M-real books a positive EUR 12 million IT related non-recurring item in 1Q 2010 results

Mittwoch, 10.03.2010 08:35 von Hugin

M-real books a positive EUR 12 million IT related non-recurring item in 1Q 2010
results

M-real Corporation Stock Exchange Release 10 March 2010 at 9.30

M-real Corporation, a part of Metsäliitto Group, reverses earlier made IT cost
provisions and books a positive non-recurring item of EUR 12 million in its
1Q 2010 operating result. In segment reporting EUR 9 million is included in
Other operations and EUR 3 million in discontinued operations.

The reversal of the provisions relates to the new IT service contract with Tieto
Corporation published on 3 December 2009 as well as to the renewed IT-contract
with IBM signed today.

As earlier announced, the annual cost savings resulting from changes in IT
services are expected to amount to approximately EUR 30 million.

M-REAL CORPORATION

Further information:
Matti Mörsky, CFO, tel. +358 10 465 4913


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