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2009-03-06 10:20:01 CET 2009-03-06 10:20:35 CET REGULATED INFORMATION M-real - Company AnnouncementM-real's first quarter 2009 operating result excluding non-recurring items weaker than in the previous quarterM-real Corporation Stock Exchange Release 6 March 2009 In connection with the announcement of the full year results 2008 on February 5, 2009 M-real expected the operating result for the first quarter of 2009, excluding non-recurring items, to improve seasonally from the fourth quarter of 2008 but to remain clearly negative. It was also stated that the general uncertainty of the economy poses challenges to the short-term forecasting. Demand and delivery volumes have remained weaker than estimated and production curtailments have continued on a larger scale than earlier planned. Additionally, market price for pulp has continued to strongly decline during the first months of the year and the pulp inventories have increased. There has been a need to write down the value of the pulp inventories. Due to these factors, M-real's first quarter 2009 operating result, excluding non-recurring items, is expected to be weaker than in the previous quarter. Due to the high uncertainty of the general economy it is currently exceptionally challenging to forecast the profitability development. Therefore, when issuing a future outlook, M-real will not give specified result estimates until further notice. M-REAL CORPORATION Further information: Seppo Parvi, CFO, tel. +358 10 465 4321 Juha Laine, VP, IR and Communications, tel. +358 10 465 4335 |
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