Metsä Group's Q2 Profitability Improved Year-on-Year

Metsä Group's profitability for the second quarter (April–June) saw an improvement compared to the previous year. The company's comparable EBITDA stood at EUR 129 million, up from EUR 44 million in the same period last year.

For the full first half of the year (January–June), however, the company's sales decreased to EUR 2,741 million from EUR 3,069 million in the prior year. Correspondingly, the comparable EBITDA for the entire half-year period was EUR 257 million, a decrease from EUR 265 million reported in the previous year.

The operating result for the first half was negative at EUR -33 million, compared to a positive EUR 6 million a year ago. The comparable operating result was EUR -7 million, a significant drop from EUR 44 million in the previous year. The comparable return on capital employed was -0.1%.

Net cash flow from operations for the first half was negative at EUR -37 million, a decline from the positive EUR 10 million reported a year earlier. Metsä Group released its half-year financial report today.