We buy

Our value chain

We sell



Wood fibre
Pulp mill
Wood fibre
Paper mill
Pulp and paper for recycling
Virgin and recycled containerboard, kraft paper and uncoated fine paper
Film-extrusion and nonwoven production
Converting operations
Resins, films and other materials
Corrugated packaging, industrial bags, extrusion coatings, advanced films and hygiene components, release liner and consumer goods packaging

Key inputs

  • High-quality, well-invested, low-cost integrated production base
  • Engagement and collaboration with customers and suppliers
  • Strong financial position and cash flow generation
  • Responsible procurement of raw materials and other inputs
  • Diverse and talented people with a broad range of skills and experience
  • Constructive relationships with communities, governments, NGOs and other stakeholders

Our competitive advantages

  • Superior returns on capital employed thanks to our disciplined approach to, and implementation of investment decisions
  • Inherent and sustainable cost advantages because of our high-quality, low-cost production base; footprint in emerging markets; and focus on driving performance
  • Improved security of supply and reduced exposure to price volatility by being integrated through the value chain
  • Consistently high level of service and innovation driven by our scale, global reach, diverse product range and strong market positions
  • Integrated approach to sustainable development and risk management, safeguarding our long-term future
  • Commitment to unlocking the potential of our people by promoting a safe, inspiring and productive working environment

Key outputs in 2016

  • High-performing operations
    -  20.3% ROCE
    -  19 production records on pulp/paper machines
  • Innovative products and solutions
    -  €19m spent on research & development
    -  6 innovation centres
  • Capital appreciation and dividends to shareholders
    -  10% increase in dividends
    -  314% Total Shareholder Return (5 years)
  • Sustainably managed natural resources
    -  67% of wood FSC or PEFC certified
    -  100% owned/managed forests FSC certified
  • Inspired and skilled people
    -  790,000 training hours
    -  90% biennial employee survey participation (2015)
  • Support to regional economies and local communities
    -  €173m direct taxes paid
    -  €8m community investment