METSÄ BOARD Annual review 2024
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 The income taxes paid by Metsä Board vary according to Metsä Board group’s business results. Even when the result is weaker and payable income taxes are lower, the combined contribution to public finances of all taxes and tax-like payments, directly and indirectly arising from Metsä Board’s business operations, is significant. 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 Metsä Board 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, Metsä Board voluntarily publish information on taxes and tax-like payments imposed on Group companies in our tax footprint. Metsä Fibre’s share of result 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 20 37 70 89 96
• Sustainability statement
Metsä Board’s pulp and BCTMP mills Tonnes
General information
Country Sweden Finland Finland Finland
Chemical pulp
BCTMP
Total
E – Environment
Husum
730,000
730,000 360,000 390,000 180,000
S – Social responsibility
Joutseno Kaskinen
360,000 390,000 180,000
G – Governance
Annexes to the Sustainability statement
Kemi Total
730,000
750,000 1,660,000
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
Metsä Fibre’s pulp mills 1) Tonnes
Country Finland Finland Finland Finland
Chemical pulp
Total
Paid taxes
Äänekoski
1,300,000 1,500,000 650,000 690,000 4,140,000
1,300,000 1,500,000 650,000 690,000 4,140,000
Finland
Sweden
Other countries
Total
Kemi 2) Rauma
EUR million
2024
2023
2024
2023
2024
2023
2024
2023
Corporate income taxes
-0.3 18.2
8.3
2.1
0.0 14.7 2.4 0.0 17.2
2.9 3.9 0.0 0.7 7.2
4.7 3.6 0.0 0.2 8.6
4.7
13.0 37.0
Joutseno
Payroll related taxes and contributions
18.6
14.9
36.6
Total
Operational taxes
4.4 0.6
2.2 0.5
3.1 0.0
7.6 1.2
4.7 0.6
Other taxes
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.
Total
22.9
29.6
20.1
50.1
55.3
196 Remuneration report 201 Investor relations and investor information
178
179
Production capacities | METSÄ BOARD ANNUAL REVIEW 2024
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