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 Non-recurring Items Financing and Capital Expenditure Risk Analysis Supply and Demand Risk Investment Risk External Structural and Legal Risk Risk Management Funding and Financing Costs		Reports 2002  >  Financials 2002  >  Operations in 2002  >  Risk Analysis Risk Analysis Prices for paper and board products have historically been cyclical, reflecting overall economic conditions as well as the development of capacity within the industry; combined with the volatility of raw material prices, mainly for wood, pulp and energy, along with exposure to exchange rates, this affects the profitability of the forest and paper products industry. The Group has identified a number of potential risks that could severely impact future profitability and development; these are categorised in three major groups: Supply and Demand Risk, Investment Risk and External Structural and Legal Risk.