Metsäliitto Group Stock Exchange Release 13 January 2012 at 10.00 am EET
Metsäliitto Group is expected to book in total some EUR 214 million negative non-recurring items in the fourth quarter 2011 operating result. The main items are the following:
- EUR 105 million cost provisions and write-downs in Board and Paper business related to planned closure of M-real’s Alizay mill announced on 18 October 2011.
- EUR 70 million cost provisions and write-downs in Board and Paper business related to the planned discontinuation of the unprofitable production at M-real’s Gohrsmühle and Reflex mills announced on 18 October 2011.
- EUR 25 million impairments of assets, write-downs, and cost provisions in Board and Paper business related to restructuring at M-real’s Äänekoski mill including the closure of the paper machine 2 announced on 2 November 2011.
- EUR 9 million impairments of assets and cost provisions in Wood Products Industry.
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EUR 5 million additional cost provisions and adjustments to the sales price in Board and Paper business related to the divestment of M-real’s 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 Metsäliitto Group’s annual depreciations by approximately EUR 2 million from 2012 onwards.
Metsäliitto Group will announce the financial statements 2011 on 9 February 2012.
For further information, please contact:
Chief Financial Officer Vesa-Pekka Takala, Metsäliitto Group, tel. +358 (0)10 465 4260