Latest news with #ElviiraLuoma
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
08-02-2025
- Business
- Yahoo
Saab expects organic sales growth between 12%-16% in 2025
(Reuters) - Saab expects organic sales growth of between 12% and 16% in 2025, the Swedish defence equipment maker said on Friday, as it also updated its medium-term targets for 2023-2027. It said it expects an organic sales growth of around 18% (CAGR) for the 2023-2027 period, against a previously expected level around 15% CAGR. The group posted sales and operating result for the October-December quarter in line with what it had pre-announced earlier in January. "We expect continued high demand for our portfolio and see opportunities to accelerate Saab's development by further bringing forward significant investments to increase capacity," CEO Micael Johansson said in an earnings statement. The company is riding an industry-wide boom in demand as rising global tensions, not least due to Russia's war in Ukraine, fuel rapid rearmament. (Reporting By Elviira Luoma and Jagoda Darlak in Gdansk, editing by Terje Solsvik) Sign in to access your portfolio
Yahoo
07-02-2025
- Business
- Yahoo
Saab expects organic sales growth between 12%-16% in 2025
(Reuters) - Saab expects organic sales growth of between 12% and 16% in 2025, the Swedish defence equipment maker said on Friday, as it also updated its medium-term targets for 2023-2027. It said it expects an organic sales growth of around 18% (CAGR) for the 2023-2027 period, against a previously expected level around 15% CAGR. The group posted sales and operating result for the October-December quarter in line with what it had pre-announced earlier in January. "We expect continued high demand for our portfolio and see opportunities to accelerate Saab's development by further bringing forward significant investments to increase capacity," CEO Micael Johansson said in an earnings statement. The company is riding an industry-wide boom in demand as rising global tensions, not least due to Russia's war in Ukraine, fuel rapid rearmament. (Reporting By Elviira Luoma and Jagoda Darlak in Gdansk, editing by Terje Solsvik) Sign in to access your portfolio
Yahoo
05-02-2025
- Business
- Yahoo
Assa Abloy to hike prices if US implements tariffs on Canada and Mexico, CEO says
By Elviira Luoma (Reuters) - Sweden's Assa Abloy plans to raise its prices if U.S. President Donald Trump moves ahead with the tariffs on Canada and Mexico, the CEO of the world's biggest lockmaker said on Wednesday. Trump on Monday paused his threat of 25% tariffs on Mexico and Canada for 30 days, while his additional 10% tariff across all Chinese imports into the U.S. came into effect on Tuesday. The rival to Allegion and Stanley Black & Decker is increasing its inventory in the U.S., CEO Nico Delvaux told Reuters, and added that if the paused duties were carried out, it would seek to compensate for them also through higher prices. "We are the market leader for most of the things we do in the U.S.," Delvaux said. "Therefore we also have to play the role of being the first one to come with price increases and we are confident that our colleagues in the market ... will follow those price increases." Assa Abloy, whose products range from security doors to electronic and mechanical locks under brands such as Yale, also said on Wednesday that very weak demand in China continued to weigh on its Asia Pacific business in the fourth quarter. The company, which has been suffering for many quarters due to China's weak real estate market, said organic sales in the Asia Pacific segment fell 11% in the quarter, while they were little changed on a group level. However, Assa Abloy sees very good momentum in its main markets — North America, Europe and Oceania — where commercial activity remains at a very high level, Delvaux said. On a reported basis, the company's sales grew by 7% in the fourth quarter, boosted by recent acquisitions. It made eight acquisitions in the final quarter and 26 overall during 2024. Quarterly operating profit, excluding items affecting comparability, rose 14% to 6.53 billion Swedish crowns ($595.4 million) in the quarter. The company's shares were down 1.7% by 1235 GMT. ($1 = 10.9683 Swedish crowns)
