;
Home / Knowledge / News / Textiles / Metsa posts €2,904 million sales in 2018 first half

Metsa posts €2,904 million sales in 2018 first half

18
Aug '18
Courtesy: Metsa Group
Courtesy: Metsa Group
Metsa Group has recorded sales of €2,904 million in the first half of fiscal 2018 as against €2,451 million in the first half of fiscal 2017. The sales increased mainly due to greater delivery volumes and higher pulp and paperboard prices. Metsä Fibre’s sales in the second quarter were €629.0 million and the comparable operating result was €164.9 million.

Sales in the second quarter of the year totalled € 1,476.5 million, whereas sales for the corresponding period last year were €1,235.2 million. The comparable operating result was €210.1 million as compared to €119.1 in the fiscal 2017.

Demand for pulp remained strong. Compared to the corresponding period last year, the currency-denominated market prices of long-fibre and short-fibre pulp increased 32 per cent and 40 per cent respectively, in the first six months of fiscal 2018.

Metsä Group’s operating result (IFRS) was €412.3 million (253.4). The share of the results of associated companies and joint ventures was €0.8 million (18.9), financial income was €1.3 million (2.6), exchange rate differences in financing were €-4.5 million (-2.6), and financial expenses totaled €41.8 million (35.7). The result before taxes was EUR 368.1 million (236.6), and taxes including changes in deferred tax liabilities totalled €79.1 million (43.8). The Group’s effective tax rate was 21.5 per cent (18.5).

"Metsä Group continued its strong performance in the second quarter. The good result was made possible by the increase in sales volumes and improvement in production efficiency facilitated by our development investments in recent years, combined with favourable global economic development," president and CEO Ilkka Hämälä.

"Metsä Group continues its development phase. In 2018, our investments focus on the wood products industry, and we are also increasing our converting capacity for tissue papers and our production of cooking papers. Established in May, Metsä Spring is an innovation company focusing on the development of new products of the future, as well as strengthening Metsä Group’s position as a company that leads the way in the industry. As a result of the good performance, Metsä Group’s strong balance sheet provides favourable operating conditions, even during any disruption in international trade," explained Hämälä. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

British PM's Brexit divorce deal defeated in parliament

Textiles | On 16th Jan 2019

British PM's Brexit divorce deal defeated in parliament

British Prime Minister Theresa May's Brexit divorce deal was defeated ...

Garment industry in Laos continues to face challenges

Apparel/Garments | On 16th Jan 2019

Garment industry in Laos continues to face challenges

Apparel firms in Laos are facing several problems ranging from...

Courtesy: Indochino

Apparel/Garments | On 16th Jan 2019

Indochino to open 20 new showrooms in North America

Indochino, a leader in custom and made to measure apparel...

Interviews View All

Abhishek Ganguly, Puma India

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Veronique Lee, Modavanti

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Smith Vaghasia, Sanado India

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Will Qian,

Will Qian

Honghua Digital Technology Stock Co., Ltd. specialises in the R&D,...

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Marcus Hardelauf,

Marcus Hardelauf

Germany-based Textechno is one of the leading manufacturers of testing...

Suresh Patel, Sidwin Fabric

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kerem Durdag, Biovation II LLC

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


January 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search