Metsä Board (METSB) Investor presentation summary

Strategic positioning and market leadership

• Holds leading positions in folding boxboard and white kraftliners in Europe, and globally in coated white kraftliners, focusing on premium, recyclable paperboards as alternatives to plastics.

• Main markets are Europe and North America, with growing demand for sustainable packaging and regulatory support for recyclable materials.

• Part of a larger group structure, ensuring secure access to Nordic fibres and pulp, and benefiting from integrated supply chains.

Financial performance and targets

• Q1–Q3 2024 sales reached EUR 1,493 million, with a comparable operating result of EUR 73 million (4.9% of sales), down from EUR 121 million (8.0%) in the prior year.

• Q3 2024 saw a significant improvement in operating result to EUR 42 million, aided by insurance compensation and higher pulp prices.

• Return on capital employed (ROCE) for Q1–Q3 2024 was 4.3%, below the >12% target.

• Net debt at the end of Q3 2024 was EUR 348 million, with a leverage ratio well below the 2.5x target.

Investments and growth initiatives

• Major investments completed in Husum and Kemi, expanding folding boxboard and white kraftliner capacities, with full market availability expected by 2025–2026.

• Ongoing and planned investments focus on mill renewals, new power plants, and product development, targeting fossil-free production and improved competitiveness.

• Total investments for 2024 are expected to be EUR 175–200 million.