METSÄ BOARD Annual review 2024
Property, plant and equipment 2024
Property, plant and equipment 2023
Land and water areas
Buildings and constructions
Machinery and equipment
Land and water areas
Buildings and constructions
Machinery and equipment
EUR million
Owned
Leased
Owned
Leased
Owned 2,997.6
Leased
EUR million
Owned
Leased
Owned
Leased
Owned 2,782.3
Leased
Business operations and value creation 2 This is Metsä Board 4 CEO’s review 6
Acquisition cost, 1 Jan. Translation differences
16.1 0.0
1.1
504.9
9.9 0.3 2.6
16.9 -0.2
Acquisition cost, 1 Jan. Translation differences
12.4
2.4
472.4
12.2
17.5 0.0
-6.0 17.8
-51.8 98.2 -9.3 50.1
0.0 4.8 -1.1
0.7
0.0
8.8
Additions Decrease
0.5
8.5
Additions Decrease
16.2 -1.8 17.4
3.1
222.6
2.6
-0.1 0.0 16.0
2.1 2.1
-0.3
-4.9
-1.3
-5.4
21.5
-3.2
Transfers between items Acquisition cost, 31 Dec.
Transfers between items Acquisition cost, 31 Dec.
-37.6
Strategy and financial targets
1.6
521.0
12.4
3,084.8
20.2
16.1
1.1
504.9
9.9
2,997.6
16.9
8
Value creation
Accumulated depreciation and impairment charges 1 Jan.
-0.4
-0.8
-290.4
-5.3
-2,092.9
-9.4
Accumulated depreciation and impairment charges 1 Jan.
-0.4
-0.7
-281.7
-8.4
-2,063.3
-8.3
Translation differences
0.0
2.9 0.3
-0.1
31.3
0.1
Translation differences
0.0
-0.3
0.1
-2.3 47.5
0.0
Financial development 10 Key figures 12
Accumulated depreciation on deductions and transfers
0.3
8.3
4.5
Accumulated depreciation on deductions and transfers
0.1
1.6
5.2
3.2
Depreciation for the period
-0.2 -0.9
-10.8
-2.2 -7.3
-85.7
-4.4 -9.2
Depreciation for the period
-0.2 -0.8
-10.0
-2.3 -5.3
-74.8
-4.3 -9.4
Accumulated depreciation and impairment charges 31 Dec.
-0.4
-297.9
-2,139.0
Accumulated depreciation and impairment charges 31 Dec.
-0.4
-290.4
-2,092.9
Report of the Board of Directors
Book value, 1 Jan.
15.7
0.4
214.6
4.5
904.7 945.8
7.4
Book value, 1 Jan.
12.0
1.7
190.7 214.6
3.9 4.5
719.0
9.2
20 20 37 70 89 96
• Sustainability statement
Book value, 31 Dec.
15.5
0.7
223.0
5.1
11.0
Book value, 31 Dec.
15.7
0.4
904.7
7.4
General information
E – Environment
S – Social responsibility
Other tangible assets
Construction in progress
Other tangible assets
Construction in progress
G – Governance
Total
Total
Total
Total
Annexes to the Sustainability statement
EUR million
Owned
Owned
Owned 3,617.5
Leased
Total
EUR million
Owned
Owned
Owned 3,453.3
Leased
Total
Acquisition cost, 1 Jan. Translation differences
27.5 -0.4
71.4 -0.8 16.8
27.8
3,645.3
Acquisition cost, 1 Jan. Translation differences
23.0
163.2
32.1 -0.1
3,485.5
-59.0 136.0
0.0
-59.0 147.6
0.2 4.6
-2.2
7.5
7.4
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
Additions Decrease
3.2
11.6
Additions Decrease
-36.7 -73.1 20.1
211.5
5.7
217.2 -64.7
1.1
-2.8
-9.0
-5.3
-14.3
-0.3
-54.8
-9.9
Transfers between items Acquisition cost, 31 Dec.
0.3
-52.6 32.0
Transfers between items Acquisition cost, 31 Dec.
-0.1
-0.1
31.7
3,685.5
34.2
3,719.7
27.5
71.4
3,617.5
27.8
3,645.3
Accumulated depreciation and impairment charges 1 Jan.
-15.7
-2,399.4
-15.5
-2,414.9
Accumulated depreciation and impairment charges 1 Jan.
-14.8
-2,360.2
-17.4
-2,377.6
Translation differences
0.2
34.5
0.0
34.4
Translation differences
0.0
-2.6
0.1
-2.5
Accumulated depreciation on deduction and transfers
0.0 -1.0
8.6
4.9
13.4
Accumulated depreciation on deduction and transfers
0.0
49.0
8.5
57.5
Depreciation for the period
-97.5
-6.8 -17.4
-104.2
Depreciation for the period
-0.9 -15.7
-85.6
-6.7
-92.4
Accumulated depreciation and impairment charges 31 Dec.
-16.4
-2,453.8
-2,471.3
Accumulated depreciation and impairment charges 31 Dec.
-2,399.4
-15.5
-2,414.9
Book value, 1 Jan.
11.8
71.4
1,218.1 1,231.7
12.3 16.8
1,230.4 1,248.4
Book value, 1 Jan.
8.2
163.2
1,093.2
14.7
1,107.9
Book value, 31 Dec.
15.3
32.0
Book value, 31 Dec.
11.8
71.4
1,218.1
12.3
1,230.4
Leases
Impairments Year 2024, the impairment losses include EUR -7.6 million from the write- down of the Kaskinen folding boxboard mill’s preliminary study. Borrowing costs Borrowing costs capitalised totalled to EUR 0.0 million (2.0). The average interest rate used in capitalisation was 0.0% (1.9%).
EUR million
2024
2023
Costs related to short-term leases
-0.3
-0.3
Costs of leases in which the underlying asset is of low value
-2.2
-2.2
Interest expenses
-0.5 -7.3
-0.4 -7.6
Cash outflow for leases
Disclosures on lease liabilities are presented in Note 5.5 (Financial liabili- ties) and 5.6 (Management of financial risks).
196 Remuneration report 201 Investor relations and investor information
120
121
Consolidated financial statements | METSÄ BOARD ANNUAL REVIEW 2024
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