Metsä Group reports negative comparable operating result for Q1 2026
Metsä Group's comparable operating result for January-March 2026 was EUR -4 million. The company's sales declined significantly compared to the previous year.
Helsinki – Metsä Group reported a comparable operating result of EUR -4 million for the first quarter of 2026. This marks a decrease from the EUR 81 million positive result recorded in the same period of 2025. Sales for the period stood at EUR 1,358 million, down from EUR 1,642 million year-on-year.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) were EUR 115 million, compared to EUR 189 million in the first quarter of 2025. Metsäliitto Cooperative increased its ownership in Metsä Fibre to 55.2% by acquiring a 5.1% stake from Itochu.
Demand in the market pulp sector was subdued in both Europe and China, leading to market-driven shutdowns at mills, including the Joutseno pulp mill. Delivery volumes for paperboard decreased, largely attributed to US import tariffs. Rising oil and natural gas prices, influenced by the situation in the Middle East, increased logistics and raw material costs.
Other developments during the quarter included a reorganization of the tissue paper business, resulting in 50 job reductions. The wood products industry's results were affected by the commissioning of new mills and restructuring efforts. Metsä Board acquired the Winschoten Sheeting and Distribution Hub in the Netherlands to enhance its European paperboard service capabilities.
Metsä Group also initiated pre-engineering for a carbon capture facility for wood-based carbon dioxide in Rauma and applied for investment aid. The company noted that its cost-saving initiatives, launched in late 2025, are proceeding on schedule and have significantly improved performance compared to the second half of 2025.