Metsä Board Annual and sustainability report 2022

BUSINESS OPERATIONS AND VALUE CREATION

SUSTAINABILITY REPORT

FINANCIAL DEVELOPMENT

GOVERNANCE

Consolidated statement of comprehensive income

EUR million

Note

1–12/2022

1–12/2021

Sales

2.1, 2.2, 7.3

2,479.6

2,084.1

Change in stocks of finished goods and work in progress

70.1

11.9

Other operating income

2.3, 7.3 2.4, 7.3

79.6

57.0

Materials and services

-1,824.3

-1,461.0

Employee costs

3

-217.4

-216.0

Share of result of associated company

7.2, 7.3

163.1

114.4

Depreciation, amortisation and impairment charges

4.1, 4.2

-83.1

-90.2

Other operating expenses

2.4

-136.1

-124.4

Operating result

531.5

375.9

Share of profit from associated companies and joint ventures

7.2

0.0

0.0

Net exchange gains/losses

5.2

-5.0

-2.3

Other financial income

5.2, 7.3 5.2, 7.3

3.0

0.2

Interest and other financial expenses

-4.7

-7.9

Result before tax

524.9

365.8

Income taxes

6

-63.5

-51.8

Result for the period

461.3

314.0

Other comprehensive income

Items that will not be reclassified to profit or loss

5.1

Actuarial gains/losses on defined benefit pension plans

3.4

-4.7

3.0

Financial assets at fair value through other comprehensive income

4.3

178.5

-5.8

Share of profit from other comprehensive income of associated company

3.0

-0.1

Income tax relating to items that will not be reclassified

-33.9

-0.8

Total

142.9

-3.7

Items that may be reclassified to profit or loss

5.1

Cash flow hedges

-3.1

-11.0 -4.8 -3.8

Translation differences

-56.3

Share of profit from other comprehensive income of associated company

28.1

Income tax relating to items that may be reclassified

0.6

2.2

Total

-30.6

-17.4

Other comprehensive income, net of tax

112.2

-21.1

Total comprehensive income for the period

573.6

292.8

Result for the period attributable to Shareholders of parent company

409.9

292.1

Non-controlling interest

51.4

21.9

461.3

314.0

Total comprehensive income for the period attributable to Shareholders of parent company

535.7

272.4

Non-controlling interest

37.8

20.4

573.6

292.8

Adjusted average number of shares, thousands

355,359

355,513

Basic and diluted earnings per share for result for the period attributable to the shareholders of parent company, EUR

1.15

0.82

The notes are an integral part of these financial statements.

90

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