Business description: Metsä Board Oyj

Metsa Board Oyj is a Finland-based producer of fresh fibre paperboards. The Company focuses on folding boxboards and white kraftliners, used primarily in consumer product packaging and in the various packaging solutions of the retail sector. In addition, the Company produces chemical pulp and bleached high-yield pulp (BCTMP) for own use and to be sold as market pulp. Metsa Board is a part of Metsa Group and has 24.9 per cent holding in its associated company Metsa Fibre, which is a producer of wood-based bioproducts such as pulp, sawn timber, biochemicals and bioenergy. Metsa Board Oyj use fresh wood fibres in the Company's paperboards that are a renewable resource that the Company can trace back to their origins in northern European forests. Metsa Board Oyj are committed to the principles of regenerative forestry.

Number of employees: 1,855

Sales by Activity: Metsä Board Oyj

Fiscal Period: December 2021 (EUR) 2022 (EUR) 2023 (EUR) 2024 (EUR) 2025 (EUR)

Folding Boxboard, Fresh Fibre Linerboard and Market Pulp Businesses

208.86Cr 248.57Cr 194.74Cr 194.37Cr 178.48Cr

Geographical breakdown of sales: Metsä Board Oyj

Fiscal Period: December 2021 (EUR) 2022 (EUR) 2023 (EUR) 2024 (EUR) 2025 (EUR)

United States

40Cr 51Cr 43Cr 43Cr 36Cr

Other Countries

16Cr 23Cr 14Cr 14Cr 15Cr

Germany

16Cr 21Cr 15Cr 14Cr 15Cr

Finland

13Cr 9.95Cr 8.98Cr 9.49Cr 13Cr

Other EU

- - - 17Cr 13Cr

Italy

13Cr 17Cr 14Cr 13Cr 12Cr

Poland

9.17Cr 12Cr 12Cr 11Cr 10Cr

United Kingdom

10Cr 12Cr 11Cr 9.62Cr 9.23Cr

Spain

7.96Cr 11Cr 8.88Cr 9.48Cr 8.92Cr

France

7.75Cr 10Cr 8.99Cr 7.59Cr 7.76Cr

Sweden

10Cr 11Cr 8.23Cr 12Cr 7.64Cr

Turkey

9.03Cr 14Cr 5.62Cr 9.07Cr 7.6Cr

Asia

17Cr 18Cr 11Cr 9.71Cr 7.48Cr

The Netherlands

2.87Cr 3.05Cr 4.68Cr 5.21Cr 5.93Cr

Canada

2.52Cr 2.96Cr 5.64Cr 4.56Cr 3.86Cr

Other Europe and Middle East

4.12Cr 4.19Cr 3.32Cr 3.55Cr 2.87Cr

Belgium

2.3Cr 3.21Cr 1.82Cr 2.08Cr 1.36Cr

Norway

33L 81L 69L 5L 2L

Other Europe

14Cr 19Cr 18Cr - -

Russia

12Cr 4.19Cr - - -

Executive Committee: Metsä Board Oyj

Manager TitleAgeSince
Chief Executive Officer 57 07/04/2025
Director of Finance/CFO 44 26/01/2026
Investor Relations Contact - 01/03/2021
Corporate Officer/Principal 46 06/10/2025
Corporate Officer/Principal 56 05/01/2026

Composition of the Board of Directors: Metsä Board Oyj

Director TitleAgeSince
Director/Board Member 65 11/06/2020
Chairman 55 01/07/2025
Director/Board Member 65 23/03/2023
Director/Board Member 54 01/01/2017
Director/Board Member 55 23/03/2023
Director/Board Member 65 23/05/2021
Director/Board Member 55 26/03/2024
Director/Board Member 58 24/03/2022

Shareholders: Metsä Board Oyj

NameEquities%Valuation
Metsäliitto Osuuskunta
49.12 %
15,85,02,147 49.12 % 529 M €
Keskinäinen Työeläkevakuutusyhtiö Varma
4.661 %
1,50,41,485 4.661 % 50 M €
Keskinäinen Eläkevakuutusyhtiö Ilmarinen
2.801 %
90,40,000 2.801 % 30 M €
2.107 %
68,00,000 2.107 % 23 M €
Keskinäinen Työeläkevakuutusyhtiö Elo
1.789 %
57,73,000 1.789 % 19 M €
NameEquities%Valuation
Metsäliitto Osuuskunta
78.55 %
2,57,67,605 78.55 % 127 M €
Keskinäinen Työeläkevakuutusyhtiö Varma
6.718 %
22,03,544 6.718 % 11 M €
Keskinäinen Eläkevakuutusyhtiö Ilmarinen
3.791 %
12,43,635 3.791 % 6 M €
Maa-ja Metsätaloustuottajain Keskusliitto MTK ry
1.758 %
5,76,543 1.758 % 3 M €

Holdings: Metsä Board Oyj

NameEquities%Valuation
3,60,802 0.11% 1 M $

Company details: Metsä Board Oyj

Metsä Board Oyj

Revontulenpuisto 2

02100, Espoo

+358 1046 11

http://www.metsagroup.com/metsaboard/
address Metsä Board Oyj(METSB)

Other Paper Packaging

Change 5d. change 1-year change 3-years change Capi.($)
+1.63%+0.49%-15.17%-59.17% 122.82Cr
-0.35%-8.68%-19.92%-1.81% 1.96TCr
-0.66%-4.89%+8.48%+63.03% 1.87TCr
+0.46%-6.38%-39.37%-5.09% 1.61TCr
+0.46%-2.04%-29.29%-53.63% 581.8Cr
-2.15%-1.31%+78.69%+64.89% 548.12Cr
+0.54%-8.09%+1.21%-21.11% 464.09Cr
+0.79%-2.14%-38.78%-47.72% 433.72Cr
+1.01%-0.74%-21.06%-19.42% 325.52Cr
-0.84%-4.84%+46.58%-45.43% 310.98Cr
Average +0.09%-5.67%-2.86%-12.55% 821.86Cr
Weighted average by Cap. -0.15%-6.55%-8.63%+6.33%
Trader
Investor
Global
Quality
ESG MSCI
A
Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
6
Last Close Price
2.828EUR
Average target price
2.980EUR
Spread / Average Target
+5.37%

Quarterly revenue - Rate of surprise

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