Result for the first quarter of 2010
Sales EUR 602 million (Q1/2009: 623)
Operating result excluding non-recurring items EUR 39 million (-65). Operating result including non-recurring items EUR 49 million (-118).
Result before taxes excluding non-recurring items EUR 15 million (-62). Result before taxes including non-recurring items EUR 25 million (-115).
Earnings per share from continuing operations excluding non-recurring items EUR 0.03 (-0.18) and including non-recurring items EUR 0.06 (-0.32).
Events during the first quarter
In January, M-real made a partial early redemption of its 2010 bonds (originally EUR 400 million) with a nominal value of EUR 250 million.
M-real booked a positive EUR 12 million non-recurring item related to IT.
M-real announced price increases in all its main products.
"M-real's result improved further during the first quarter and we achieved a clearly positive net result. However, M-real's structural change is not ready yet; we have several measures underway to improve profitability further. The demand has improved in all of M-real's main products. M-real will increase the prices of all main products to cover increasing fibre costs."
CEO Mikko Helander
Wednesday, 05 May 2010 13:15
M-real's operating result excluding non-recurring items for the first quarter
Ian Melin-Jones
Published in
Financial News