Group

Metsa Group, a Finnish forest industry group with businesses of tissue and cooking papers, pulp, wood products, has reported its sales of €1,245 million in its third quarter (Q3) FY20 ended on September 30, 2020 compared to sales of €1,373.7 million in same period last year. Company’s result for the period were up to €80.9 million (Q3 FY19: €75.9 million).

“Metsa Group’s result in the third quarter of 2020 was better than we expected at the beginning of the quarter. Compared with our estimate, the most significant improvement came from the paperboard business, where the sales volumes were higher than expected and prices remained stable,” Ilkka Hamala president and CEO at Metsa Group, said in a press release.

“In the pulp business, demand recovered in China during the quarter, and prices also developed favourably in the Asian market. The wood products business was also slightly stronger than expected,” Hamala said.

Company’s operating result for Q3 FY20 was €115.9 million (€110.3 million).

“Through its operations, Metsa Group is responding to the need to provide products made from renewable materials for people’s everyday needs. We are actively developing our operations, starting from better combining the ecological and economic goals related to northern forests to the continuous improvement of our production and operational processes and the introduction of renewable, increasingly resource-efficient products for consumers,” Hamala said.

In its outlook, Metsa stated that wood demand will focus on stands to be harvested when the ground is unfrozen, and on crown wood in terms of energy wood. While, demand for Kerto LVL products has increased in the North American market in particular. And demand for and supply of long-fibre market pulp is expected to stabilise, with demand growing seasonally and supply decreasing because of annual maintenance shutdowns towards the end of the year, as reported.

Fibre2Fashion News Desk (JL)

More Textiles News - Finland...