Finnish giant Metsä Group reported financial results below expectations for 2024, with a comparable operating profit of €203m, down significantly from €488m in 2023. Total group sales fell to €5.747 billion from €6.110 billion in the previous year.
Ilkka Hämälä, the company's CEO, characterized 2024 as "an exceptionally weak year financially," citing low demand in core markets and the impact of political strikes at the beginning of the year, which resulted in losses of around €60 million, as the main challenges.
Despite these challenges, the company maintains a strong financial position with an equity ratio of 56.2% and continues to invest in growth. Notably, Metsäliitto Cooperative, the group's parent company, remains debt-free.
For the first quarter of 2025, Metsä Group anticipates an improvement in comparable operating result compared to the last quarter of 2024, signaling potential for recovery.
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