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, technical films and personal care 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