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Sales for the fourth quarter of 2011 were EUR 2,686 million, 14% higher than the EUR 2,357 million in the fourth quarter of 2010. Sales increased mainly due to the inclusion of the acquired Myllykoski Corporation and Rhein Papier GmbH, as of 1 August 2011. In addition, sales prices increased, particularly in Paper.
EBITDA decreased to EUR 301 million, 11.2% of sales, from EUR 318 million, 13.5% of sales in the same period last year.
Operating profit was EUR 131 million, 4.9% of sales (207 million, 8.8% of sales). Operating profit includes net charges of EUR 16 million as special items, mainly related to restructuring measures in Paper.
The operating profit excluding special items was EUR 147 million, 5.5% of sales (212 million, 9.0% of sales).
