M-real Corporation Stock Exchange Release on 13 January 2012 at 10.00 am EET
M-real Corporation, a part of Metsäliitto Group, is expected to book approximately EUR 205 million negative non-recurring items in the operating result of the last quarter of 2011. The main items are the following:
- EUR 105 million cost provisions and write-downs in Office Papers business area related to the planned closure of the Alizay mill announced on 18 October 2011.
- EUR 70 million cost provisions and write-downs in Speciality Papers business area related to the planned discontinuation of the unprofitable production at Gohrsmühle and Reflex mills announced on 18 October 2011.
- EUR 25 million impairment of assets, write-downs and cost provisions in Consumer Packaging business area related to the restructuring at Äänekoski mill including the closure of the paper machine 2 announced on 2 November 2011.
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EUR 5 million additional cost provisions and adjustments to the sales price in Market Pulp and Energy related to the divestment of Hallein pulp mill materialised in September 2011.
Of the total non-recurring items approximately EUR 190 million will have an impact at the EBITDA level. The write offs will reduce M-real's annual depreciations by approximately EUR 2 million from 2012 onwards.
M-real will announce the financial statements 2011 on 9 February 2012.
M-REAL CORPORATION
For further information, please contact:
Matti Mörsky, CFO, tel. +358 10 465 4913
Juha Laine, Vice President, Investor Relations and Communications, tel. +358 10 465 4335