Operations in 2002 Quarterly Data and Key Figures Board Report Consolidated Financial Statements Parent Company Financial Statements Financial Notes Auditors’ Report The Share Corporate Governance

	Operations in 2002 Value Creation Market Sales and Deliveries Financial Result By Product Area Profitability Non-recurring Items Financing and Capital Expenditure Risk Analysis Risk Management Funding and Financing Costs		Reports 2002  >  Financials 2002  >  Operations in 2002  >  Financial Result Financial Result (Excluding non-recurring items) Sales in 2002 totalled EUR 12 782.6 (EUR 13 508.8) million, a decrease of EUR 726.2 million or 5.4% on the previous year; average prices also decreased in all product areas. Sales volumes increased in Magazine Paper, Packaging Boards and Timber Products but decreased in Newsprint and to some extent in Fine Paper. Operating profit excluding non-recurring items was EUR 926.5 million or 7.2% of sales (EUR 1 495.2 million or 11.1%), a decrease of 38.0% on the previous year. Magazine Paper, Newsprint and Fine Paper reported lower operating profits than in 2001, mainly due to lower sales prices, while Packaging Boards and Timber Products increased profits. The weakening of the US dollar reduced profits by EUR 28 million, which was offset by hedges.