Q4 2020 Metsa Board Oyj Earnings Call Transcript
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Good afternoon, everyone, and welcome to the presentation of Metsä Board's results for the fourth quarter and full year of 2020. My name is Mika Joukio, and I'm the CEO of Metsä Board. Together here with me, I have our CFO, Jussi Noponen; and head of investor relations, Katri Sundstrom.
As always, let's first take a look at the main events of the fourth quarter. Good demand in paperboard continued during the quarter, and delivery volumes decreased only slightly from Q3 levels. This development is normal due to seasonality. The pulp market was strong, especially in China, and demand was on a good level.
Metsä Board's market pulp deliveries grew clearly from the levels of previous quarters. Prices of market pulp increased both in China and in Europe. Our material production efficiency was at the high level, which reduced production costs and improved profitability. The comparable operating result was EUR 65 million, roughly at the same level of Q3.
The amendment of the environmental permit regarding the
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