Edgar Filing: METSO CORP

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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16

of the Securities Exchange Act of 1934

[April 19, 2005]

Metso Corporation

(Translation of registrant’s name into English)
Fabianinkatu 9 A,
PO Box 1220
FIN-00101
Helsinki, Finland

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F


Form 20-F þ		Form 40-F o

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.


Yes o		No þ

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g-32(b):82-______

TABLE OF CONTENTS


SIGNATURES
COMPARATIVE QUARTERLY IFRS INFORMATION FOR 2004

SIGNATURES

Date April 19, 2005

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf of the undersigned, thereunto duly authorized.

Name:


Olli Vaartimo Executive Vice President and CFO Metso Corporation		Harri Luoto Senior Vice President, General Counsel Metso Corporation

COMPARATIVE QUARTERLY IFRS INFORMATION FOR 2004

(Helsinki, Finland, April 19, 2005) — Metso Corporation (NYSE: MX; OMX: MEO)

Regarding its transition to International Financial Reporting Standards (IFRS), Metso published annual comparative information for the year 2004 on March 31, 2005. The attachment to this release describes the 2004 comparative quarterly information for the consolidated income statement, balance sheet and key ratios as well as segment information for net sales and operating profit.

In March 2005, Metso agreed on the sale of mechanical power transmission manufacturer Metso Drives, which was part of Metso Ventures business area. From January 1, 2005 Metso will apply the IFRS 5 standard, under which Metso Drives shall be classified as a discontinued operation and its net result shall be presented on one line in the income statement below the net result for continuing operations. In the releases describing Metso’s transition to IFRS, Metso Drives is still included in the continuing operations, but in the first interim report for 2005, which will be published on April 27, 2005, it will be transferred to discontinued operations also for the comparison year 2004. The net sales and operating profit of Metso Drives in accordance with IFRS for 2004 are presented separately after segment information in the attachment.

Metso is a global technology corporation serving customers in the pulp and paper industry, rock and minerals processing, the energy industry and selected other industries. In 2004, the net sales of Metso Corporation were approx. EUR 4 billion, and it has some 22,000 employees in more than 50 countries. Metso’s shares are listed on the Helsinki and New York Stock Exchanges.

For further information, please contact:
Olli Vaartimo, Executive Vice President and CFO, Metso Corporation, tel. +358 204 84 3010
Reijo Kostiainen, Senior Vice President, Financial Control, Metso Corporation, tel. +358 204 84 3127

USA: Mike Phillips, Senior Vice President, Finance and Administration, Metso USA, Inc., tel. +1 770 246 7237.

ATTACHMENT IFRS Release quarterly information

1 RECONCILIATION OF THE CONSOLIDATED QUARTERLY STATEMENTS OF INCOME


	2004			Effect of									Effect of
	FAS			transition			IFRS			FAS			transition			IFRS
	1-3/			to			1-3/			4-6/			to			4-6/
	2004			IFRS			2004			2004			IFRS			2004
(In millions, except for
per share amounts)	EUR			EUR			EUR			EUR			EUR			EUR
Net sales		928			(104	)		824			1,025			(114	)		911
Cost of goods sold		(704	)		77			(627	)		(760	)		88			(672	)
Gross profit		224			(27	)		197			265			(26	)		239
Selling, general and administrative expenses		(223	)		16			(207	)		(214	)		15			(199	)

Nonrecurring operating income and expenses, net		(3	)		3			—			(9	)		9			—
Other operating income and expenses, net		—			6			6			—			8			8
Amortization of goodwill		(10	)		10			—			(9	)		9			—
Operating profit		(12	)		8			(4	)		33			15			48

Financial income and expenses, net		(11	)		—			(11	)		(18	)		—			(18	)
Profit on continuing operations before tax		(23	)		8			(15	)		15			15			30
Income taxes on continuing operations		(2	)		0			(2	)		(9	)		9			0
Profit on continuing operations		(25	)		8			(17	)		6			24			30

Profit (loss) on discontinued operations		—			(6	)		(6	)		—			(11	)		(11	)
Profit (loss)		(25	)		2			(23	)		6			13			19

Profit (loss) attributable to minority interests		0			—			0			0			—			0
Profit (loss) attributable to equity shareholders		(25	)		2			(23	)		6			13			19

Earnings per share from continuing operations, EUR
Basic		n/a			n/a			(0.13	)		n/a			n/a			0.22
Diluted		n/a			n/a			(0.13	)		n/a			n/a			0.22

Earnings per share from discontinued operations, EUR
Basic		n/a			n/a			(0.04	)		n/a			n/a			(0.08	)
Diluted		n/a			n/a			(0.04	)		n/a			n/a			(0.08	)

Earnings per share from continuing and discontinued operations, EUR
Basic		(0.18	)		0.01			(0.17	)		0.04			0.10			0.14
Diluted		(0.18	)		0.01			(0.17	)		0.04			0.10			0.14


	2004			Effect of									Effect of
	FAS			transition			IFRS			FAS			transition			IFRS
	7-9/			to			7-9/			10-12/			to			10-12/
	2004			IFRS			2004			2004			IFRS			2004
(In millions, except for
per share amounts)	EUR			EUR			EUR			EUR			EUR			EUR
Net sales		931			(11	)		920			1,092			(15	)		1,077
Cost of goods sold		(680	)		9			(671	)		(815	)		10			(805	)
Gross profit		251			(2	)		249			277			(5	)		272

Selling, general and administrative expenses		(195	)		1			(194	)		(212	)		(3	)		(215	)
Nonrecurring operating income and expenses, net		(29	)		29			—			16			(16	)		—
Other operating income and expenses, net		—			3			3			—			(24	)		(24	)
Reversal of Finnish pension liability		—			—			—			—			80			80
Amortization of goodwill		(8	)		8			—			(9	)		9			—
Operating profit		19			39			58			72			41			113

Financial income and expenses, net		(14	)		—			(14	)		(20	)		—			(20	)
Profit on continuing operations before tax		5			39			44			52			41			93

Income taxes on continuing operations		47			(7	)		40			(15	)		(6	)		(21	)
Profit on continuing operations		52			32			84			37			35			72

Profit (loss) on discontinued operations		—			(8	)		(8	)		—			(1	)		(1	)
Profit (loss)		52			24			76			37			34			71

Profit (loss) attributable to minority interests		0			—			0			(1	)		—			(1	)
Profit (loss) attributable to equity shareholders		52			24			76			36			34			70

Earnings per share from continuing operations, EUR
Basic		n/a			n/a			0.62			n/a			n/a			0.54
Diluted		n/a			n/a			0.62			n/a			n/a			0.54

Earnings per share from discontinued operations, EUR
Basic		n/a			n/a			(0.06	)		n/a			n/a			(0.02	)
Diluted		n/a			n/a			(0.06	)		n/a			n/a			(0.02	)

Earnings per share from continuing and discontinued operations, EUR
Basic		0.38			0.18			0.56			0.27			0.25			0.52
Diluted		0.38			0.18			0.56			0.27			0.25			0.52

2 RECONCILIATION OF THE CONSOLIDATED BALANCE SHEETS

ASSETS


	2004		Effect of							Effect of
	FAS		transition			IFRS		FAS		transition			IFRS
	Mar 31,		to			Mar 31,		Jun 30,		to			Jun 30,
	2004		IFRS			2004		2004		IFRS			2004
(In millions)	EUR		EUR			EUR		EUR		EUR			EUR
Non-current assets
Intangible assets
Goodwill		597		(109	)		488		486		16			502
Other intangible assets		133		(28	)		105		104		(6	)		98
		730		(137	)		593		590		10			600
Property, plant and equipment
Land and water areas		73		2			75		72		4			76
Buildings and structures		307		(28	)		279		278		(5	)		273
Machinery and equipment		347		(23	)		324		315		(2	)		313
Assets under construction		36		—			36		39		—			39
		763		(49	)		714		704		(3	)		701
Financial assets
Investments in associated companies		15		—			15		16		—			16
Available for sale investments		17		—			17		12		—			12
Treasury stock		1		—			1		1		—			1
Loan and other interest bearing receivables		14		(1	)		13		13		(1	)		12
Deferred tax asset		—		129			129		—		139			139
Other non-current assets		31		(14	)		17		30		(13	)		17
		78		114			192		72		125			197

Total non-current assets		1,571		(72	)		1,499		1,366		132			1,498

Current assets
Inventories		791		(118	)		673		702		(10	)		692

Receivables
Trade and other receivables		865		(79	)		786		849		(10	)		839
Cost and earnings of projects under construction in excess of advance billings		221		—			221		207		—			207
Interest bearing receivables		20		—			20		35		—			35
Deferred tax asset		141		(141	)		—		152		(152	)		—
		1,247		(220	)		1,027		1,243		(162	)		1,081


	2004		Effect of							Effect of
	FAS		transition			IFRS		FAS		transition			IFRS
	Mar 31,		to			Mar 31,		Jun 30,		to			Jun 30,
	2004		IFRS			2004		2004		IFRS			2004
(In millions)	EUR		EUR			EUR		EUR		EUR			EUR
Cash and cash equivalents		164		—			164		419		—			419
Total current assets		2,202		(338	)		1,864		2,364		(172	)		2,192

Assets held for sale		—		408			408		—		42			42

TOTAL ASSETS		3,773		(2	)		3,771		3,730		2			3,732

ASSETS


			Effect of							Effect of
	FAS		transition			IFRS		FAS		transition			IFRS
	Sep 30,		to			Sep 30,		Dec 31,		to			Dec 31,
	2004		IFRS			2004		2004		IFRS			2004
(In millions)	EUR		EUR			EUR		EUR		EUR			EUR
Non-current assets
Intangible assets
Goodwill		477		24			501		458		33			491
Other intangible assets		104		(6	)		98		104		(10	)		94
		581		18			599		562		23			585
Property, plant and equipment
Land and water areas		69		4			73		65		5			70
Buildings and structures		267		(5	)		262		257		(4	)		253
Machinery and equipment		309		7			316		300		7			307
Assets under construction		28		—			28		19		—			19
		673		6			679		641		8			649
Financial assets
Investments in associated companies		18		—			18		17		—			17
Available for sale investments		10		—			10		10		—			10
Treasury stock		1		—			1		1		—			1
Loan and other interest bearing receivables		11		—			11		17		(2	)		15
Deferred tax asset		53		141			194		—		159			159
Other non-current assets		31		(14	)		17		48		(11	)		37
		124		127			251		93		146			239
Total non-current assets		1,378		151			1,529		1,296		177			1,473

Current assets
Inventories		744		(20	)		724		687		5			692

Receivables


	2004		Effect of							Effect of
	FAS		transition			IFRS		FAS		transition			IFRS
	Mar 31,		to			Mar 31,		Jun 30,		to			Jun 30,
	2004		IFRS			2004		2004		IFRS			2004
(In millions)	EUR		EUR			EUR		EUR		EUR			EUR
Trade and other receivables		839		(10	)		829		792		(2	)		790
Cost and earnings of projects under construction in excess of advance billings		196		—			196		191		(1	)		190
Interest bearing receivables		19		15			34		6		47			53
Deferred tax asset		154		(154	)		—		187		(187	)		—
		1,208		(149	)		1,059		1,176		(143	)		1,033

Cash and cash equivalents		301		(16	)		285		419		(47	)		372

Total current assets		2,253		(185	)		2,068		2,282		(185	)		2,097

Assets held for sale		—		47			47		—		—			—

TOTAL ASSETS		3,631		13			3,644		3,578		(8	)		3,570

SHAREHOLDERS’ EQUITY AND LIABILITIES


				Effect of									Effect of
	FAS			tran-			IFRS			FAS			tran-			IFRS
	Mar 31,			sition			Mar 31,			Jun 30,			sition			Jun 30,
	2004			to IFRS			2004			2004			to IFRS			2004
(In millions)	EUR			EUR			EUR			EUR			EUR			EUR
Equity
Share capital		232			—			232			232			—			232

Other shareholders’ equity
Share premium reserve		14			—			14			14			—			14
Legal reserve		228			—			228			228			—			228
Cumulative translation differences		(68	)		28			(40	)		(71	)		28			(43	)
Treasury stock		1			—			1			1			—			1
Other reserves		202			—			202			202			—			202
Retained earnings		414			(175	)		239			385			(174	)		211
Net profit (loss) for the period		(25	)		2			(23	)		(19	)		15			(4	)
Equity attributable to shareholders		998			(145	)		853			972			(131	)		841

Minority interests		7			—			7			7			—			7

Total equity		1,005			(145	)		860			979			(131	)		848

Liabilities


				Effect of									Effect of
	FAS			tran-			IFRS			FAS			tran-			IFRS
	Mar 31,			sition			Mar 31,			Jun 30,			sition			Jun 30,
	2004			to IFRS			2004			2004			to IFRS			2004
(In millions)	EUR			EUR			EUR			EUR			EUR			EUR
Non-current liabilities
Long-term debt		962			(33	)		929			946			(32	)		914
Post employment benefit obligations		—			232			232			—			230			230
Deferred tax liability		21			12			33			20			12			32
Provisions		—			51			51			—			50			50
Other long-term liabilities		131			(122	)		9			129			(120	)		9
Total non-current liabilities		1,114			140			1,254			1,095			140			1,235

Current liabilities
Current portion of long-term debt		15			—			15			20			—			20
Short-term debt		243			—			243			194			—			194
Trade and other payables		1,174			(64	)		1,110			1,141			(29	)		1,112
Advances received		177			24			201			213			9			222
Billings in excess of cost and earnings of projects under construction		45			—			45			88			—			88
Total current liabilities		1,654			(40	)		1,614			1,656			(20	)		1,636

Liabilities held for sale		—			43			43			—			13			13

Total liabilities		2,768			143			2,911			2,751			133			2,884

TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES		3,773			(2	)		3,771			3,730			2			3,732

NET INTEREST BEARING LIABILITIES

Long-term interest bearing debt		962			(33	)		929			946			(32	)		914
Short-term interest bearing debt		258			0			258			214			0			214
Cash and cash equivalents		(164	)		0			(164	)		(419	)		0			(419	)
Other interest bearing assets		(34	)		1			(33	)		(48	)		1			(47	)
Total		1,022			(32	)		990			693			(31	)		662

SHAREHOLDERS’ EQUITY AND LIABILITIES

Effect of

FAS

tran-

IFRS

FAS

tran-

IFRS

Sep 30,

sition

Sep 30,

Dec 31,

sition

Dec 31,

2004

to IFRS

2004

to IFRS

2004

(In millions)

EUR

Equity


				Effect of									Effect of
	FAS			tran-			IFRS			FAS			tran-			IFRS
	Sep 30,			sition			Sep 30,			Dec 31,			sition			Dec 31,
	2004			to IFRS			2004			2004			to IFRS			2004
(In millions)	EUR			EUR			EUR			EUR			EUR			EUR
Share capital		232			—			232			232			—			232
Other shareholders’ equity
Share premium reserve		14			—			14			14			—			14
Legal reserve		228			—			228			228			—			228
Cumulative translation differences		(69	)		28			(41	)		(80	)		32			(48	)
Treasury stock		1			—			1			1			—			1
Other reserves		202			—			202			202			—			202
Retained earnings		388			(174	)		214			386			(168	)		218
Net profit (loss) for the period		33			39			72			69			74			143
Equity attributable to shareholders		1,029			(107	)		922			1,052			(62	)		990

Minority interests		5			2			7			5			—			5

Total equity		1,034			(105	)		929			1,057			(62	)		995

Liabilities
Non-current liabilities
Long-term debt		934			(33	)		901			920			(35	)		885
Post employment benefit obligations		—			230			230			—			171			171
Deferred tax liability		18			12			30			8			8			16
Provisions		—			50			50			—			31			31
Other long-term liabilities		128			(118	)		10			128			(122	)		6
Total non-current liabilities		1,080			141			1,221			1,056			53			1,109

Current liabilities
Current portion of long- term debt		15			—			15			19			—			19
Short-term debt		27			—			27			31			—			31
Trade and other payables		1,154			(37	)		1,117			1,072			(7	)		1,065
Advances received		252			3			255			219			8			227
Billings in excess of cost and earnings of projects under construction		69			—			69			124			—			124
Total current liabilities		1,517			(34	)		1,483			1,465			1			1,466

Liabilities held for sale		—			11			11			—			—			—

Total liabilities		2,597			118			2,715			2,521			54			2,575

TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES		3,631			13			3,644			3,578			(8	)		3,570


				Effect of									Effect of
	FAS			tran-			IFRS			FAS			tran-			IFRS
	Sep 30,			sition			Sep 30,			Dec 31,			sition			Dec 31,
	2004			to IFRS			2004			2004			to IFRS			2004
(In millions)	EUR			EUR			EUR			EUR			EUR			EUR
NET INTEREST BEARING LIABILITIES

Long-term interest bearing debt		934			(33	)		901			920			(35	)		885
Short-term interest bearing debt		42			0			42			51			(1	)		50
Cash and cash equivalents		(301	)		16			(285	)		(419	)		47			(372	)
Other interest bearing assets		(30	)		(15	)		(45	)		(23	)		(45	)		(68	)
Total		645			(32	)		613			529			(34	)		495

4 KEY RATIOS


	FAS			IFRS			FAS			IFRS
	Mar 31,			Mar 31,			Jun 30,			Jun 30,
	2004			2004			2004			2004

Earnings per share from continuing operations, EUR		n/a			(0.13	)		n/a			0.09
Earnings per share from discontinued operations, EUR		n/a			(0.04	)		n/a			(0.12	)
Earnings per share from continuing and discontinued operations, EUR		(0.18	)		(0.17	)		(0.14	)		(0.03	)
Equity/share, EUR		7.33			6.26			7.14			6.17
Return on equity (ROE), %		(8.9	)		(21.3	)		(3.6	)		(1.4	)
Return on capital employed (ROCE), %		(1.1	)		(1.8	)		2.6			1.8
Equity to assets ratio, %		28.3			24.4			28.5			24.8
Gearing, %		101.7			115.3			70.9			78.2
Average number of shares (thousands)		136,190			136,190			136,190			136,190


	FAS		IFRS			FAS		IFRS
	Sep 30,		Sep 30,			Dec 31,		Dec 31,
	2004		2004			2004		2004

Earnings per share from continuing operations, EUR		n/a		0,71			n/a		1.25
Earnings per share from discontinued operations, EUR		n/a		(0.18	)		n/a		(0.20	)
Earnings per share from continuing and discontinued operations, EUR		0.24		0.53			0.51		1.05
Equity/share, EUR		7.55		6.77			7.72		7.27
Return on equity (ROE), %		4.3		14.6			6.9		19.8
Return on capital employed (ROCE), %		3.1		10.0			5.7		11.0
Equity to assets ratio, %		31.2		28.0			32.7		30.9
Gearing, %		62.3		66.1			50.0		49.7


	FAS		IFRS		FAS		IFRS
	Sep 30,		Sep 30,		Dec 31,		Dec 31,
	2004		2004		2004		2004
Average number of shares (thousands)		136,190		136,190		136,190		136,190

Formulas for calculation of key ratios

Earnings/share:

Profit (loss)
Average number of shares during period

Equity/share:

Equity attributable to shareholders
Number of shares at end of period

Return on capital employed (ROCE), %:

Profit (loss) on before tax x 100
+ interest and other financial expenses
Balance sheet total — non-interest bearing liabilities
(average for period)

Return on equity (ROE), %:

Profit (loss) x 100
Total equity (average for period)

Equity to assets ratio, %:

Total equity x 100
Balance sheet total — advances received

Gearing, %:

Net interest bearing liabilities x 100
Total equity

QUARTERLY INFORMATION

Net sales by business area:


	FAS		FAS		FAS		FAS		FAS
	1-3/		4-6/		7-9/		10-12/		1-12/
	2004		2004		2004		2004		2004
(Millions)	EUR		EUR		EUR		EUR		EUR
Metso Paper		360		351		378		470		1,559
Metso Minerals		279		339		334		391		1,343


	FAS			FAS			FAS			FAS			FAS
	1-3/			4-6/			7-9/			10-12/			1-12/
	2004			2004			2004			2004			2004
(Millions)	EUR			EUR			EUR			EUR			EUR
Metso Automation		113			135			140			147			535
Metso Ventures		91			106			92			98			387
Intra Metso net sales		(24	)		(25	)		(30	)		(36	)		(115	)
Continuing operations		819			906			914			1,070			3,709
Discontinued operations		109			119			17			22			267
Metso total		928			1,025			931			1,092			3,976


	IFRS			IFRS			IFRS			IFRS			IFRS
	1-3/			4-6/			7-9/			10-12/			1-12/
	2004			2004			2004			2004			2004
(Millions)	EUR			EUR			EUR			EUR			EUR
Metso Paper		360			351			378			470			1,559
Metso Minerals		284			344			340			398			1,366
Metso Automation		113			135			140			147			535
Metso Ventures		91			106			92			98			387
Intra Metso net sales		(24	)		(25	)		(30	)		(36	)		(115	)
Continuing operations		824			911			920			1,077			3,732
Discontinued operations		—			—			—			—			—
Metso total		824			911			920			1,077			3,732

Other operating income and expenses, net by business area:


	IFRS			IFRS		IFRS			IFRS			IFRS
	1-3/			4-6/		7-9/			10-12/			1-12/
	2004			2004		2004			2004			2004
(Millions)	EUR			EUR		EUR			EUR			EUR
Metso Paper		1.8			1.6		(1.2	)		(18.9	)		(16.7	)
Metso Minerals		0.9			1.8		2.1			(4.1	)		0.7
Metso Automation		0.0			0.1		0.2			(3.6	)		(3.3	)
Metso Ventures		(1.4	)		0.0		(0.2	)		0.1			(1.5	)


	IFRS		IFRS		IFRS		IFRS			IFRS
	1-3/		4-6/		7-9/		10-12/			1-12/
	2004		2004		2004		2004			2004
(Millions)	EUR		EUR		EUR		EUR			EUR
Corporate Office and other		4.9		4.4		2.7		2.3			14.3
Continuing operations		6.2		7.9		3.6		(24.2	)		(6.5	)
Discontinued operations		—		—		—		—			—
Metso total		6.2		7.9		3.6		(24.2	)		(6.5	)

Reversal of Finnish pension liability by business area:


	IFRS		IFRS		IFRS		IFRS		IFRS
	1-3/		4-6/		7-9/		10-12/		1-12/
	2004		2004		2004		2004		2004
(Millions)	EUR		EUR		EUR		EUR		EUR
Metso Paper		—		—		—		39.8		39.8
Metso Minerals		—		—		—		4.9		4.9
Metso Automation		—		—		—		13.7		13.7
Metso Ventures		—		—		—		19.4		19.4
Corporate Office and other		—		—		—		2.3		2.3
Continuing operations		—		—		—		80.1		80.1
Discontinued operations		—		—		—		—		—
Metso total		—		—		—		80.1		80.1

Operating profit (loss) by business area:


	FAS			FAS			FAS			FAS			FAS
	1-3/			4-6/			7-9/			10-12/			1-12/
	2004			2004			2004			2004			2004
(Millions)	EUR			EUR			EUR			EUR			EUR
Metso Paper		(17.9	)		9.3			(3.0	)		22.7			11.1
Metso Minerals		8.0			20.1			18.5			37.7			84.3
Metso Automation		5.8			12.1			18.9			16.1			52.9
Metso Ventures		(1.1	)		(0.5	)		(5.2	)		(0.3	)		(7.1	)
Corporate Office and other		(3.3	)		(7.6	)		(3.2	)		(7.8	)		(21.9	)


	FAS			FAS			FAS			FAS		FAS
	1-3/			4-6/			7-9/			10-12/		1-12/
	2004			2004			2004			2004		2004
(Millions)	EUR			EUR			EUR			EUR		EUR
Continuing operations		(8.5	)		33.4			26.0			68.4		119.3
Discontinued operations		(3.6	)		(0.8	)		(7.2	)		3.2		(8.4	)
Metso total		(12.1	)		32.6			18.8			71.6		110.9


	IFRS			IFRS			IFRS			IFRS			IFRS
	1-3/			4-6/			7-9/			10-12/			1-12/
	2004			2004			2004			2004			2004
(Millions)	EUR			EUR			EUR			EUR			EUR
Metso Paper		(16.2	)		10.8			20.1			33.3			48.0
Metso Minerals		12.8			27.7			28.2			36.5			105.2
Metso Automation		5.9			12.9			19.6			31.2			69.6
Metso Ventures		(2.4	)		(0.3	)		(5.6	)		18.8			10.5
Corporate Office and other		(4.2	)		(3.6	)		(4.1	)		(6.4	)		(18.3	)
Continuing operations		(4.1	)		47.5			58.2			113.4			215.0
Discontinued operations		—			—			—			—			—
Metso total		(4.1	)		47.5			58.2			113.4			215.0

Additional information regarding Metso Drives


	IFRS		IFRS		IFRS		IFRS		IFRS
	1-3/		4-6/		7-9/		10-12/		1-12/
	2004		2004		2004		2004		2004
(Millions)	EUR		EUR		EUR		EUR		EUR
External net sales		30		33		33		34		130
Net sales to other Metso Business Areas		7		7		7		6		27
Total net sales		37		40		40		40		157
Operating profit		3.1		1.4		3.0		7.9		15.4

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