METSÄ BOARD Annual review 2024
5.4 Cash and cash equivalents
Changes in liabilities and current interest-bearing receivables reported in the cash flow from financing activities in 2024
Non-cash changes
EUR million
2024
2023
Acquired / Sold businesses
Changes in foreign exchange rates
Business operations and value creation 2 This is Metsä Board 4 CEO’s review 6
New finance
Cash at hand and in bank
3.4
13.2
Accounting principles In addition to cash and bank accounts, cash and cash equivalents include liquid financial assets recorded at amortised cost that mature within less than 6 months from the acquisition date. Cash and cash equivalents also include interest-bearing, immediately withdrawable deposits held in Metsä Group’s internal bank, Metsä Group Treasury Oy. When determining the impairment of monetary assets, a model based on expected credit losses is applied. The expected credit losses are reviewed for the following 12 months.
EUR million
1 Jan 2024 Cash flows
leases Other changes 31 Dec 2024
Deposits to Metsä Group Treasury Oy
179.2 182.6
278.4 291.6
Non-current interest-bearing liabilities incl. Current portion Bonds
Total
249.2 176.1
0.2 0.2
249.4 164.4
Loans from financial institutions
-12.0
Finance lease liabilities
12.8
-6.7 0.0
0.0
11.2
17.2 0.0
Strategy and financial targets
Other
0.0
8
Value creation
Total
438.1
-18.7
0.0
11.2
0.4
431.0
Non-current non-interest bearing liabilities
8.7
-3.1
0.0 0.7 0.7
5.6
Financial development 10 Key figures 12
Current interest-bearing liabilities
95.8 73.9
96.4
Total
446.8
11.2
0.4
533.0
Report of the Board of Directors
20 20 37 70 89 96
• Sustainability statement
Changes in liabilities and current interest-bearing receivables reported in the cash flow from financing activities in 2023
General information
Non-cash changes
E – Environment
Acquired / Sold businesses
Changes in foreign exchange rates
S – Social responsibility
New finance
EUR million
1 Jan 2023 Cash flows
leases Other changes 31 Dec 2023
G – Governance
Non-current interest-bearing liabilities incl. Current portion Bonds
5.5 Borrowings and net debt
Annexes to the Sustainability statement
249.0 187.6
0.2 0.3
249.2 176.1
Loans from financial institutions
-11.8
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
Finance lease liabilities
15.9
-7.1 0.0
0.0
4.0
12.8
Other
0.0
0.0
Accounting principles Financial liabilities are categorised initially recognised at fair value. The Group has classified all financial liabilities under “Amortised cost”. Trans- action costs are included in the original book value of financial liabilities measured at amortised cost. Subsequently, all financial liabilities are measured at amortised cost using the effective interest method.
Total
452.6
-18.9
0.0
4.0
0.5
438.1
Non-current non-interest bearing liabilities
3.9 0.4
4.7
0.0 0.0 0.0
8.7 0.0
Current interest-bearing liabilities
-0.4
Total
456.9
-14.6
4.0
0.5
446.8
Interest-bearing Liabilities
Interest-bearing assets
EUR million
2024
2023
EUR million
2024
2023
Non-current interest-bearing financial liabilities Bonds
Non-current interest-bearing financial assets Loan and other receivables
249.4 152.6
249.2 164.4
0.0
2.5
Loans from financial institutions
Current interest-bearing financial assets Cash at hand and in bank Deposits to Metsä Group Treasury Oy
Lease liabilities
9.9
7.5
Bonds
Total
411.9
421.0
3.4
13.2
EUR million 2017–2027
Interest % 2024
2023 249.2 249.2
179.2 182.6
278.4 291.6
2.75
249.4 249.4
Current interest-bearing financial liabilities Commercial papers
Total
Total
29.7 19.1 66.7 115.5
Current portion of non-current debt Current liabilities to group companies
17.1
Interest-bearing financial assets total
182.6
294.0
Metsä Board Corporation issued in September 2017 a bond of EUR 250 million. The bond carries a fixed coupon rate of 2.75%, and the maturity date is 29 September 2027. The bond ranks senior and is unsecured.
Interest-bearing net debt
344.9
144.0
Total
17.1
Current interest-bearing financial liabilities
527.4
438.1
Metsä Board has classified interest-bearing receivables comparable to cash funds and available immediately from Metsä Group’s internal bank Metsä Group Treasury Oy as Cash and cash equivalents.
196 Remuneration report 201 Investor relations and investor information
130
131
Consolidated financial statements | METSÄ BOARD ANNUAL REVIEW 2024
Powered by FlippingBook