METSÄ BOARD Annual review 2023
Parent company’s financial statements ■ Income statement
Parent company ■ Balance sheet
Business operations and value creation 2 This is Metsä Board 4 CEO’s review 6
EUR
Note
31.12.2023
31.12.2022
EUR
Note
31.12.2023
31.12.2022
EUR
NOTE
1.1.–31.12.2023
1.1.–31.12.2022
EQUITY AND LIABILITIES SHAREHOLDERS’ EQUITY
ASSETS NON-CURRENT ASSETS Intangible assets
Sales
2
1,239,168,327.91 -59,575,562.56
1,572,707,178.40
12
Strategy and financial targets
Change in stocks of finished and unfinished products
3, 4
43,724,591.06
Share capital
557,881,540.40 557,881,540.40
9
8
Value creation
Other operating income
Other reserves Reserve for invested unrestricted equity
Intangible assets
11,089,921.66 11,360,766.54
81,035,662.81
91,648,078.56
210,639,481.81 210,639,481.81 195,273,187.14 259,659,751.43 192,906,977.09 287,026,854.12 111,620,817.49 1,272,037,404.85 1,426,828,445.25 115,336,218.41
Other intangible assets
512,038.25
432,011.17
Materials and services Materials, consumables and goods
Value adjustment reserve
Advance payment and construction in progress
Financial development 10 Key figures 12
8,256,659.20
133,093.84
Profit/loss for previous financial periods Profit/loss for the financial period
19,858,619.11
11,925,871.55
Purchases during the financial period
-735,583,407.40
-1,091,988,355.22
Changes in stocks
11,327,074.69
3,368,182.68
Report of the Board of Directors
Property, plant and equipment
9
External services
5 5
-204,945,195.88 -101,494,562.44 -50,438,167.30 -117,576,834.01 -1,198,711,092.34
-255,741,958.55 -106,360,648.15 -48,392,956.43 -112,597,632.50 -1,611,713,368.17
20 72
• Sustainability statement • Sustainability statement assurance report
Land and water areas
30,046,780.31
26,340,436.42
Employee costs
APPROPRIATIONS Accumulated depreciation difference
Buildings and constructions Machinery and equipment
142,309,889.82 127,095,989.94 259,941,625.99 239,929,037.57
Depreciations and impairment charges
3, 6 3, 5
6 200,356,593.10 176,002,120.56
Other operating expenses
Other tangible assets
6,835,013.27
7,629,729.80
PROVISIONS
13 2,758,948.00 2,729,857.00
74
Consolidated financial statements
Advance payment and construction in progress
43,361,374.25 60,459,586.34
Operating profit/loss
61,917,335.82
96,366,479.85
LIABILITIES Non-current liabilities
78 Notes to the consolidated financial statements 126 Parent company financial statements 129 Notes to the parent company financial statements 142 The Board’s proposal to the Annual General Meeting for the distribution of funds 143 Auditor’s Report 147 Shares and shareholders 151 Ten years in figures 152 Taxes 153 Production capacities 155 Calculation of key ratios and comparable performance measures Corporate governance 157 Corporate governance statement 165 • Board of Directors of Metsä Board 168 • Corporate Management Team of Metsä Board
482,494,683.64 461,454,780.07
15
Financial income and expenses Income from group companies
7
Bonds
249,685,345.02 249,601,391.02 164,705,882.36 176,470,588.24
Investments
10
103,927,858.98
68,282,404.82
Loans from financial institutions
Shares in group companies
529,953,996.10 534,406,191.31 288,654,833.04 290,412,859.87 86,429,409.33 86,429,409.33 253,698,707.84 344,817,070.84 1,158,736,946.31 1,256,065,531.35
Income from investments in other non-current assets
945.00
323,118.23 37,044.13
Advance payments Deferred tax liability
7,354,456.51
1,082,432.07
Receivables from group companies Shares in associated companies
Other interest and financial income
301,640.04
8, 14 48,266,450.66 64,368,909.96
Exchange rate differences
-5,398,633.64 -13,215,197.30 85,616,613.08
-24,823,074.91 -11,243,159.60 32,576,332.67
Other liabilities
865,945.59 2,399,500.74 470,878,080.14 493,922,822.03
Other shares and holdings
Interest expenses and other financial expenses
Current liabilities
16
Total non-current assets
1,661,090,249.06 1,729,446,182.97
Profit/loss before appropriations and taxes
147,533,948.90
128,942,812.52
Pension premium loans
11,764,705.88 11,764,705.88
Appropriations Change in depreciation differences
Advance payments
4,687,512.48
3,756,180.63
CURRENT ASSETS Inventories Materials and consumables
6
-24,354,472.54
-11,697,827.98
Trade payables
122,711,978.74 175,417,664.49 94,701,965.84 88,896,086.27 6,832,689.40 7,699,014.97 58,777,075.75 65,809,346.27 299,475,928.09 353,342,998.51
Group contribution Income taxes
Liabilities to group companies
8
-7,843,257.95
-5,624,167.05
64,903,754.79 53,576,680.10 138,086,563.02 197,662,125.58 15,432,257.27 202,990,317.81 266,671,062.95
Other liabilities
Finished products Advance payments
Accruals and deferred income
Profit/loss for the financial period
115,336,218.41
111,620,817.49
Total liabilities
770,354,008.23 847,265,820.54
Receivables from group companies Receivables from group companies
37,596,485.20 38,878,585.67 37,596,485.20 38,878,585.67
TOTAL SHAREHOLDES' EQUITY AND LIABILITIES
2,245,506,954.18 2,452,826,243.35
Current receivables
11
Trade receivables
115,699,537.58 156,737,059.46 196,956,199.22 182,648,251.13
Receivables from group companies Receivables from associated companies
195,710.12
98,183.87
Other receivable
15,553,670.54 23,337,352.03 5,097,591.69 41,637,891.74 333,502,709.15 404,458,738.23
Prepayments and accrued income
170 Remuneration report 174 Investor relations and investor information
Total receivables
371,099,194.35 443,337,323.90
Cash and cash equivalents
10,327,192.96 13,371,673.53 584,416,705.12 723,380,060.38
Total current assets
TOTAL ASSETS
2,245,506,954.18 2,452,826,243.35
126
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Parent company financial statements | METSÄ BOARD ANNUAL REVIEW 2023
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