Metsä Board Annual and sustainability report 2022

■ 5.2 Financial income and expenses

■ 5.3 Other financial assets

EUR million



Other non-current financial assets Loan receivables Defined benefit pension plans (Note 3.5) Other receivables and accrued income

Accounting principles Interest income and expenses are recognised using the effective interest rate method. Dividend income is recognised when the right to receive a payment is established. Borrowing costs are generally recognised as an expense in the period in which they are incurred. When an item of property, plant or equipment is involved in a major and long-term investment project, the borrowing costs directly due to the acquisition, construction or production of the asset are included in the asset’s acquisition cost. The Group presents net interest income and expenses related to defined benefit plans as financial income and expenses.

2.3 3.4 0.3 6.0






EUR million



Exchange differences Commercial items


4.9 -7.2 0.0 -2.3

Hedging, hedge accounting not applied

-10.1 -0.6 -5.0

Other items

Exchange differences total

Other financial income Interest income on loans, other receivables and cash and cash equivalents



Dividend income

0.3 3.0

0.0 0.2

Other financial income total

Valuation of financial assets and liabilities Impairment gains and losses from financial assets Gains and losses on derivatives, hedge accounting not applied Valuation total



Interest expenses on financial liabilities carried at amortised cost using the effective interest method



Other financial expenses

-0.8 -4.7

-0.9 -7.9

Interest and other financial expenses, total

Valuation of financial assets and liabilities and interest and other financial expenses, total



The Russian ruble-denominated translation differences accumulated since June 2022 as a consequence of the discontinuation of Russian business operations, amounting to EUR -0.5 million, have been reported in other exchange rate differences in the income statement.


Consolidated financial statements | METSÄ BOARD ANNUAL AND SUSTAINABILITY REPORT 2022

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