Metsä Board's comparable operating result was EUR -80 million in 2025

Metsä Board Oyj reported a comparable operating result of EUR -80.2 million for the full year 2025, a significant decrease from EUR 69.0 million in the prior year. Net sales declined to EUR 1,775.7 million from EUR 1,938.6 million in 2024.

The weak performance was attributed to several factors, including subdued consumer demand, U.S. import tariffs, overcapacity in Europe, and persistently high raw material costs. The challenging market for market pulp and the diminished profitability of associate Metsä Fibre also significantly impacted Metsä Board's results.

For the fourth quarter, the comparable operating result stood at EUR -34.7 million, compared to EUR -3.6 million in the same period of the previous year. Paperboard deliveries were reduced due to seasonality. The company implemented a transformation program aimed at improving annual EBITDA by approximately EUR 200 million by the end of 2027.

The Board of Directors has proposed no dividend for the 2025 financial year. However, net cash flow from operations was strong at EUR 239.6 million, partly due to supply chain optimization and working capital release. The company reduced its workforce by 310 employees and completed a EUR 60 million renewal project at its Simpele board mill.