Mets\u00e4 Group increased its sawn timber deliveries in the second quarter as seasonal demand improved and limited spruce availability continued to support the market, although selling prices remained under pressure and construction activity stayed weak across the company's main markets.<\/p>\n
Sawn timber deliveries reached 401,000 m\u00b3 in April-June, up 7% from 375,000 m\u00b3 in the same quarter last year. This marked a clear improvement from the first quarter, when deliveries stood at 283,000 m\u00b3 (see table below).<\/p>\n
For the first half of 2026, deliveries totalled 684,000 m\u00b3, slightly below the 693,000 m\u00b3 recorded a year earlier.<\/p>\n
The improvement in volumes was not matched by prices. Average sawn timber sales prices in January-June were 1% lower than in the same period of 2025 and declined by a further 2% compared with the first quarter.<\/p>\n
Demand strengthened seasonally during the second quarter but remained weaker than in previous years, with construction activity still at a low level in the main European markets.<\/p>\n
Market conditions continued to differ substantially between spruce and pine. Spruce sawn timber was supported by limited supply, providing some pricing support even in a subdued demand environment. Pine remained more exposed to excess availability, with supply continuing to exceed demand.<\/p>\n
The Middle East and Africa also provided less support than usual for Nordic producers as geopolitical uncertainty weighed on purchasing activity.<\/p>\n
The figures point to a market increasingly divided by species: constrained spruce availability is helping maintain the balance between supply and demand, while pine producers continue to face more difficult conditions.<\/p>\n
The wider pulp and sawn timber business generated sales of \u20ac618.7 million in the second quarter, compared with \u20ac587.8 million a year earlier, while the comparable operating loss narrowed to \u20ac13.2 million from \u20ac31.9 million.<\/p>\n
For January-June, sales declined to \u20ac1.210 billion from \u20ac1.377 billion, mainly because of lower invoicing prices for both pulp and sawn timber and adverse currency movements. The comparable operating result fell to a loss of \u20ac24.8 million from a profit of \u20ac6.4 million a year earlier.<\/p>\n
Lower wood raw-material costs, stronger sales of by-products and reductions in fixed costs partly offset the pressure from prices and exchange rates.<\/p>\n
Wood products deliveries fall as European construction remains weak<\/strong><\/p>\n Conditions were considerably weaker in Mets\u00e4 Group's wood products operations, which include Kerto LVL, plywood and the distribution and upgrading of sawn timber in the UK.<\/p>\n Engineered wood product deliveries fell to 174,000 m\u00b3 in January-June, compared with 212,000 m\u00b3 a year earlier, a decline of around 18%.<\/p>\n Second-quarter deliveries were 85,000 m\u00b3, down from 105,000 m\u00b3 in the corresponding quarter of 2025.<\/p>\n Sales in the Wood Products Industry fell 18% in the first half to \u20ac208.9 million from \u20ac254.5 million. Second-quarter sales decreased to \u20ac97.9 million from \u20ac127.3 million.<\/p>\n The comparable operating result deteriorated sharply, with a loss of \u20ac14.0 million in the first six months compared with a profit of \u20ac0.5 million a year earlier. In the second quarter alone, the comparable operating loss amounted to \u20ac7.4 million, against a \u20ac1.8 million profit in Q2 2025.<\/p>\n Demand for engineered wood products remained weak as European construction activity continued at low levels, particularly affecting spruce plywood and Kerto LVL. Production had to be curtailed in response.<\/p>\n Market prices were generally stable, although the average selling price declined slightly because of changes in the product mix.<\/p>\n The business is also undergoing substantial restructuring. Start-up costs for the new \u00c4\u00e4nekoski Kerto LVL mill, the phased closure of the Suolahti plywood mill and the restructuring of UK operations had a combined negative impact of \u20ac20.1 million on the comparable operating result.<\/p>\n Spruce plywood production at Suolahti ended at the end of May.<\/p>\n Mets\u00e4 Group is also reducing around 100 jobs in the UK and approximately 100 positions in Finland and Estonia as it adjusts the business to lower volumes and seeks to improve operating efficiency.<\/p>\n Wood supply declines as sawlog prices remain historically high<\/strong><\/p>\n Mets\u00e4 Group delivered 15.99 million m\u00b3 of wood during the first half of the year, down 3.5% from 16.57 million m\u00b3 in the same period of 2025.<\/p>\n Second-quarter deliveries were comparatively stable at 7.40 million m\u00b3 versus 7.35 million m\u00b3 a year earlier.<\/p>\n Around 90% of the wood supplied during the first half was delivered to industrial operations in Finland.<\/p>\n Wood Supply and Forest Services sales declined to \u20ac1.194 billion in January-June from \u20ac1.378 billion, reflecting both lower wood prices and reduced delivery volumes. Comparable operating profit eased to \u20ac15.5 million from \u20ac18.3 million.<\/p>\n The Finnish raw material market nevertheless remains expensive from an industrial perspective. Mets\u00e4 Group said sawlog prices continue to be historically high, while pulpwood prices remain significantly above their long-term trend despite having been broadly stable during 2026.<\/p>\n Supply from Finland's private forests was lower than in the first half of last year. However, the group's wood purchases were sufficient to meet mill requirements, which had themselves been reduced by weaker market conditions and production curtailments.<\/p>\n The pulpwood markets in Sweden and the Baltic countries were described as balanced during the first half.<\/p>\n Birch logs and FSC-certified wood remain high on the company's purchasing list. Around one-third of wood purchased during the period was either FSC-certified or sourced according to the Mets\u00e4 Group Plus forest management model.<\/p>\n The group also said planned pulp mill shutdowns will not affect its wood purchasing programme.<\/p>\n Pulp prices remain below 2025 levels<\/strong><\/p>\n Pulp deliveries reached 726,000 tonnes during the second quarter, up from 595,000 tonnes a year earlier. First-half deliveries, however, declined slightly to 1.453 million tonnes from 1.481 million tonnes.<\/p>\n Pricing remained the larger problem. Average prices for Mets\u00e4 Group's softwood market pulp in January-June were 8% lower year on year in Europe and 13% lower in China.<\/p>\n Compared with the first quarter, invoicing prices increased by 8% in Europe but fell by 3% in China.<\/p>\n Demand continued to be affected by weak paper and paperboard markets, the structural decline in printing and writing paper consumption and increasing substitution of softwood pulp with hardwood pulp in some applications.<\/p>\n Softwood pulp capacity closures, particularly in North America, have reduced supply, but Mets\u00e4 Group said the market still has excess softwood pulp relative to demand.<\/p>\n Currency movements, including hedging, reduced the first-half operating result of the pulp and sawn timber operations by approximately \u20ac42 million compared with the same period last year.<\/p>\n The Joutseno pulp mill remained shut throughout the second quarter following the market-related production stoppage that began at the end of March. Annual maintenance shutdowns at \u00c4\u00e4nekoski, Rauma and Husum are scheduled for the third quarter and are expected to weaken earnings during the period.<\/p>\n Mets\u00e4 Group increased its sawn timber deliveries in the second quarter as seasonal demand improved and limited spruce availability continued to support the market, although selling prices remained under pressure and construction activity stayed weak across the company’s main markets. … Continue reading \n\n
\n \nIndicator<\/th>\n H1 2026<\/th>\n H1 2025<\/th>\n Change<\/th>\n Q2 2026<\/th>\n Q2 2025<\/th>\n<\/tr>\n<\/thead>\n \n Sawn timber<\/td>\n<\/tr>\n \n Sawn timber deliveries, 1,000 m\u00b3<\/td>\n 684<\/strong><\/td>\n 693<\/td>\n -1.3%<\/td>\n 401<\/strong><\/td>\n 375<\/td>\n<\/tr>\n \n Average sawn timber sales price<\/td>\n -1% y\/y<\/td>\n \u2014<\/td>\n -1%<\/td>\n -2% q\/q<\/td>\n \u2014<\/td>\n<\/tr>\n \n Wood products<\/td>\n<\/tr>\n \n Sales, \u20ac million<\/td>\n 208.9<\/td>\n 254.5<\/td>\n -17.9%<\/td>\n 97.9<\/td>\n 127.3<\/td>\n<\/tr>\n \n Comparable operating result, \u20ac million<\/td>\n -14.0<\/td>\n 0.5<\/td>\n \u2014<\/td>\n -7.4<\/td>\n 1.8<\/td>\n<\/tr>\n \n Engineered wood product deliveries, 1,000 m\u00b3<\/td>\n 174<\/strong><\/td>\n 212<\/td>\n -17.9%<\/td>\n 85<\/td>\n 105<\/td>\n<\/tr>\n \n Wood supply and forest services<\/td>\n<\/tr>\n \n Sales, \u20ac million<\/td>\n 1,194.2<\/td>\n 1,378.4<\/td>\n -13.4%<\/td>\n 564.2<\/td>\n 636.2<\/td>\n<\/tr>\n \n Comparable operating result, \u20ac million<\/td>\n 15.5<\/td>\n 18.3<\/td>\n -15.3%<\/td>\n 6.0<\/td>\n 5.4<\/td>\n<\/tr>\n \n Wood deliveries, 1,000 m\u00b3<\/td>\n 15,985<\/strong><\/td>\n 16,572<\/td>\n -3.5%<\/td>\n 7,396<\/td>\n 7,346<\/td>\n<\/tr>\n \n Pulp and sawn timber business<\/td>\n<\/tr>\n \n Sales, \u20ac million<\/td>\n 1,210.1<\/td>\n 1,376.5<\/td>\n -12.1%<\/td>\n 618.7<\/td>\n 587.8<\/td>\n<\/tr>\n \n Comparable operating result, \u20ac million<\/td>\n -24.8<\/td>\n 6.4<\/td>\n \u2014<\/td>\n -13.2<\/td>\n -31.9<\/td>\n<\/tr>\n \n Pulp deliveries, 1,000 tonnes<\/td>\n 1,453<\/td>\n 1,481<\/td>\n -1.9%<\/td>\n 726<\/td>\n 595<\/td>\n<\/tr>\n<\/tbody>\n<\/table>","protected":false},"excerpt":{"rendered":"