METSÄ BOARD Annual review 2024
Consolidated statement of income
Consolidated balance sheet
Business operations and value creation 2 This is Metsä Board 4 CEO’s review 6
EUR million
Note
1–12/2024
1–12/2023
EUR million
Note
31 DEC 2024
31 DEC 2023
ASSETS
Sales
2.1, 2.2, 7.3
1,938.6
1,941.9
Change in stocks of finished goods and work in progress
22.9
-57.0
Non-current assets Goodwill
Other operating income
2.3, 7.3 2.4, 7.3
77.8
79.9
Strategy and financial targets
4.1 4.1 4.2 7.2
12.2
12.2
Materials and services
-1,491.7
-1,429.5
Other intangible assets
35.0
16.1
8
Value creation
Employee costs
3
-201.6
-199.5
Property, plant and equipment
1,248.4
1,230.4
Share of result of associated company
7.2, 7.3
-8.8
24.2
Investments in associated companies and joint ventures
517.5 219.7
549.9 254.4
Depreciation, amortisation and impairment charges
4.1, 4.2
-113.6 -161.3
-93.8
Financial development 10 Key figures 12
Other investments
4.3, 5.7
Other operating expenses
2.4
-145.4
Other non-current financial assets Derivative financial instruments
5.3 5.7
4.4
6.3 1.5 9.5
Operating result
62.3
120.8
Report of the Board of Directors
Deferred tax receivables
6
5.2
Share of profit from associated companies and joint ventures
7.2
0.0
0.0 2.6 9.9
Total
2,042.4
2,080.4
20 20 37 70 89 96
• Sustainability statement
Net exchange gains/losses
5.2
-2.8
General information
Other financial income
5.2, 7.3 5.2, 7.3
9.3
Current assets Inventories
Interest and other financial expenses
-17.3
-12.4
E – Environment
4.4
472.6 278.3
394.4
Result before tax
51.4
120.9
S – Social responsibility
Trade receivables and other receivables
4.5, 7.3
251.7
Income taxes
6
-12.0
-19.3
Current income tax receivables Derivative financial instruments
9.0 9.2
7.1
G – Governance
Result for the period
39.4
101.6
5.7
30.0 291.6 974.7
Annexes to the Sustainability statement
Cash and cash equivalent
5.4, 7.3
182.6 951.7
Result for the period attributable to Shareholders of parent company
Total
25.3
94.8
98 Consolidated financial statements 102 Notes to the consolidated financial statements 150 Parent company financial statements 153 Notes to the parent company financial statements 166 The Board’s proposal to the Annual General Meeting for the distribution of funds 167 Auditor’s Report 171 Sustainability statement assurance report 173 Shares and shareholders 177 Ten years in figures 178 Taxes 179 Production capacities 181 Calculation of key ratios and comparable performance measures Corporate governance 183 Corporate governance statement 190 • Board of Directors of Metsä Board 194 • Corporate Management Team of Metsä Board
Non-controlling interest
14.1
6.8
Total assets
2,994.1
3,055.1
Total
39.4
101.6
SHAREHOLDERS’ EQUITY AND LIABILITIES
Adjusted average number of shares, thousands
354,991
354,751
Basic and diluted earnings per share for result for the period attributable to the shareholders of parent company, EUR
Equity attributable to shareholders of parent company Share capital
0.07
0.27
557.9 -82.7 137.4 208.9
557.9 -66.0 209.1 208.9
Translation differences
Consolidated statement of comprehensive income
Fair value and other reserves
Reserve for invested unrestricted equity
Treasury shares Retained earnings
-3.7
-5.5
EUR million
Note
1–12/2024
1–12/2023
925.2
992.6 1,897.0
Other comprehensive income Items that will not be reclassified to profit or loss Actuarial gains/losses on defined benefit pension plans Financial assets at fair value through other comprehensive income Share of profit from other comprehensive income of associated company
Total
1,743.0
5.1 3.4 4.3
Non-controlling interests Total shareholders' equity
164.7
155.6
-0.9
-1.0
5.1
1,907.7
2,052.6
-35.4
-87.8
Non-current liabilities Deferred tax liabilities
-3.4
6
123.2
139.2
Income tax relating to items that will not be reclassified
7.4
18.5
Post employment benefit obligations
3.4 4.8
8.1 1.7
10.1
Total
-28.9
-73.6
Provisions Borrowings
1.7
5.5, 5.6, 5.7
411.9
421.0
Items that may be reclassified to profit or loss
5.1
Other liabilities
4.6
5.6
8.7
Cash flow hedges
-39.1 -21.7 -13.8
8.2
Total
550.6
580.7
Translation differences
-2.8 -5.7 -1.6 -1.9
Current liabilities Provisions
Share of profit from other comprehensive income of associated company
4.8
1.4
Income tax relating to items that may be reclassified
7.8
Current borrowings
5.5, 5.6, 5.7
115.5
17.1
Total
-66.8 -95.7 -56.2
Trade payables and other liabilities
4.7, 7.3
390.6
377.5
Other comprehensive income, net of tax Total comprehensive income for the period
-75.6
Current income tax liabilities
0.0
15.8 10.2
26.1
Derivative financial instruments
5.7
29.7
Total
535.8
421.8
Total comprehensive income for the period attributable to Shareholders of parent company
-65.4
20.7
Total liabilities
1,086.4 2,994.1
1,002.5 3,055.1
Non-controlling interest
9.1
5.4
Total shareholders' equity and liabilities
Total
-56.2
26.1
196 Remuneration report 201 Investor relations and investor information
98
99
Consolidated financial statements | METSÄ BOARD ANNUAL REVIEW 2024
Powered by FlippingBook