Exceptional transactions outside normal business operations are accounted for as non-recurring items at Group level. Segment results for operational reporting expressly exclude them though IAS-based segment notes do allocate them to the segments. The items/transactions must meet certain criteria to be accounted for as non-recurring, amongst others being that they must impact on earnings per share by at least one cent. The most common non-recurring items are capital gains, additional write-downs and restructuring provisions and gains.
There were four non-recurring items with a total positive effect of EUR 369.7 (EUR -54.4) million on operating profit, comprising the gain on restructuring ownership of the Swedish forestlands, the reversal of expenses already taken in respect of various US retiree healthcare programmes, the provision for the future reduction of maintenance personnel in the USA and the income relating to the change in the Finnish disability pension liabilities. The effect per share was EUR 0.64 (-0.04).
