Here are Viljakainen’s comments on Metsä Board’s new strategy and new targets. 
Metsä Board announced on Thursday its new strategy and financial targets for 2026–2030. The strategy emphasizes restoring profitability, cost-efficiency, and leveraging previously made investments. These priorities were in line with our expectations, as the likely persistently difficult market situation and the wounds sustained in recent years require a focus on the basics. In our estimation, the targets set by the company for 2027–2028 are realistic but very modest, as, for example, the new 8% ROCE (Return on Capital Employed) target for 2027–2028 is, in our view, below the company’s current cost of capital. The release does not cause immediate changes to our view of the company or our forecasts, as the broad lines of the company’s choices were in line with our estimates.
