Weak result 2007 for Myllykoski
Feb 18 2008 Myllykoski's consolidated net sales in 2007 totalled 1,445 million Euros, representing a decrease of 87 million. The operating loss was eleven million Euros.
decrease was due to the closing of MD Dachau and low average paper prices. The operating loss without non-recurring items was eleven million Euros in 2007, compared to a profit of 48 million in 2006. The profit for the year 2007 amounted to one million Euros. The change in German tax legislation had a positive effect of 32 million Euros on the 2007 profit.
The total output by Myllykoski Group mills in 2007 amounted to 2,308,500 tons, which is 4.3 percent less than in the previous year. The decrease in production output was mainly due to capacity reductions and downtime at the German mills. /AA