The company said that seasonal fluctuations in demand, production shutdowns during the summer and high raw material prices in relation to end product prices would have a negative impact.

Overall, Metsä Group recorded operating profits of €105m (2011: €185m) from sales of €2.5bn (2011: €2.8bn).

The group said continuing uncertainty in economies, new regulations such as the suphur directive and increases in the Finnish waste tax have a significant impact on the operations conditions of the forest industry.