{"id":87521,"date":"2024-04-30T07:16:27","date_gmt":"2024-04-30T07:16:27","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/q1-2024-strikes-hit-finnish-forestry-giants-profits-hard\/"},"modified":"2025-09-19T09:01:55","modified_gmt":"2025-09-19T09:01:55","slug":"q1-2024-strikes-hit-finnish-forestry-giants-profits-hard","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/q1-2024-strikes-hit-finnish-forestry-giants-profits-hard\/","title":{"rendered":"Q1\/2024 strikes hit Finnish forestry giants profits hard"},"content":{"rendered":"

Finnish forestry giants Stora Enso and\u00a0Mets\u00e4 Group reported high profit losses due to political strikes in the first quarter, while UPM reported a more moderate impact. <\/span><\/p>\n

Stora Enso: a 25 million euro bill from the strike<\/strong><\/p>\n

The beginning of the year was difficult for Stora Enso. The company's net sales fell by a fifth in January-March to 2.2 billion euros from a year ago. Adjusted operating profit remained at 156 million euros. However, the financial result was better than in the previous quarter.<\/p>\n

\"Political strikes in Finland had a negative impact of around 25 million euros on our result. We estimate that the impact of the strikes on the second quarter will be less,\" states CEO Hans Sohlstr\u00f6m in the press release.<\/p>\n

There is no immediate improvement, as the company anticipates that the rise in wood and maintenance costs and the strike will have a detrimental effect on the second quarter's result.<\/p>\n

However, Stora Enso expects market conditions to gradually recover during this year.<\/p>\n

\"The rise in the price of wood, especially in the Finnish market, will cause challenges for profitability this year as well,\" says Sohlstr\u00f6m.<\/p>\n

Wood products have challenges due to low demand, prices, volumes and high wood costs. According to Stora Enso, the demand for traditional sawn products is expected to improve seasonally in the second quarter.<\/p>\n

Stora Enso estimates that the demand for wood will increase gradually. However, the wood market in Finland, Sweden and the Baltic countries remains tight. The price of wood is estimated to rise throughout the rest of the year in Finland and Sweden.<\/p>\n

Mets\u00e4 Group lost tens of millions from the strike<\/strong><\/p>\n

Mets\u00e4 Group's result weakened at the beginning of the year.\u00a0Mets\u00e4's net sales fell to 1.5 billion euros in January-March, where there was a decrease of 170 million euros from a year ago. Operating profit fell to 58 million, which is more than 200 million euros less than a year ago.<\/p>\n

The beginning of the year took place in a strengthening market situation for most of the group's business areas compared to the end of the previous year, Mets\u00e4 Group reports.<\/p>\n

\"In a situation of budding growth and strengthening demand, the effect of the four weeks of political strikes on Mets\u00e4 Group's results is really significant,\" the group's CEO Ilkka H\u00e4m\u00e4l\u00e4 states in the press release.<\/p>\n

The majority of the group's 21 factories located in Finland were down for 2\u20133 weeks due to the port strike and the rail freight strike. The profit impact is estimated to be 60 million euros. Of that, 20 million euros will be allocated to the second quarter.<\/p>\n

\"The effects of a long political strike on customer relations are serious. This kind of irresponsible action of the trade union movement damages the chances of developing Finnish industry in the long term,\" says H\u00e4m\u00e4l\u00e4.<\/p>\n

According to Mets\u00e4 Group, the demand in the wood market is currently mainly for summer harvestable birch logs and purchased wood. In energy wood, the demand is for crown pulp and energy trunk.<\/p>\n

More moderate losses for UPM<\/strong><\/p>\n

UPM's first quarter turnover fell five percent from the previous year to 2.64 billion euros.<\/p>\n

The operating result, on the other hand, rose by 36 million to 354 million euros, and the net result of the last line increased by almost one hundred million to 279 million euros.<\/p>\n

CEO Massimo Reynaudo commented on the reasons for the improvement in earnings, that demand recovered and margins were managed successfully.<\/p>\n

\"The destocking that characterized last year was over in all businesses, and most businesses improved their results from the previous quarter.\"<\/p>\n

The impact of the March-April political strikes remained moderate and is spread over the first and second quarters.<\/p>\n

In pulp, the increase in delivery volumes was significant.<\/p>\n

\"Market demand for pulp was good, and prices rose from the last quarter of last year.\"<\/p>\n

The result shows the influence of the pulp mill in Uruguay, which is already operating at almost full capacity, and the triple reactor in Olkiluoto. UPM owns a third of the reactor through its associated company.<\/p>\n

The outlook for the current year is positive.<\/p>\n

\"The product market is recovering, and our businesses strive to improve their results in an improving business environment.\"<\/p>","protected":false},"excerpt":{"rendered":"

Finnish forestry giants Stora Enso and\u00a0Mets\u00e4 Group reported high profit losses due to political strikes in the first quarter, while UPM reported a more moderate impact. Stora Enso: a 25 million euro bill from the strike The beginning of the … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":96296,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4716],"tags":[],"class_list":["post-87521","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-trends"],"acf":[],"yoast_head":"\nQ1\/2024 strikes hit Finnish forestry giants profits hard - Timber Industry News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.timberindustrynews.com\/ro\/q1-2024-strikes-hit-finnish-forestry-giants-profits-hard\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Q1\/2024 strikes hit Finnish forestry giants profits hard - Timber Industry News\" \/>\n<meta property=\"og:description\" content=\"Finnish forestry giants Stora Enso and\u00a0Mets\u00e4 Group reported high profit losses due to political strikes in the first quarter, while UPM reported a more moderate impact. 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