Metsa Board Oyj Class A · OMXHEX:METSA
Metsa Board Oyj Class A — Metsä Group — Q1 2025 Earnings Presentation
21 slides from Metsa Board Oyj Class A's earnings presentation, Apr 29, 2025
Slide 1: Slide 1
Slide 2: Metsä Group's Interim Report Q1/2025
Metsä Group’s Interim Report Q1/2025 President and CEO Ilkka Hämälä 29 April 2025
Slide 3: Demand for Metsä Group's products remained muted
Metsä Group – Q1/2025 Demand for Metsä Group's products remained muted • Sales EUR 1,642 million (Q1/2024: EUR 1,457 million) • Operating result* EUR 81 million (70), or 4.9% of sales (4.8) • Return on capital employed* 4.4% (4.0) • The first quarter of 2025 was marked by continued low demand and a
Slide 4: Recent events
Metsä Group – Q1/2025 Recent events • In February, Metsä Group initiated pre-engineering of a Kuura textile fibre mill in preparation for the fibre’s industrial production • It was decided to shut down the Tako board mill and improve the operational efficiency of the Kyro board mill. These measures
Slide 5: Sales, quarterly
Metsä Group – Q1/2025 Sales, quarterly EUR million 2 000 1,822 1,823 1 800 1,741 1,634 1,642 1,560 1,594 1 600 1,542 1,515 1,509 1,481 1,486 1,457 1,480 1,475 1,400 1 400 1,336 1 200 1 000 800 600 400 200 0 Q1/21 Q2 Q3 Q4 Q1/22 Q2 Q3 Q4 Q1/23 Q2 Q3 Q4 Q1/24 Q2 Q3 Q4 Q1/25 29.4.2025
Slide 6: Comparable operating result, quarterly
Metsä Group – Q1/2025 Comparable operating result, quarterly EUR million 450 391 400 350 330 311 300 278 276 242 244 250 220 200 174 150 104 113 100 81 70 51 57 50 33 0 -13 -50 Q1/21 Q2 Q2 Q4 Q1/22 Q2 Q3 Q4 Q1/23 Q2 Q3 Q4 Q1/24 Q2 Q3 Q4 Q1/25 29.4.2025
Slide 7: Change in comparable operating result
Metsä Group – Q1/2025 Change in comparable operating result EUR million Comparable operating result Q1/2024 70 Sales prices 37 Sales volumes 28 Exchange rates (after hedging) 2 Change in the unit costs of wood raw material -45 Change in the unit costs of raw material, energy and other variable costs
Slide 8: Items affecting comparability
Metsä Group – Q1/2025 Items affecting comparability EUR million Q1/2025 OPERATING RESULT (IFRS) 51 Items affecting comparability: Impairment of Tako board mill’s assets 26.7 Discontinuation of Kumpuniemen Voima Oy’s operations 4.3 Capital gain from the shares in OOO Metsä Forest St Petersburg -1.3 O
Slide 9: Comparable ROCE
Metsä Group – Q1/2025 Comparable ROCE % 20 15.8 16 15.3 12.6 Target >12% 12 8 4.4 4.0 4 0 Q1/2021 Q1/2022 Q1/2023 Q1/2024 Q1/2025 29.4.2025
Slide 10: Equity ratio
Metsä Group – Q1/2025 Equity ratio % 70 61.1 60.6 60 55.9 56.2 57.1 50 40 30 20 10 0 2021 2022 2023 2024 Q1/2025 29.4.2025
Slide 11: Interest-bearing net liabilities
Metsä Group – Q1/2025 Interest-bearing net liabilities EUR million 1 500 1,311 1,236 1 200 900 663 600 300 177 0 -185 -300 2021 2022 2023 2024 Q1/2025 29.4.2025
Slide 12: Total investments
Metsä Group – Q1/2025 Total investments EUR million 1 750 1,500 1 500 1,193 1 250 994 1 000 750 603 500 Full-year 250 estimate 99 0 2021 2022 2023 2024 Q1/2025 Includes investments in leased property, plant and equipment 29.4.2025
Slide 13: Personnel
Metsä Group – Q1/2025 Personnel 12 000 9,533 9,464 9,581 9,561 9,155 9 000 6 000 3 000 0 2021 2022 2023 2024 Q1/2025 29.4.2025
Slide 14: Wood purchases and service sales were successful in January–March
Metsä Forest – Wood Supply and Forest Services Wood purchases and service sales were successful in January–March Sales and comparable operating result • Forest owners’ customer experience and forest EUR million service sales reached a new record 800 742 35 • Wood trade in private forests was brisk i
Slide 15: The construction cycle and profitability of wood products remained weak
Metsä Wood – Wood Products Industry The construction cycle and profitability of wood products remained weak Sales and comparable operating result • Sales and delivery volumes fell due to the weak EUR million construction cycle 200 40 • The delivery volumes and sales prices of Kerto® LVL 175 162 164
Slide 16: Operating result of pulp and sawn timber industry boosted by sales prices and delivery volumes
Metsä Fibre – Pulp and Sawn Timber Industry Operating result of pulp and sawn timber industry boosted by sales prices and delivery volumes • Sales and operating result increased from the first Sales and comparable operating result EUR million quarter of 2024 due to higher sales prices and delivery v
Slide 17: Paperboard deliveries increased from the previous quarter, profitability at a low level
Metsä Board – Paperboard Industry Paperboard deliveries increased from the previous quarter, profitability at a low level Sales and comparable operating result • Paperboard and market pulp sales developed similarly EUR million to the comparison period 600 200 • Paperboard sales prices remained at la
Slide 18: Reasonable result in tissue and greaseproof papers
Metsä Tissue – Tissue and Greaseproof Papers Reasonable result in tissue and greaseproof papers • The result decreased from the comparison period Sales and comparable operating result EUR million because of lower sales volumes and higher costs. Market-based production curtailment continued 400 100 3
Slide 19: Market outlook
Summary Market outlook • The US import duties announced after the reporting period are creating uncertainty in delivery estimates • The outlook for construction remains muted, and this is reflected in the weak demand for spruce plywood in particular. However, demand for Kerto LVL products remains st
Slide 20: Near-term result outlook
Near-term result outlook • Metsä Group’s comparable operating result in April–June 2025 is expected to be weaker than in January–March 2025 29.4.2025
Slide 21: Growth, with Metsä a future
¥ - Growth, with Metsa a future