Myllykoski Corporation Interim Report January-June 2008
- Net sales by the Myllykoski Group in January - June 2008 totalled EUR 712 million, which is EUR 23 million less than in the corresponding period in 2007 (EUR 735 million). Net sales in April - June 2008 came to EUR 360 million (EUR 362 million a year earlier). Net sales in the first quarter of 2008 totalled EUR 352 million.
- Operating profit for January - June was EUR 1 million, compared with EUR 6 million in the corresponding period last year. Operating profit for April - June 2008 amounted to zero. Operating profit for the first quarter of 2008 was EUR 1 million.
- The result for the period January - June 2008 was EUR -9 million, compared with a result of EUR -5 million in January - June 2007. The result for the period April - June 2008 was EUR -4 million. The result for the period January-March 2008 was EUR -5 million.
- Total output in January - June 2008 amounted to 1,160,000 tonnes, which is slightly less than in the previous year. Demand for paper continued to be good in the second quarter, and the utilisation rates of the machinery remained high. Fibre and energy costs continued to be high.
- The Myllykoski Group’s European organisation was honed through major mill-level changes.
Financial performance and position
Key figures for the Group:
|
|
4-6/2008 |
4-6/2007 |
1-6/2008 |
1-6/2007 |
1-12/2007 |
|
Net sales, EUR million |
360 |
362 |
712 |
735 |
1 445 |
|
Operating profit/loss, EUR million |
0 |
0 |
1 |
6 |
-11 |
|
% of net sales |
-0.1 |
0.0 |
0.1 |
0.8 |
-0.7 |
|
Profit/loss for the period, EUR million |
-4 |
-6 |
-9 |
-5 |
1 |
|
Return on equity, % |
-3.5 |
-4.5 |
-3.7 |
-2.0 |
0.2 |
|
Equity ratio, % |
27.4 |
28.4 |
27.4 |
28.4 |
28.8 |
|
Equity ratio, 1) |
31.6 |
35.6 |
31.6 |
35.6 |
35.8 |
|
Gross capital expenditure excluding acquisitions, EUR million |
10 |
15 |
71 |
26 |
60 |
|
% of net sales |
2.7 |
4.1 |
9.9 |
3.5 |
4.1 |
|
Personnel, average |
3 026 |
3 385 |
3 000 |
3 377 |
3 226 |
1) Capital loans included in equity.
For the full review please open the link below.
Myllykoski Corporation Interim Report January-June 2008
***
ABOUT MYLLYKOSKI
MYLLYKOSKI is a family owned international paper group with manufacturing in Finland, Germany, Switzerland and the United States and sales offices around the world. The Finnish roots of the parent company go back to 1892. MYLLYKOSKI products consist of wood-containing uncoated and coated publication papers, including newsprint. Customers include publishers, printers, and retailers worldwide.
MYLLYKOSKI is among the largest publication paper producers in the world.
MYLLYKOSKI operates nine paper mills with a total annual capacity of 3 million tons, including the alliance partner Rhein Papier GmbH of which Plattling Papier is a part. MYLLYKOSKI employs 3,300 people.
MYLLYKOSKI is known as a pioneer in using new technologies as well as recycled fibres for paper production. All European mills are certified with the environmental management System ISO 14001. MYLLYKOSKI’s vision is to be the premier publication paper brand recognized for creativity and positive business solutions.