Finnish paperboard producer Metsä Board has approved a new corporate strategy and long-term financial targets for the period 2026–2030. The company said the plan reflects continued uncertainty in its operating environment and focuses on improving profitability, cost efficiency and financial stability.
The strategy will be implemented in two phases. In the first phase, Metsä Board will continue the cost-saving and profitability improvement programme launched in July 2025. The measures are intended to generate an Ebitda improvement of €200m by the end of 2028 through a streamlined cost structure and higher production efficiency. In the second phase, the company plans to concentrate on expanding its consumer packaging business.
Growth focus on consumer packaging
The updated “Lead the Pack” strategy is structured around three business areas: Consumer Packaging, Retail Packaging and Market Pulp, while financial reporting will remain at group level.
The company identified Consumer Packaging as the key growth driver. Metsä Board aims to improve its position in packaging applications for food, food service, healthcare and other fast-growing consumer goods segments. The company is targeting annual sales revenue growth of more than 4 per cent in this business, exceeding the expected market growth of around 3-4 per cent.
In Retail Packaging, the priority is to improve profitability by fully utilising existing capacity and strengthening cooperation with corrugated packaging producers and converting partners. The target market is forecast to expand at a more modest rate of 1-2 per cent annually.
Market pulp exposure to be reduced
In Market Pulp, Metsä Board aims to reduce exposure to external pulp markets and increase self-sufficiency in order to stabilise cash flow. According to Metsä Board's annual report 2025, market pulp deliveries amounted to 368,000 t, down from 400,000 t in the previous year.
The company says it has invested around €1bn in recent years to improve mill competitiveness, product quality and environmental performance. These investments have increased annual production capacity by roughly 250,000 t and reduced fossil carbon dioxide emissions by 79 per cent compared with 2018 levels. The company also reported that around 93 per cent of its energy consumption is now fossil-free.
Against this backdrop, Metsä Board plans to concentrate on extracting the full value from recently completed projects rather than embarking on major new investments during the current strategy period.
The group’s financial targets for 2026-2030 include achieving comparable return on capital employed of at least 8 per cent in 2027-2028 and at least 12 per cent from 2029 onwards. Net debt to comparable Ebitda is to remain at a maximum of 2.5. The dividend policy is unchanged, with the company aiming to distribute at least half of its net result over time, subject to future investment and development needs.
Metsä Board will present further details on its strategy and financial outlook when publishing its January-March interim report on 29 April 2026.
