Wednesday, 27 October 2010 16:00

M-real's operating result excluding non-recurring items for the third quarter of 2010 EUR 54 million

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Result for January-September 2010
* Sales EUR 1,940 million (Q1-Q3/2009: 1,826)
* Operating result excluding non-recurring items EUR 136 million (-157).
Operating result including non-recurring items EUR 150 million (-215)
* Result before taxes excluding non-recurring items EUR 72 million (-215).
Result before taxes including non-recurring items EUR 70 million (-284)
* Earnings per share from continuing operations excluding non-recurring items EUR 0.16(-0.64) and including non-recurring items EUR 0.15 (-0.88)


Result for the third quarter                                                    
* Sales EUR 662 million (Q2/2010: 676)                                          
* Operating result excluding non-recurring items EUR 54 million (43). Operating result including non-recurring items EUR 66 million(35)
* Result before taxes excluding non-recurring items EUR 33 million (24). Result before taxes including non-recurring items EUR 45 million (0)
* Earnings per share from continuing operations excluding non-recurring items EUR 0.08 (0.05) and including non-recurring items EUR 0.12 (-0.03)

Events during the third quarter of 2010                                         
* The Alizay pulp mill was shut down permanently.                               
* M-real continued to increase prices of all of its main products.              
* M-real plans to continue Simpele's speciality paper production at the Gohrsmühle mill.                                                                
* Standard & Poor's and Moody's Investor Service upgraded M-real's credit rating.                                                                         

Events after the period                                                         
* M-real decided to invest in the expansion of board production and sheeting operations at the Simpele mill.                                             
* M-real signed an agreement with Metsä Tissue Corporation on partial divestment of the Reflex mill.

                                                             
“Our profitability improved further, and the quarterly result was the best we have had in years. Annual contract negotiations with the biggest cartonboard customers, concerning price increases and additional deliveries, have proceeded as targeted. The demand outlook in cartonboard is excellent, and thus we have made significant investment decisions. The profit improvement measures related to the paper businesses will continue.”                                         

Mikko Helander, CEO

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