• A world leader
• Sales totalled EUR 12.4 billion
• Total paper and board capacity 16.4 million tonnes/year
• Total sawn wood products capacity 7.7 million cubic metres/year, including 3.2 million cubic metres of value-added products
• Some 45 000 employees
• Products: publication and fine papers, packaging boards and wood products
• Strong global sales and marketing network
• Shares listed on the Helsinki, Stockholm and New York stock exchanges

Year 2004 in brief

Demand for Group products continued to improve during the fourth quarter and deliveries increased in all product grades, especially advertising-driven paper grades. In Europe product prices were generally stable, but the earlier announced fine paper price increases did not materialise. Previously announced price increases were largely implemented in the USA. The Group’s profitability declined significantly, however, owing to the impact of seasonal shutdowns, the direct and indirect effects of the weak US dollar and higher input costs, including wood harvesting costs due to the wet autumn in Northern Europe.