February 14, 2014 2:20 PM
EBITA decreased, mainly because of a delay linked to an individual, major pulp project delivery and the project’s higher-than-estimated costs (about EUR 30 million). Capacity utilization in the Board and Paper, and Energy business units was also low.
EUR 30 million is currently our best estimate, and that was fully booked in Q4 of 2013.
The profitability in capital businesses was weak in 2013 and declined from 2012.
We have the possibility for temporary lay-offs in Finland if needed.
We expect to see cost savings of EUR 100 million by the end of 2014, no guidance for Q1/H1/H2.
Market activity in both business units has improved. We have also cut our own capacity, and the short-term outlook reflects also our own capacity utilization.
The short-term outlook is for the next 6 months.
As the profitability is weak in capital businesses, it is important to increase the profitability in these businesses.