Metsä Board’s Q3 2023 sales were Euro 479.0 million, compared to Euro 647.3 million in the Q3 2022. Folding boxboard accounted for 60% of sales, while 23% of sales came from white kraftliner, 13% from market pulp, and 4% from other operations.

The comparable operating result was Euro 5.5 million, and the operating result was Euro 3.1 million. Items affecting comparability totalled Euro -2.4 million, comprising a write-down of Euro -2.1 million related to the closure of Metsä Fibre’s old Kemi pulp mill, as well as Euro -0.2 million in translation differences from discontinued operations in Russia.

Total deliveries of paperboards were 340,000 (454,000) tonnes, of which 65% was delivered to the EMEA region, 31% to the Americas, and 4% to the APAC region. Metsä Board’s deliveries of market pulp were 107,000 (124,000) tonnes, of which 62% was delivered to the EMEA region, and 38% to the APAC region.

The result for July–September was weakened by clearly lower paperboard and market pulp delivery volumes. Due to the weak demand situation, the company strongly adjusted its paperboard, pulp and BCTMP production. The average price of paperboards remained stable compared with the corresponding period last year. Instead, the price level of pulp declined clearly, which had a significant negative impact on the result.

Metsä Board’s CEO Mika Joukio: “After the summer, the market situation for paperboard has remained subdued but relatively stable. The reduced purchasing power caused by cost inflation and the rise in interest rates has led to consumers considering their purchase decisions more carefully and has affected the general demand for consumer products. Increased imports of cartonboard from Asia, especially to Turkey, the MEA region and South America, have affected the market balance especially in Europe, and increased competition.