Powerflute reports net sales of 253.7 million Euros (108.0) and an operating profit of 33.1 million Euros (-6.0), including gain of 33.0 million on acquisition of Scheufelen paper mill in Germany. Underlying EBITDA is 14.1 million Euros (-12.4).During 2009 the integration of Papierfabrik Scheufelen, a manufacturer of coated woodfree papers, was completed. Powerflute's wood procurement partnership with Myllykoski Corporation, Harvestia, assumed total responsibility for management of all wood deliveries to the Savon Sellu mill in Kuopio. During the second half of the year there was a strong improvement in demand for both graphic and packaging papers."Despite the challenging economic conditions, 2009 was a successful year for the Group. We completed the acquisition and integration of Papierfabrik Scheufelen, which more than doubled our revenues and made a very significant contribution to the operating performance and cash generation of the Group. In our other business, Savon Sellu, we made good progress with a number of strategic initiatives intended to improve production efficiency and maintain our strong market position, although operating performance was significantly affected by the difficult trading environment," comments Dermot Smurfit, Chairman of Powerflute.On January 1 2010, Marco Casiraghi took up the position as CEO.