Metsä Board Annual and sustainability report 2022

Metsä Board is Europe’s largest producer of folding boxboard and white kraftliners

Metsä Board is the biggest producer of coated white kraftliners globally.

PRODUCERS OF FOLDING BOXBOARD IN EUROPE Total capacity 4.0 million tonnes

PRODUCERS OF WHITE KRAFTLINERS IN EUROPE Total capacity 2.1 million tonnes (excl. Russia)

Metsä Board ������������������ 34% Peer 1 ������������������������������� 21% Peer 2 ����������������������������� 20% Peer 3 ������������������������������� 6% Peer 4 ������������������������������� 5% Others ����������������������������� 14%

Metsä Board ������������������ 32% Peer 1 ������������������������������ 25% Peer 2 ������������������������������ 14% Peer 3 ������������������������������ 12% Peer 4 ������������������������������ 10% Peer 5 �������������������������������� 7%

Sources: the companies’ websites, RISI, Metsä Board’s own estimates

Pulp market

Megatrends drive long-term demand for sustainably produced pulp

Globally, about 181 million tonnes of pulp made from fresh fibre is used each year, of which 112 million tonnes is pre-integrated into e.g. paper or board production. The remainder, 69 million tonnes, is sold to the market, and consists mainly of bleached softwood and hardwood pulp. Demand and prices for pulp can vary from year to year and are influenced, among others, by the general economic situation. In the long term, megatrends such as urbanisation and emerging economies will support demand for sustainably produced pulp. Demand growth will be sustained by the development of tissue and packaging board products. Also new products, such as pulp-based textile fibres will play an increasingly important role in the future. Market pulp supply has been limited in recent years by logistical bottlenecks and a number of planned and unplanned production stoppages.


1,600 1,400 1,200 1,000

800 600 400

12 13 14 15 16 17 18 19 20 21 22

Europe China (net)

Source: Fastmarkets Foex

Metsä Board’s associated company Metsä Fibre is a leading producer of market softwood pulp (NBSK)

3.3 million tonnes of pulp and 1.8 million cubic metres of sawn timber. The pulp produced by Metsä Board and Metsä Fibre is primarily softwood pulp. Metsä Fibre is constructing a new bioproduct mill in Kemi. Its annual capacity is approximately 1.5 million tonnes of softwood and hardwood pulp The mill is expected to be completed in 2023, and it will replace the current pulp mill in Kemi, which has an annual capacity of around 610,000 tonnes.

Metsä Board aims to be self-sufficient in pulp, which ensures consistently high quality in paperboard production. Metsä Board produces chemical pulp and bleached high-yield pulp (BCTMP), which are used in our own paperboard production and sold as market pulp. In addition, Metsä Board has 24.9% holding in its associated company Metsä Fibre, which is a leading producer of wood-based bioproducts such as pulp, sawn timber, biochemicals and bioenergy. Metsä Fibre’s annual capacity is approximately



Paperboards ������������������ 35% Printing papers ������������� 27% Tissue papers ���������������� 30% Speciality papers ������������ 8%

Europe ���������������������������� 46% APAC ������������������������������� 44% MEA, Americas �������������� 10%


Business operations and value creation | METSÄ BOARD ANNUAL AND SUSTAINABILITY REPORT 2022

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