Annual Report ------------- M-real’s strategy and way of working CEO’s review Operating Environment Consumer Packaging Office Papers Speciality Papers Market Pulp and Energy Sustainable premium products Minimising the environmental impacts of production Energy efficiency From restructuring to continuous development of the personnel Financial statements    Report of the Board of Directors 2010    Consolidated statement of comprehensive income    Consolidated balance sheet    Statement of changes in shareholders’ equity    Consolidated cash flow statement    Notes to the financial statement    Calculation of key ratios    Parent company accounts - Income statement    Parent company accounts - Balance sheet    Parent company accounts - Cash flow statement    Parent company accounting policies    Notes to the parent company financial statements    The Board´s proposal for the distribution of profits    Auditor’s Report Corporate Governance statement Salary and remuneration report Board of Directors Management team Shares and shareholders Financial reporting Contact information

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