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Magazine Paper
Operating profit was EUR 79.3 (EUR 346.9) million, a decrease of EUR 267.6 million or 77% on 2001 mainly as a result of lower sales prices which was, however, to some extent compensated by increased volumes and lower variable costs. Curtailments of 569 000 (560 000) tonnes necessitated by low order volumes led to reduced productivity and somewhat higher relative fixed costs.
Newsprint
Operating profit was EUR 240.8 (EUR 508.8) million, a decrease of EUR 268.0 million or 53% caused mainly by lower sales prices and volumes, though somewhat higher recycled paper prices also had a negative effect. Curtailments of 305 000 (130 000) tonnes were taken to adjust to demand.
Fine Paper
Operating profit was EUR 292.6 (EUR 394.5) million, a decrease of EUR 101.9 million or 26% related to lower sales prices only partly offset by lower variable costs. Curtailments amounted to 250 000 (670 000) tonnes.
Packaging Boards
Operating profit was EUR 365.8 (EUR 346.2) million, an increase of EUR 19.6 million or 6%, higher sales volumes and somewhat lower variable costs having a greater impact than lower sales prices. Curtailments during the year were 133 000 (180 000) tonnes.
Timber Products
Operating profit was EUR 46.8 (EUR 12.6) million, an increase of EUR 34.2 million due primarily to higher volumes and lower fixed costs, partly offset by lower sales prices and increased personnel costs.
Merchants
Operating profit was EUR 5.5 (EUR -7.2) million, an increase of EUR 12.7 million as a result of the closure of the unprofitable unit in England.
Forest
Operating profit was EUR 96.3 (EUR 88.1) million, an increase of EUR 8.2 million or 9% primarily as a result of higher prices and volumes.
Other
Operating losses amounted to EUR 51.8 (EUR 43.2) million.
Sales, operating profit (EBIT) and return on operating
capital (ROOC)
per product area, excluding non-recurring items, are
shown in the table Sales and Operating Profit by Product
Area; with a specification by quarter in the tables
under Quarterly
Data.
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