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Metsä Board is a leading European producer of premium fresh fibre paperboards and a forerunner in sustainability. Company focuses on lightweight folding boxboards and white kraftliners for consumer, retail and food service packaging.

Metsä Board has eight production units in Finland and Sweden, and sales to over 100 countries. Company employs around 2,400 people.

Metsä Board is part of profitable Metsä Group, which parent company Metsäliitto Cooperative holds 48% of Metsä Board’s shares and 67% of votes. Metsä Board owns 24.9% of its associated company Metsä Fibre, a leading producer of softwood market pulp globally.

Metsä Board has two share series, both listed in Nasdaq Helsinki.

Financial targets and dividend policy

Comparable ROCE

at least 12%

18.7% in 2021

Interest bearing net debt / comparable EBITDA

maximum of 2.5

-0.2 in 2021

Dividend pay-out ratio

at least 50% of net result

50% in 2021

Other key figures	2021	2020	2019	Target level by 2030
Paperboard deliveries, 1,000 tonnes	1,923	1,810	1,792
Market pulp deliveries, 1,000 tonnes	496	521	460
Share of fossil free energy of total energy use, %	85	83	83	100%
Energy efficiency improvement ¹⁾ , %	+4.3	+4.4	+1.7	+10%
Reduction in process water use ¹⁾ , %	-12.6	-7.5	-10.9	-30%
Share of certified wood of total wood procurement, %	83	80	76	>90%

1) Change from the base year of 2018, per tonne produced, rolling 12 months

Metsä Board A	12/08/2022	Metsä Board B	12/08/2022
Previous Close	9.94	Previous Close	8.88
Change (%)	0.40	Change (%)	1.60
Volume (shares)	579	Volume (shares)	180,193
Number of Shares	32,802,175	Number of Shares	322,710,571
Market Cap (€ million)	326.05	Market Cap (€ million)	2,865.67

Metsä Board A	12/08/2022
Previous Close	9.94
Change (%)	1.60
Volume (shares)	180,193
Number of Shares	32,802,175
Market Cap ( € million)	326.05
Metsä Board B	12/08/2022
Previous Close	8.88
Change (%)	1.60
Volume (shares)	180,193
Number of Shares	322,710,571
Market Cap ( € million)	2,865.67

Major Shareholders (31/07/2022)	Shares	% of Total
Metsäliitto Cooperative	172,380,595	48.49
Varma Mutual Pension Insurance Company	17,245,029	4.85
Ilmarinen Mutual Pension Insurance Company	12,291,394	3.46
Etola Erkki Olavi	6,000,000	1.69
Elo Mutual Pension Insurance Company	3,986,190	1.12
The State Pension Fund	3,000,000	0.84
OP-Finland	2,123,891	0.60
Evli Finnish Small Cap Fund	2,100,000	0.59
OP-Finland Small Firms Fund	1,427,501	0.40
Danske Invest Finnish Equity Fund	1,382,643	0.39
10 largest owners total	221,937,243	62.43
Number of shares total	355,512,746	100.00

Upcoming events

22/09/2022	Roadshow Paris
27/10/2022	Interim Report for January–September 2022
27/10/2022	Q3 2022 earnings call with investors and analysts
10/11/2022	Capital Markets Day 2022

Latest news
28/07/2022	Metsä Board’s comparable operating result in January–June 2022 was EUR 267 million
14/07/2022	Invitation to conference call and webcast presentation of Metsä Board's Half-year financial report for January–June 2022 on 28 July 2022
13/07/2022	Better with Less – Design Challenge announces new jury members
21/06/2022	Metsä Board's financial reporting and Annual General Meeting in 2023
15/06/2022	Metsä Board among the best of the best in EcoVadis 2022 rating