Metsäliitto has posted a pre-tax loss excluding non-recurring items of €192m for 2008.
The result compares to a €90m profit in 2007. Sales last year reached €6.43bn, down from €6.79bn a year ago.
The group, which includes the Finnforest business, experienced a difficult fourth quarter, with pre-tax losses totalling €148m.
Metsäliitto said its wood product sales decreased by almost 20% year on year, with the largest losses in the solid wood division.
The wood products division recorded an operating loss excluding non-recurring items of €53m. Solid wood production reduced by 20%, while plywood, Kerto product, I-beam and glulam production curtailments were started last autumn.
The Kaskinen mill deployed a new surface treatment line for the production of façade and exterior cladding products. Garden products were also further developed and the Kesto Plus range introduced.
“Due to the uncertain general financial situation, Metsäliitto will not provide an assessment for the entire year at this point,” the company said.
