METSÄ BOARD Annual review 2023
Taxes
Production capacities
Business operations and value creation 2 This is Metsä Board 4 CEO’s review 6
Metsä Board’s board mills
Metsä Board’s business generates taxes that 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 complying with international transfer pricing guidelines and local tax laws and regulations in all its operating countries. In accordance with the arm’s length principle, majority of taxable income and corporate income taxes to be paid are allocated to the countries where the Group’s most significant operations are located. In accordance with its tax policy, Metsä Board’s business models and legal structures must always be based on business reasons and real business substance. Metsä Board will refrain from artificial ways to reduce its taxes.
Metsä Board’s cooperation with tax authorities is transparent and active. In Finland, Metsä Board participates in enhanced cooperation with Finnish Tax Administration. Tax matters are managed by Metsä Board’s tax function and taxes are in the scope of regular follow-up of Audit Committee of the Board of Directors of Metsä Board. In order to increase the transparency of its tax matters, we voluntarily publish information on taxes and tax-like payments imposed on Group companies in our tax footprint. 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.
Folding boxboard 210,000 190,000 260,000 300,000
White kraftliner
Tonnes
Country Finland Finland Finland Finland Finland Sweden
Machines
Total
Tampere (Tako) Kyröskoski (Kyro)
2
210,000 190,000 260,000 300,000 465,000 850,000
Strategy and financial targets
1 1 1 1
8
Value creation
Äänekoski
Simpele
Financial development 10 Key figures 12
Kemi
465,000 250,000
Husum
2 8
600,000 1,560,000
Total
715,000 2,275,000
Report of the Board of Directors
20 72
• Sustainability statement • Sustainability statement assurance report
Metsä Board’s pulp and BCTMP mills Tonnes
Country Sweden Finland Finland Finland
Chemical pulp
BCTMP
Total
Husum
730,000
730,000 360,000 390,000 180,000
74
Consolidated financial statements
Joutseno Kaskinen
360,000 390,000
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
Kemi Total
180,000 910,000
750,000 1,660,000
Paid taxes
Metsä Fibre’s pulp mills 1) Tonnes
Finland
Sweden
Other countries
Total
Country Finland Finland Finland Finland
Chemical pulp
Total
EUR million
2023
2022
2023
2022
2023
2022
2023
2022
Äänekoski
1,300,000 1,500,000 2)
1,300,000 1,500,000 2)
Corporate income taxes
8.3
5.7
0
26.7 14.5
4.7 3.6
4.5 4.1
13
36.9 47.9 10.4
Kemi
Payroll related taxes and contributions
27.9
29.4
14.7
46.3
Rauma
650,000 690,000
650,000 690,000
Operational taxes
2.2 0.5
4.1 0.6
2.4
6.2
0
0
4.7 0.6
Other taxes
0
0
0.2 8.6
0.2 8.7
0.8
Joutseno
Total
38.9
39.8
17.2
47.5
64.6
96.0
Total 2)
4,140,000 2)
4,140,000 2)
1) Metsä Board owns 24.9% of Metsä Fibre 2) The capacity includes production capacity of unbleached pulp, 180,000 t/y, owned by Metsä Board.
170 Remuneration report 174 Investor relations and investor information
152
153
Production capacities | METSÄ BOARD ANNUAL REVIEW 2023
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