BUSINESS OPERATIONS AND VALUE CREATION
SUSTAINABILITY REPORT
FINANCIAL DEVELOPMENT
GOVERNANCE
Book value EUR
Country
Holding, %
Number of shares
Subgroup in other countries Metsä Board Sverige Ab Husum Pulp Ab
Sweden
100.00
85,664
190,246,200.28
Material subsidiaries Metsä Board has two material subsidiaries:
• Metsä Board Sverige AB Metsä Board Sverige AB is located in Örnsköldsvik, Sweden. Metsä Board Sverige AB produces folding boxboard and kraftliner. Metsä Board Sverige AB’s sales were EUR 642 million (446). The company’s capacity is 250,000 tonnes of liner and 400,000 tonnes of folding boxboard.
• Husum Pulp AB Husum Pulp AB produces pulp for Metsä Board Sverige Ab and to the market. The company’s sales were EUR 560 million (379) and capacity 730,000 tonnes of chemical pulp. A 30% minority stake in the company was sold to the Swedish forest owners’ cooperative Norra Skog and the transaction was completed on January 4, 2022.
Non-controlling interest’s shares Principal non-controlling interest’s shares
Non-controlling interest Holding, %
Non-controlling interest Share of result, EUR million
Non-controlling interest Share of equity, EUR million
EUR million
Country
2022
2021
2022
2021
2022
2021 146.2
Husum Pulp AB
Sweden
30.0%
30.0%
51.4
21.9
173.2
Business transactions with non-controlling interest
Summary of financial information of subsidiaries with a substantial non-controlling interest
Husum Pulp Ab
Accounting principles Changes in the parent company’s holdings in subsidiaries that do not cause the parent company to lose its control over the subsidi- ary are processed as business transactions concerning equity.
EUR million
2022
2021
Sales
378.8
Result for the period
75.3 22.6
Non-controlling interest’s share of the result
Non-controlling interest’s share of the total comprehen- sive result
-1.5
Dividends paid to non-controlling interest
The sale of a 30 percent stake in the Husum pulp mill to Norra Skog was completed on January 4, 2022. Following the arrangement, the non-controlling interests’ share inceased by EUR 125.7 million and retained earnings by EUR 134.4 million In 2022 and 2021 there were no other significant acquisitions or sales of non-controlling interests.
Non-current assets
313.2 273.7
Current assets
Non-current liabilities
7.1
Current liabilities
85.4
Net assets
494.3
Net cash flow from operating activities Net cash flow arising from investing activities Net cash flow arising from financing activities
68.8
Impact on parent company’s equity from transactions with non-controlling interest:
-133.8 190.2 125.3
Change in cash and cash equivalents
EUR million
2022
2021
The numbers are presented before eliminations.
The sale of a 30 percent stake in the Husum pulp mill, Husum Pulp AB Net effect in equity
134.4
136
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