Financial Review >

Financial Result
(Excluding non-recurring items)

Sales for the year rose to EUR 13 508.8 (EUR 13 017) million, up EUR 491.8 million or 3.8% on the previous year; the figures for 2000 include EUR 317.2 million from the divested Gruvön Mill whereas the acquisition of Consolidated Papers results in a net increase of EUR 1 375.3 million over 2000. The adjusted overall decrease was mainly attributable to lower volumes in magazine and fine papers.

Operating profit was EUR 1 495.2 (EUR 1 925.6) million, representing 11.1% (14.8%) of sales, a decrease of 22.4% on the previous year largely due to lower sales volumes and prices, as well as higher depreciation.