Latest news with #AgnieszkaOlenska
Yahoo
25-04-2025
- Business
- Yahoo
Stora Enso tops profit forecast, eyes 'new opportunities' amid trade war
By Agnieszka Olenska and Elviira Luoma (Reuters) -Finnish forestry group Stora Enso's first-quarter operating profit beat market expectations on Friday, even as it warned that market demand would remain subdued amid concerns triggered by U.S. President Donald Trump's tariffs. CEO Hans Sohlström said the direct impact at current tariff rates was limited, as Stora's direct sales to the U.S. accounted for just below 3% of group sales in 2024. Local peer UPM on Thursday also warned of an indirect tariff hit while saying the direct impact should be limited, despite its much bigger exposure to the United States. Sohlström underscored that in addition to the risks, there were also opportunities arising from tariffs to develop Stora's sales into new markets, without specifying which regions he was referring to. "The key here is ... to reposition, but also to renegotiate prices in the U.S. to compensate for tariffs in the U.S., but at the same time also to grasp new opportunities in new markets," he told Reuters in an interview. The company's adjusted operating profit, or earnings before interest and taxes, rose to 175 million euros ($198.42 million)in the first quarter, trouncing analysts' 124.9 million euro forecast in a poll by Vara Research. Its shares were up 1% at 0905 GMT, while UPM fell 1%. "The clearest outperformance against our forecasts came from Packaging Materials, Packaging Solutions and Wood Products in terms of turnover," Inderes analyst Antti Viljakainen said in a research note. Stora also said it expected the ramp-up of its new packaging board line in Oulu, Finland to have a negative impact of about 100 million euros on its annual adjusted operating profit, and forecast capital expenditures of 730-790 million euros for 2025. ($1 = 0.8820 euros)
Yahoo
11-02-2025
- Business
- Yahoo
Stora Enso's profit more than doubles, but lack of guidance knocks shares
By Elviira Luoma, Agnieszka Olenska (Reuters) -Finnish forestry group Stora Enso said on Tuesday its fourth quarter operating profit more than doubled from a year earlier, as expected by analysts, driven by price increases and cost saving actions. Its adjusted operating profit, or earnings before interest and taxes, rose to 121 million euros ($124.7 million) in the final quarter of the year from 51 million euros in the same period in 2023. That was just below analysts' forecast of 122.4 million euros in a Vara Research poll. Stora Enso's shares were down 4.2% by 0836 GMT, which analysts at and Inderes said was due to the lack of a detailed guidance for 2025. Shares of Finnish peer UPM also slid 2% in early trading. "As a change to prior practices, Stora Enso will continue to provide comments on its outlook but not a specific annual EBIT guidance," the company said in the earnings statement. Finland is a major producer and exporter of pulp, paper and other products that are based on logging in the country's vast forests. Last October, Stora Enso put some of its Swedish forest assets up for sale to reduce debt. It said on Tuesday that the sale process was ongoing, with an aim to sell about 12% of its total forest assets in Sweden of 1.4 million hectares. The fair value of those assets is 6.3 billion euros, it said. "We are at the stage of the process where we are talking to several potential buyer candidates," CEO Hans Sohlstrom told Reuters, but said he could not comment on the price or the potential buyers at this stage. ($1 = 0.9702 euros) Sign in to access your portfolio
Yahoo
06-02-2025
- Business
- Yahoo
Securitas tops Q4 profit forecast boosted by strong growth in Europe
By Jesus Calero and Agnieszka Olenska (Reuters) -Sweden's Securitas reported a bigger than expected jump in its fourth quarter core profit on Thursday, largely driven by strong growth in its security services business in Europe. Its shares rose 2.5% by 0837 GMT, on track for their best day since early November if the gains hold. Securitas is one of the leading providers of security solutions that protect assets, data and critical infrastructure for a range sectors such as government, retail, healthcare and finance. Its quarterly operating earnings before amortisation (EBITA) grew 13% to 3.04 billion Swedish crowns ($278.5 million), beating analysts' average forecast of 2.98 billion crowns in a poll provided by the company. The European business posted a 12% rise in fourth quarter EBITA, with security services in North America and the global technology and solutions unit also contributing to the growth, Securitas said. The company added it was on track with its strategic plan and remained committed to its operating margin target of 8% by the end of 2025. It reached a margin of 6.9% last year. Securitas proposed a dividend of 4.50 crowns per share for 2024, up from the 3.80 crowns per share it paid last year and above the 4.35 crowns expected by analysts, according to LSEG's IBES data. The acquisition of Stanley Security, which Securitas closed in 2022, has added technology solutions exposure to its staff-intensive offering, but also loaded it with significant debt that it has been seeking to reduce in recent quarters. "Late in the fourth quarter, we signed a put option agreement to divest our airport security business in France due to the limited opportunity to pursue our long term strategy at a healthy financial performance," CEO Magnus Ahlqvist said in the earnings statement. ($1 = 10.9149 Swedish crowns) Sign in to access your portfolio
