Munksjö Oyj - Company Announcement

Munksjö: Terminology change in Munksjö’s financial reporting related to alternative performance measures (APM:s) and updates in the communication policy

Helsinki, Finland, 2016-06-30 11:50 CEST (GLOBE NEWSWIRE) -- 
MUNKSJÖ OYJ, STOCK EXCHANGE RELEASE 30 June 2016 at 11.50 a.m. CEST

Munksjö: Terminology change in Munksjö’s financial reporting related to
alternative performance measures (APM:s) and updates in the communication
policy 

Terminology change in Munksjö’s financial reporting related to APM:s

Munksjö Oyj will change the terminology in its financial reporting in
accordance with the new guidelines from the European Securities and Markets
Authority (ESMA) concerning Alternative Performance Measures (APM’s), effective
for the financial year 2016. 

The change will take effect from the interim report for the second quarter, to
be published on 27 July 2016. APMs should not be considered as a substitute for
measures of performance in accordance with the IFRS. 

The term non-recurring items (NRI) will be changed to items affecting
comparability (IAC), but the definition remains the same. As previously, these
items are exceptional transactions that are not related to recurring business
operations. The items affecting comparability involve items not influencing
ordinary business operations or cash flow, which could arise from asset
impairments, sales of assets, expenses of terminating business operations,
reorganisation expenses, expenses related to changes in legislation or legal
proceedings. 

Munksjö will add a table in its financial reporting from the second quarter of
2016 onwards explaining the main IAC. 

Items affecting comparability 2015-Q1/2016

Reconciliation of adjusted EBITDA and EBIT                                      
--------------------------------------------------------------------------------
- 
                                Jan-Mar  Apr-Ju  Jul-Se  Oct-De  Jan-De  Jan-Mar
                                ch 2015  n 2015     p    c 2015     c    ch 2016
                                                  2015            2015          
--------------------------------------------------------------------------------
----------------------------------------                                        
                                                                                
EBITDA (adj.*)                     26.5    25.0    20.0    22.1    93.6     31.0
                                                                                
Depreciation and impairment       -13.3   -13.5   -13.2   -13.6   -53.6    -14.7
 excl. items affecting                                                          
 comparability in EBIT                                                          
                                                                                
EBIT (adj.*)                       13.2    11.5     6.8     8.5    40.0     16.3
                                                                                
Items affecting comparability                                                   
 in EBIT:                                                                       
Environmental provision                    -2.4                    -2.4         
Other restructuring                                -4.9            -4.9         
                                                                                
Operating result (IFRS)            13.2     9.1     1.9     8.5    32.7     16.3
                                                                                
--------------------------------------------------------------------------------

* Adjusted with items affecting comparability


The definitions and calculations of all Munksjö’s key figures are available in
the financial reports and there will not be any changes in these definitions
and calculations related to the above described terminology change. 

Updates in the communication policy

Munksjö’s silent period will be prolonged. As of the second quarter of 2016,
the length of the silent period is 30 days instead of 21 days. During the
silent period, Munksjö does not attend any conferences/seminars arranged by
financial institutions, meet with the financial market (analysts, investors,
bankers etc.) or the media and does not discuss e.g. unpublished financial
results, the market sentiment, prices and price development, order intake or
order book, production or any other issue related to our financial results. 

Munksjö’s stock exchange releases are also going forward published in three
languages; Finnish, Swedish and English, with the exception of stock exchange
releases related to manager’s transactions. Stock exchange releases related to
manager’s transactions, published in accordance with the Market Abuse
Regulation (MAR), will only be published in English. 

Munksjö Oyj



For more information, please contact:

Anna Selberg, SVP Communications, tel. +46 10 250 10 32
Laura Lindholm, Head of Investor Relations, tel. +46 72 703 63 36


Munksjö - Intelligent paper technology

Munksjö is a world-leading manufacturer of advanced paper products developed
with intelligent paper technology. Munksjö offers customer-specific innovative
design and functionality in areas ranging from flooring, kitchens and
furnishings to release papers, consumer-friendly packaging and energy
transmission. The transition to a sustainable society is a natural driving
force for Munksjö's growth as the products can replace non-renewable materials.
This is what "Made by Munksjö" stands for. Given Munksjö's global presence and
way of integrating with the customers, the company forms a worldwide service
organisation with approximately 2,900 employees and 15 facilities located in
France, Sweden, Germany, Italy, Spain, Brazil and China. Munksjö's share is
listed on Nasdaq in Helsinki and Stockholm. Read more at www.munksjo.com.