Inside information, profit warning: Metsä Board's comparable operating result for January–March 2023 will be weaker than previously estimated

Metsä Board Corporation Stock Exchange Release Inside information 12 April 2023 at 9 a.m. EEST

Metsä Board, part of Metsä Group, estimated in its Financial statements bulletin 2022 published on 9 February 2023 that the company's comparable operating result for January-March 2023 would be roughly at the same level as in October–December 2022. The comparable operating result for October-December 2022 was EUR 100.8 million.

Metsä Board's comparable operating result for January–March 2023 is estimated to be approximately EUR 89 million.

The lower-than-estimated operating result was particularly affected by the weakened demand situation for market pulp in both Europe and China. In Europe, demand for market pulp was reduced by prolonged production shutdowns by paper and paperboard producers as the value chain continued to adjust inventories. In China, the economic recovery has been weaker than expected.

Metsä Board has also adjusted its paperboard production to meet demand, and production in the first quarter of 2023 was below capacity level. Paperboard delivery volumes decreased from the previous quarter.

Metsä Board will publish its Interim Report for January–March 2023 on 27 April 2023 at 12:00 EEST.

METSÄ BOARD CORPORATION