Taxes
Metsä Board’s business generates taxes to finance public society. In addition to taxes and tax-like payments we pay as a taxpayer our value chain generates various other taxes. Considering all directly and indirectly generated taxes and tax-like pay- ments arising from Metsä Board’s operations, our economic contribution to surrounding society is material. Metsä Board is committed to follow international transfer pricing guide- lines and local tax laws and regulations in all of its operating countries. Majority of Metsä Board’s management, production and other functions are located in Finland, thus most of the corporate taxes are paid in Finland. Based on our Board Tax Policy Metsä Board’s business models and structures shall always be based on business reasons and real substance.
We refrain from artificial means to decrease our tax cost. Metsä Board’s cooperation with tax authorities is transparent and active. In Finland Metsä Board participates in enhanced cooperation with Finnish Tax Administration. Tax issues are managed by Metsä Board’s tax function and taxes are in the scope of Board of Directors’ Audit Committee’s regular follow-up. Metsä Fibre’s share of result Metsä Board’s consolidated result includes associated company Metsä Fibre’s result share (24.9% ownership). Metsä Fibre pays corporate income taxes on its own results and Metsä Board consolidates the result share on post-tax basis.
Taxes to be paid
Finland
Sweden
Other countries
Total
EUR million
2022
2021 25.4 29.5
2022
2021 20.8 14.7
2022
2021
2022
2021
Direct taxes on Corporate income Payroll related taxes and contributions
5.7
26.7 14.5
4.5 4.1 0.0 0.2 8.7
5.6 3.5 0.0 0.2 9.2
36.9 47.9 10.4
51.8 47.6
29.4
Operational taxes
4.1 0.6
4.1 0.3
6.2 0.0
4.8 0.0
8.9 0.5
Other taxes
0.8
Total
39.8
59.4
47.5
40.2
96.0
108.8
Quarterly data
Full year
Quarterly
EUR million
2022
2021 IV/2022 III/2022 II/2022 I/2022 IV/2021 III/2021
II/2021
I/2021
Sales
2,479.6 2,084.1
599.8
647.3
650.5
582.0
518.5
516.1
555.8
493.7
2022 520.7
2021 IV/2022 III/2022 II/2022 I/2022 IV/2021 III/2021
II/2021
I/2021
Operating result, comparable
386.6
100.8
152.5
145.9
121.5
91.3
104.0
102.5
88.8
2022 531.5
2021 IV/2022 III/2022 II/2022 I/2022 IV/2021 III/2021
II/2021
I/2021
Operating result
375.9
94.7
153.4
142.6
140.7
90.8
99.4
103.7
82.0
Share of profit from associated companies
0.0
0.0
0.0 -1.8
0.0
0.0
0.0
0.0
0.0
0.0 -1.1
0.0
Exchange gains/losses
-5.0
-2.3
-0.5 -0.6
-2.3 -0.3
-0.4
-0.6
-0.3 -2.8 96.4
-0.4 -2.7 78.9
Other financial income and expenses
-1.7
-7.7
0.5
-1.2
0.6
-2.8
Result before tax
524.9
365.8
93.4
152.4
140.0
139.1
90.7
99.8
2022
2021 IV/2022 III/2022 II/2022 I/2022 IV/2021 III/2021
II/2021
I/2021
Operating result, % of sales
21.4
18.0
15.8
23.7
21.9
24.2
17.5
19.3
18.6
16.6
Full year
Quarterly
1,000 t
2022
2021 IV/2022 III/2022 II/2022 I/2022 IV/2021 III/2021
II/2021
I/2021
Deliveries Folding boxboard
1,208
1,296
285 133 105
308 146 124
308 164 152
307 166 122 187
300 143 120 203
319 156 104 178
348 166 156
329
White kraftliner
609 503
627 496 762
162
Metsä Fibre’s pulp 1) Metsä Board’s pulp
116
717
162
177
192
185
196
2022
2021 IV/2022 III/2022 II/2022 I/2022 IV/2021 III/2021
II/2021
I/2021
Production Folding boxboard
1,272
1,272
264 133 319 190
337
336
335
295
317 155 335 184
318 160 329
342
White kraftliner
605
634
147
164
162
155
164
Metsä Fibre’s pulp 1) Metsä Board’s pulp
1,409
1,362
360
362
368
335 183
362 186
731
747
190
171
181
194
1) Corresponds to Metsä Board’s ownership of 24.9 per cent in Metsä Fibre.
167
Key figures | METSÄ BOARD ANNUAL AND SUSTAINABILITY REPORT 2022
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