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Metsä Board (METSB) investor relations material
Metsä Board Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Profitability remained under pressure in 2025, with sales declining to EUR 1,775.7 million and a comparable operating result of EUR -80.2 million, but strong operating cash flow and a solid financial position provided stability despite market headwinds.
Transformation programme delivered EUR 52 million in annualised cost savings by year-end, with a target of EUR 200 million by 2027.
Major investment phase ended with the completion of the Simpele mill modernization.
No dividend proposed for 2025 due to notable losses.
Financial highlights
2025 sales: EUR 1.78 billion, down 8% year-over-year; Q4 sales: EUR 394 million.
Comparable operating result: EUR -80.2 million (-4.5% margin); earnings per share: EUR -0.44.
Strong operating cash flow of EUR 240 million, up 534% year-over-year, driven by working capital release.
Significant non-recurring items: EUR 27 million Tako Mill impairment, EUR 21 million transformation costs, EUR 35 million ERP project impairment.
Q4 included EUR 40 million insurance compensation related to Kemi Bioproduct Mill incident.
Outlook and guidance
Folding boxboard delivery volumes expected to improve from Q4 lows in Q1 2026; variable costs to decline due to lower wood prices and transformation actions.
FX headwinds expected to negatively impact Q1 by EUR 20 million versus Q4.
Overcapacity in Europe, soft consumer sentiment, and U.S. tariffs to continue impacting sales.
No major new investments planned; annual maintenance CapEx to remain at EUR 40–50 million for 2026–2028.
Working capital will increase seasonally in Q1 2026.
- TimeTickerHeadlineOpen
- 7 FebCHEMPLASTS
Net losses widened and revenue fell year-over-year amid regulatory and market headwinds. - 7 FebSBIN
Q3 FY26 net profit reached ₹21,028.15 crore, driven by robust income and strategic divestments. - 6 FebHTOO
Resale registration for 71,429 shares via warrant, with proceeds only on exercise; financial risks persist. - 6 FebVSAT
Q3 revenue up 3% to $1.16B, net income $25M, strong cash flow, Ligado boost, satellite focus. - 6 FebWEC
Targets 7–8% EPS growth, $37.5B capex, and coal exit by 2032 amid surging data center demand. - 6 FebBR
Q2 FY26 recurring revenue grew 8% and adjusted EPS guidance was raised to 9-12%. - 6 FebFFWM
Merger vote includes new non-voting stock class with limited conversion and no voting rights. - 6 FebKKR
Charter amendments seek to modernize governance and establish one share, one vote by 2026. - 6 FebARI
Proposed $9B real estate loan portfolio acquisition highlights disciplined, long-term strategy. - 6 FebSMCI
Q2 revenue jumped 123% to $12.7B, with FY26 guidance raised to at least $40B.
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