Group Weakened Year on Year on Account of One-off Expenses

In the second quarter of 2013, results figures for the Mets? Wood wood-products division of the Finnish Mets? Group weakened year on year on account of one-off expenses. EBITDA showed year-on-year decline of 39% to €12m. Adjusted for one-off write-offs in the sum of €15.2m, EBITDA was down only slightly to €19.4m. Operating profits plunged by 63% to €4.5m; without taking into consideration one-off expenses, the result was only slightly down, at €11.8m. The division's turnover showed growth of 4% to €260.2m. Demand on all lumber markets has shown its customary seasonal increase, according to Mets?. Continuing surplus supplies of lumber in Europe have been contrasted by favourable sales possibilities for wood products for construction applications on extra-European markets. In April, Mets? Wood had announced that it would axe a total of 73 jobs at Finnish sites as part of its on-going cost-cutting programme.