Metsä Group's July-September turnover fell to 1.34 billion euros from 1.51 billion euros at the same time last year. The comparable operating result, on the other hand, improved to 113 million euros from last year's 51 million euros.

The operating result includes EUR 67 million in insurance claims for the gas explosion at the bioproduct factory in Kemi. Negotiations with insurance companies continue to cover the remaining estimated financial losses.

The company's turnover in January-September was 4.27 billion euros, while it was 4.62 billion euros a year earlier. Comparable operating profit fell to 170 million euros from last year's 431 million euros.

"The high cost level combined with generally low demand in a weak economy led to Metsä Group's weak result in the third quarter," CEO Ilkka Hämälä states in the earnings release.