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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%

20.9% in 2022

Interest bearing net debt / comparable EBITDA

maximum of 2.5

0.2 in 2022

Dividend pay-out ratio

at least 50% of net result

50% in 2022

Other key figures	2022	2021	2020	Target level by 2030
Paperboard deliveries, 1,000 tonnes	1,817	1,922	1,810
Market pulp deliveries, 1,000 tonnes	503	496	521
Share of fossil free energy of total energy use, %	88	85	83	100%
Energy efficiency improvement ¹⁾ , %	+2.7	+4.3	+4.4	+10%
Reduction in process water use ¹⁾ , %	-12.2	-12.6	-7.5	-30%
Share of certified wood of total wood procurement, %	83	83	80	>90%

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

Metsä Board A	27/03/2023	Metsä Board B	27/03/2023
Previous Close	11.50	Previous Close	7.28
Change (%)	0.00	Change (%)	-0.34
Volume (shares)	919	Volume (shares)	469,601
Number of Shares	32,802,175	Number of Shares	322,710,571
Market Cap (€ million)	377.23	Market Cap (€ million)	2,347.72

Metsä Board A	27/03/2023
Previous Close	11.50
Change (%)	-0.34
Volume (shares)	469,601
Number of Shares	32,802,175
Market Cap ( € million)	377.23
Metsä Board B	27/03/2023
Previous Close	7.28
Change (%)	-0.34
Volume (shares)	469,601
Number of Shares	322,710,571
Market Cap ( € million)	2,347.72

Major Shareholders (28/02/2023)	Shares	% of Total
Metsäliitto Cooperative	177,339,302	49.88
Varma Mutual Pension Insurance Company	17,245,029	4.85
Ilmarinen Mutual Pension Insurance Company	10,847,000	3.05
Etola Erkki Olavi	5,500,000	1.55
Elo Mutual Pension Insurance Company	4,665,000	1.31
The State Pension Fund	3,400,000	0.96
Evli Finnish Small Cap Fund	1,533,000	0.43
Etola Markus Eeriki	1,250,000	0.35
OP-Finland Small Firms Fund	1,243,629	0.35
OP-Finland	1,212,887	0.34
10 largest owners total	224,235,847	63.07
Number of shares total	355,512,746	100.00

Upcoming events

27/04/2023	Interim report for January-March 2023
27/04/2023	Earnings call with investors and analysts
04/05/2023	Group Investor call with Metsä Board and Metsä Fibre hosted by Santander
09/05/2023	UBS Pan European Small and Mid-Cap Conference

Latest news
23/03/2023	Resolutions of Metsä Board Corporation’s Annual General Meeting
22/03/2023	Metsä Board on the 2022 CDP Supplier Engagement Leaderboard
16/03/2023	Metsä Board Corporation: Managers’ transactions (Joukio, Mika)
15/03/2023	Transfer of Metsä Board Corporation's own shares to pay the rewards under the incentive scheme for the performance period 2020–2022
23/02/2023	Notice of the Annual General Meeting of Metsä Board