Latest news with #StoraEnso
Yahoo
22-05-2025
- Business
- Yahoo
Stora Enso appoints Jutta Mikkola as Senior Vice President, Investor Relations
STORA ENSO OYJ INVESTOR NEWS 22 May 2025 at 10:00 EEST HELSINKI, May 22, 2025 /PRNewswire/ -- Stora Enso announces the appointment of Jutta Mikkola as new Senior Vice President and head of Investor Relations. Jutta will start her new role on 22 May and report to Niclas Rosenlew, Chief Financial Officer at Stora Enso. Jutta has been with Stora Enso for eight years in several business and finance leadership roles, and most recently worked as Vice President in the Investor Relations team. Before joining Stora Enso, she worked at KPMG as Certified Public Accountant. Jutta holds a Master of Science degree in Accounting and Finance. Anna-Lena Åström, currently Senior Vice President Investor Relations at Stora Enso, is leaving the Company to assume another role. "We welcome Jutta to lead Stora Enso's IR team. Jutta's strong financial background coupled with her extensive experience of Stora Enso's business will be key in continuing to build important relationships with the investor and shareholder communities. I also want to thank Anna-Lena for her many contributions whilst she has been in the role and wish her the best of luck in her future endeavours," says Niclas Rosenlew, Chief Financial Officer at Stora Enso. The forest is at the heart of Stora Enso, and we believe that everything made from fossil-based materials today can be made from a tree tomorrow. We are the leading provider of renewable products in packaging, biomaterials, and wooden construction, and one of the largest private forest owners in the world. In 2024, Stora Enso had approximately 19,000 employees, and the Group sales were EUR 9 billion. Stora Enso's shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded in the USA OTC Markets (OTCQX) as ADRs and ordinary shares (SEOAY, SEOFF, SEOJF). STORA ENSO OYJ For more information, please contact:Carl Norell SVP Corporate Communications tel. +46 72 241 0349 Jutta Mikkola SVP Investor Relations tel. +358 50 544 6061 This information was brought to you by Cision The following files are available for download: Jutta Mikkola listimage View original content: Sign in to access your portfolio
Reuters
21-05-2025
- Business
- Reuters
Finland's Stora Enso to sell 12.4% of Swedish forests for about $1 billion
May 21 (Reuters) - Finnish forestry group Stora Enso ( opens new tab said on Wednesday it is divesting 12.4% of its Swedish forest holdings for an enterprise value of 900 million euros ($1.02 billion). The divestiture is anticipated to reduce the group's adjusted EBITDA by about 25 million euros per year and is expected to reduce net debt by 790 million euros, the company said. Stora Enso will retain a 15% ownership interest in the new entity, while Soya Group will own 40.6% and a consortium led by MEAG, the asset manager for Munich Re of Germany, will hold a 44.4% stake. The company and the divested entity will also enter into a 15-year wood supply agreement with a possible additional 15-year extension to secure wood availability for Stora Enso's Swedish business units. Stora Enso reported its divestment plans in October last year in a move to reduce debt and strengthen its balance sheet. The company in April reported that its adjusted earnings before interest and taxes rose to 175 million euros in the first quarter, surpassing analysts' 124.9 million euro forecast in a poll by Vara Research. ($1 = 0.8832 euros)
Yahoo
02-05-2025
- Business
- Yahoo
Stora Enso finalises purchase of Finnish sawmill firm Junnikkala
Stora Enso has completed its acquisition of Junnikkala Oy, a Finnish sawmill company, following an agreement first announced in October 2024. The deal, valued at up to €137 million, strengthens Stora Enso's wood supply chain and increases its sawmilling capacity significantly. The acquired sawmills will now operate as part of Stora Enso's site in Oulu, where a new packaging board machine is currently scaling up production. The integration is designed to improve operational efficiency and ensure a steady supply of raw material for the company's growing packaging business. The acquisition will raise Stora Enso's annual wood procurement in Finland by approximately 1.7 million cubic metres. At the same time, it will expand the group's sawmilling capacity by around 700,000 cubic metres, offering a broader product range within its wood products division. One key aspect of the deal involves Junnikkala's new sawmill in Oulu, which is expected to be a central driver of long-term operational benefits. Once fully running, the facility is forecast to contribute about €15 million in annual cost synergies. While the total enterprise value of the deal is up to €137 million, a portion of the payment depends on the new sawmill achieving certain production targets. This conditional structure ties the final cost of the acquisition to the future performance of the site. Stora Enso has indicated that this setup will help ensure that expected efficiency gains and output targets are met before the full transaction value is realised. The acquisition forms part of Stora Enso's broader strategy to strengthen its position in the wood processing and packaging sectors. With increased production capacity and improved access to raw materials, the company aims to enhance its competitiveness in the growing fibre-based packaging market. "Stora Enso finalises purchase of Finnish sawmill firm Junnikkala" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
01-05-2025
- Business
- Yahoo
Stora Enso expands core packaging material offering with next-gen FBB
Finnish packaging company Stora Enso has introduced Performa Nova, a next-generation folding boxboard (FBB) for consumer packaging. The material is intended for use in a range of consumer packaging sectors, including dry, chilled, and frozen foods, as well as confectionery. The launch follows the activation of a new consumer board production facility in Oulu, Finland. Performa Nova, which extends Stora Enso's packaging materials range, is manufactured using the company's FiberLight Tec technology. This process enables the production of superior yet lightweight board, improving efficiency by reducing the amount of raw material required. The company claims that its new FBB solution delivers high levels of stiffness, compression strength, and a smooth surface finish suitable for detailed, high-quality printing. Designed with food safety in mind, Performa Nova can be combined with protective barrier coatings. It is offered in a variety of grammages, from 200g/m² to 315g/m², allowing flexibility across different packaging uses. This addition to Stora Enso's cartonboard line strengthens its offering of renewable materials. The company continues to focus on supplying adaptable packaging solutions while supporting a move towards circular and sustainable packaging systems. Stora Enso Packaging Materials product development vice-president Tuomas Puonti said: 'At the core of Performa Nova is a breakthrough in how we approach strength and sustainability. 'By leveraging our FiberLight Tec technology, we've been able to develop a product that supports brand owners' and converters' efficiency goals while maintaining the high standards required for protecting packaged products.' Earlier this month, Stora Enso posted €2.36bn ($2.68bn) in first-quarter 2025 sales, up 9.1% year-on-year. "Stora Enso expands core packaging material offering with next-gen FBB" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
28-04-2025
- Business
- Yahoo
Stora Enso reports 9.1% sales increase in Q1 FY25
Stora Enso, a Finnish packaging company, has reported sales of €2.36bn ($2.68bn) in the first quarter (Q1) of fiscal year 2025 (FY25), a 9.1% increase from the same period of the previous fiscal year. In the interim report for the period of January to March 2025, the company attributed this increase primarily to elevated prices and deliveries. The company's adjusted earnings before interest and taxes (EBIT) rose for the fourth consecutive quarter on a year-on-year basis to €175m in Q1 FY25, which is a 17.7% uptick from the €149m posted in the corresponding quarter of the previous year. The adjusted EBIT margin also saw an improvement, climbing to 7.4% in Q1 FY25 compared to 6.9% in Q1 FY24. Higher prices, volumes, and positive impacts from net currency exchange rates and depreciations more than offset higher fibre costs, stated the company. During Q1 FY25, Stora Enso's operating result witnessed an increase of 21.7%, reaching €171m compared to €141m reported in Q1 FY24. The company's pretax result indicates a 40.8% rise to €132m in Q1 FY25 from the €94m in Q1 FY24. The net result for the period grew 40% year-over-year to €107m. The company's basic earnings per share for Q1 FY25 stood at €0.14, up 43.5% from €0.10 reported in the same period of the previous year. Stora Enso president and CEO Hans Sohlström said: 'This improvement primarily resulted from higher prices, alongside increased volumes, favourable foreign exchange rates, and the positive impact of cost-saving and value-creation initiatives, which helped mitigate continued high fibre costs.' Looking ahead, Stora Enso expects its adjusted EBIT for the entirety of FY25 to be adversely affected by around €100m due to the ramping up of its new packaging board line in Oulu, Finland, with a significant portion of this impact anticipated in Q2. For FY25, the group has projected its capital expenditures to be between €730m and €790m. In Q2 FY25, it also anticipates maintenance costs to surpass the first quarter by roughly €20m. Within its Packaging Materials division, Stora Enso predicts a stable containerboard market with ongoing price increments from Q1 to Q2. The demand for consumer board is expected to be seasonally stronger, and output from the company's new consumer packaging board line is set to gradually boost delivery volumes. The Packaging Solutions division, meanwhile, is anticipating heightened demand in Western Europe, driven by the seasonal fruit and vegetable market. Last week, Stora Enso announced plans to reorganise its structure into seven profit and loss accountable business areas, emphasising the significance of its renewable packaging operations. "Stora Enso reports 9.1% sales increase in Q1 FY25" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
