STORA ENSO OYJ INVESTOR NEWS 19 March
2020 at 14:00 EET
HELSINKI, March 19, 2020 /PRNewswire/ -- On 4 December 2019 Stora Enso announced the creation
of a new divisional structure. As of 1
January 2020, the divisions are Packaging Materials,
Packaging Solutions, Biomaterials, Wood Products, Forest, and
Paper.
Stora Enso merged its containerboard business with the Consumer
Board division, creating a new Packaging Materials division. The
remaining business in Packaging Solutions, together with the
recently created Formed Fiber unit, constitute a more focused
Packaging Solutions division.
As announced on 18 September 2019,
Stora Enso established a Forest division and started reporting it
separately as of 1 January 2020. The
new Forest division includes Stora Enso's Swedish forest assets
(including the recently acquired Bergvik Skog Väst AB) and a 41%
share of Tornator with the majority of its forest assets located in
Finland. The Forest division also
includes wood supply operations in Finland, Sweden, Russia and the Baltic countries. Tree
plantations in Latin America and
China, linked to local pulp mills,
continue to be reported as before under the Biomaterials and
Packaging Materials divisions. After establishing the new Forest
division, remaining segment Other reporting includes Group
functions, logistics and other operations.
Strategic financial targets
Stora Enso has updated the strategic financial targets according
to the new divisional structure. The targets according to the new
divisional structure as of 1 January
2020 as well as according to the divisional structure as of
31 December 2019 are presented in the
tables below.
Division
|
KPI
|
TargetAs of 1
January 2020
|
Target as of 31
December 2019
|
Packaging
Materials
|
ROOC
|
>20%
|
-
|
Consumer
Board
|
ROOC
|
-
|
>20%
|
Packaging
Solutions
|
ROOC
|
>30%
|
>20%
|
Biomaterials
|
ROOC
|
>15%
|
>15%
|
Wood
Products
|
ROOC
|
>20%
|
>20%
|
Forest
|
ROOC
|
>5%
|
-
|
Paper
|
Cash flow after
investing activities to sales
|
>7%
|
>7%
|
GROUP
|
ROCE
|
>13%
|
>13%
|
ROOC: Operational return on operating capital
ROCE: Operational return on capital employed
Forest division segment reporting
Growth in the value of forest represents an important component
of the annual operative return for long-term rotation forest
assets, where typical annual wood sales and related costs do not
reflect the total profitability of the forest assets. The long-term
value development of standing forests is an important driver for
profitability of the forestry business.
Under previous presentation principles, all changes in fair
valuation of biological assets were excluded from Operational EBIT,
with the exception of depletion of capitalised silviculture costs
for tree plantations in Latin
America and China. From
1 January 2020 onwards, the changes
in the fair valuation of biological assets will be categorised in
two components:
1. non-operational fair value changes, and
2. operational fair value changes.
Non-operational fair value changes of biological assets reflect
the changes made to valuation assumptions and parameters.
Operational fair value changes of biological assets contain all
other fair value changes, mainly due to inflation and differences
in actual harvesting levels compared to the harvesting plan.
Operational fair value changes will be reported in Operational
EBITDA, whereas non-operational fair value changes will be excluded
from Operational EBITDA.
In conjunction with the new segment reporting, Stora Enso will
reclassify the silviculture costs of the new Forest division from
Operational EBITDA to Operational EBIT. Silviculture costs mainly
relate to replanting and the tending and fertilisation of trees. As
per previous presentation principles, the depletion of capitalised
silviculture costs in tree plantations in Latin America and China are already included in Operational
EBIT, so this change aligns the presentation of Nordic forests with
plantations in Latin America and
China.
All of the above-mentioned changes are related to the non-IFRS
alternative performance measures. Operating profit (IFRS) remains
unchanged, with both operational and non-operational fair valuation
changes to be included on the line change in the net value of
biological assets.
The cash outflows regarding the silviculture costs of the
Group's Swedish forests will be presented in the cash flow
statement as part of the investing activities instead of as
operating cash flows under the previous presentation
principles.
Restated figures
The restated figures for the Group, Packaging Materials,
Packaging Solutions and Forest division are presented
below.
As published: Sales
EUR
million
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
Consumer
Board
|
2 563
|
614
|
640
|
675
|
634
|
2 622
|
Packaging
Solutions
|
1 247
|
293
|
299
|
316
|
338
|
1 344
|
Biomaterials
|
1 464
|
341
|
331
|
394
|
398
|
1 635
|
Wood
Products
|
1 569
|
374
|
380
|
412
|
403
|
1 622
|
Paper
|
2 856
|
694
|
690
|
712
|
760
|
3 066
|
Other
|
3 396
|
819
|
786
|
868
|
922
|
3 425
|
Inter-segment
sales
|
-3 040
|
-724
|
-725
|
-770
|
-821
|
-3 229
|
Total
|
10
055
|
2
411
|
2
402
|
2
608
|
2
635
|
10
486
|
Restated: Sales
EUR
million
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
Packaging
Materials
|
3 193
|
755
|
791
|
833
|
814
|
3 350
|
Packaging
Solutions
|
703
|
171
|
168
|
182
|
182
|
707
|
Biomaterials
|
1 464
|
341
|
331
|
394
|
398
|
1 635
|
Wood
Products
|
1 569
|
374
|
380
|
412
|
403
|
1 622
|
Forest
|
2 321
|
558
|
518
|
603
|
642
|
2 285
|
Paper
|
2 856
|
694
|
690
|
712
|
760
|
3 066
|
Other
|
1 076
|
262
|
268
|
265
|
280
|
1,141
|
Inter-segment
sales
|
-3 127
|
-743
|
-746
|
-793
|
-845
|
-3 321
|
Total
|
10
055
|
2
411
|
2
402
|
2
608
|
2
635
|
10
486
|
Packaging Materials: Sales
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
Consumer
Board
|
2 564
|
614
|
640
|
676
|
634
|
2 624
|
Containerboard
|
630
|
141
|
151
|
157
|
180
|
727
|
As published: Operational EBITDA
EUR
million
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
Consumer
Board
|
433
|
95
|
119
|
118
|
101
|
423
|
Packaging
Solutions
|
212
|
36
|
48
|
58
|
70
|
313
|
Biomaterials
|
356
|
21
|
67
|
133
|
135
|
550
|
Wood
Products
|
153
|
26
|
39
|
47
|
40
|
199
|
Paper
|
318
|
71
|
76
|
76
|
95
|
345
|
Other
|
70
|
11
|
26
|
3
|
30
|
48
|
Total
|
1
542
|
259
|
376
|
435
|
471
|
1
878
|
Restated: Operational EBITDA
EUR
million
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
Packaging
Materials
|
574
|
115
|
146
|
156
|
157
|
684
|
Packaging
Solutions
|
71
|
16
|
21
|
20
|
14
|
52
|
Biomaterials
|
356
|
21
|
67
|
133
|
135
|
550
|
Wood
Products
|
153
|
26
|
39
|
47
|
40
|
199
|
Forest
|
145
|
43
|
37
|
25
|
39
|
122
|
Paper
|
318
|
71
|
76
|
76
|
95
|
345
|
Other
|
-4
|
-14
|
10
|
-3
|
3
|
-26
|
Total
|
1
614
|
277
|
397
|
455
|
484
|
1
925
|
|
|
|
|
|
|
|
Total
change
|
71
|
18
|
21
|
20
|
13
|
48
|
Packaging Materials: Operational EBITDA
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
Consumer
Board
|
434
|
96
|
120
|
118
|
101
|
424
|
Containerboard
|
139
|
19
|
27
|
38
|
56
|
260
|
As published: Operational EBITDA margin %
EUR
million
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
Consumer
Board
|
16.9%
|
15.6%
|
18.6%
|
17.5%
|
15.9%
|
16.1%
|
Packaging
Solutions
|
17.0%
|
12.2%
|
16.0%
|
18.4%
|
20.7%
|
23.3%
|
Biomaterials
|
24.3%
|
6.1%
|
20.3%
|
33.7%
|
33.9%
|
33.6%
|
Wood
Products
|
9.8%
|
7.0%
|
10.3%
|
11.5%
|
10.0%
|
12.3%
|
Paper
|
11.1%
|
10.2%
|
11.0%
|
10.7%
|
12.5%
|
11.3%
|
Other
|
2.1%
|
1.3%
|
3.3%
|
0.3%
|
3.3%
|
1.4%
|
Total
|
15.3%
|
10.8%
|
15.7%
|
16.7%
|
17.9%
|
17.9%
|
Restated: Operational EBITDA margin %
EUR
million
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
Packaging
Materials
|
18.0%
|
15.2%
|
18.5%
|
18.7%
|
19.3%
|
20.4%
|
Packaging
Solutions
|
10.2%
|
9.6%
|
12.6%
|
11.0%
|
7.6%
|
7.4%
|
Biomaterials
|
24.3%
|
6.1%
|
20.3%
|
33.7%
|
33.9%
|
33.6%
|
Wood
Products
|
9.8%
|
7.0%
|
10.3%
|
11.5%
|
10.0%
|
12.3%
|
Forest
|
6.2%
|
7.7%
|
7.2%
|
4.2%
|
6.1%
|
5.3%
|
Paper
|
11.1%
|
10.2%
|
11.0%
|
10.7%
|
12.5%
|
11.3%
|
Other
|
-0.3%
|
-5.5%
|
3.9%
|
-1.1%
|
1.2%
|
-2.3%
|
Total
|
16.0%
|
11.5%
|
16.5%
|
17.5%
|
18.4%
|
18.4%
|
|
|
|
|
|
|
|
Total
change
|
0.7%
|
0.7%
|
0.9%
|
0.8%
|
0.5%
|
0.5%
|
Packaging Materials: Operational EBITDA margin
%
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
Consumer
Board
|
16.9%
|
15.6%
|
18.7%
|
17.5%
|
15.9%
|
16.1%
|
Containerboard
|
22.1%
|
13.5%
|
17.6%
|
24.0%
|
31.0%
|
35.7%
|
As published: Operational EBIT
EUR
million
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
Consumer
Board
|
250
|
51
|
73
|
72
|
54
|
231
|
Packaging
Solutions
|
135
|
16
|
29
|
39
|
51
|
245
|
Biomaterials
|
233
|
-12
|
39
|
103
|
103
|
427
|
Wood
Products
|
105
|
14
|
27
|
35
|
29
|
165
|
Paper
|
213
|
44
|
50
|
50
|
69
|
234
|
Other
|
17
|
0
|
13
|
-12
|
17
|
23
|
Total
|
953
|
112
|
231
|
287
|
324
|
1
325
|
Restated: Operational EBIT
EUR
million
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
Packaging
Materials
|
339
|
57
|
86
|
98
|
98
|
444
|
Packaging
Solutions
|
46
|
10
|
15
|
14
|
8
|
32
|
Biomaterials
|
233
|
-12
|
39
|
103
|
103
|
427
|
Wood
Products
|
105
|
14
|
27
|
35
|
29
|
165
|
Forest
|
99
|
31
|
25
|
11
|
33
|
88
|
Paper
|
213
|
44
|
50
|
50
|
69
|
234
|
Other
|
-32
|
-19
|
2
|
-11
|
-4
|
-38
|
Total
|
1
003
|
124
|
245
|
299
|
335
|
1
352
|
|
|
|
|
|
|
|
Total
change
|
50
|
12
|
14
|
12
|
11
|
27
|
As published: Operational EBIT margin %
EUR
million
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
Consumer
Board
|
9.7%
|
8.3%
|
11.3%
|
10.7%
|
8.6%
|
8.8%
|
Packaging
Solutions
|
10.8%
|
5.5%
|
9.6%
|
12.3%
|
15.1%
|
18.2%
|
Biomaterials
|
15.9%
|
-3.5%
|
11.7%
|
26.1%
|
25.8%
|
26.1%
|
Wood
Products
|
6.7%
|
3.6%
|
7.2%
|
8.6%
|
7.2%
|
10.2%
|
Paper
|
7.4%
|
6.3%
|
7.3%
|
7.0%
|
9.1%
|
7.6%
|
Other
|
0.5%
|
-0.1%
|
1.7%
|
-1.4%
|
1.9%
|
0.7%
|
Total
|
9.5%
|
4.6%
|
9.6%
|
11.0%
|
12.3%
|
12.6%
|
Restated: Operational EBIT margin %
EUR
million
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
Packaging
Materials
|
10.6%
|
7.5%
|
10.9%
|
11.7%
|
12.0%
|
13.3%
|
Packaging
Solutions
|
6.6%
|
5.9%
|
8.9%
|
7.5%
|
4.1%
|
4.5%
|
Biomaterials
|
15.9%
|
-3.5%
|
11.7%
|
26.1%
|
25.8%
|
26.1%
|
Wood
Products
|
6.7%
|
3.6%
|
7.2%
|
8.6%
|
7.2%
|
10.2%
|
Forest
|
4.3%
|
5.6%
|
4.8%
|
1.7%
|
5.1%
|
3.9%
|
Paper
|
7.4%
|
6.3%
|
7.3%
|
7.0%
|
9.1%
|
7.6%
|
Other
|
-3.0%
|
-7.4%
|
0.9%
|
-4.1%
|
-1.5%
|
-3.3%
|
Total
|
10.0%
|
5.1%
|
10.2%
|
11.5%
|
12.7%
|
12.9%
|
|
|
|
|
|
|
|
Total
change
|
0.5%
|
0.5%
|
0.6%
|
0.5%
|
0.4%
|
0.3%
|
As published: Operating capital
EUR
million
|
31 Dec
2019
|
30 Sep
2019
|
30 Jun
2019
|
31 Mar
2019
|
31 Dec
2018
|
Consumer
Board
|
2 100
|
2 166
|
2 244
|
2 287
|
1 951
|
Packaging
Solutions
|
962
|
945
|
961
|
954
|
923
|
Biomaterials
|
2 496
|
2 631
|
2 638
|
2 633
|
2 462
|
Wood
Products
|
647
|
679
|
701
|
699
|
621
|
Paper
|
657
|
764
|
835
|
839
|
796
|
Other
|
4 601
|
4 119
|
4 027
|
2 340
|
2 204
|
Total
|
11
462
|
11
303
|
11
406
|
9
752
|
8
955
|
Restated: Operating capital
EUR
million
|
31 Dec
2019
|
30 Sep
2019
|
30 Jun
2019
|
31 Mar
2019
|
31 Dec
2018
|
Packaging
Materials
|
2 824
|
2 861
|
2 938
|
2 976
|
2 627
|
Packaging
Solutions
|
241
|
251
|
267
|
265
|
246
|
Biomaterials
|
2 496
|
2 631
|
2 638
|
2 633
|
2 462
|
Wood
Products
|
647
|
679
|
701
|
699
|
621
|
Forest
|
4 138
|
3 641
|
3 722
|
2 009
|
1 940
|
Paper
|
657
|
764
|
835
|
839
|
796
|
Other
|
460
|
477
|
305
|
330
|
264
|
Total
|
11
462
|
11
303
|
11
406
|
9
752
|
8
955
|
As published: Return on operating capital (ROOC)
EUR
million
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
Consumer
Board
|
12.3%
|
9.5%
|
13.2%
|
12.8%
|
10.3%
|
11.9%
|
Packaging
Solutions
|
14.4%
|
6.8%
|
12.1%
|
16.3%
|
21.8%
|
27.2%
|
Biomaterials
|
9.4%
|
-1.9%
|
5.9%
|
15.6%
|
16.2%
|
17.9%
|
Wood
Products
|
16.6%
|
8.2%
|
15.8%
|
20.3%
|
17.7%
|
28.1%
|
Paper
|
29.3%
|
24.7%
|
25.1%
|
23.8%
|
33.7%
|
30.2%
|
Restated: ROOC
EUR
million
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
Packaging
Materials
|
12.4%
|
8.0%
|
11.9%
|
13.2%
|
14.0%
|
16.9%
|
Packaging
Solutions
|
18.9%
|
16.4%
|
23.1%
|
20.5%
|
11.8%
|
14.6%
|
Biomaterials
|
9.4%
|
-1.9%
|
5.9%
|
15.6%
|
16.2%
|
17.9%
|
Wood
Products
|
16.6%
|
8.2%
|
15.8%
|
20.3%
|
17.7%
|
28.1%
|
Forest
|
3.3%
|
3.2%
|
2.7%
|
1.5%
|
6.6%
|
4.7%
|
Paper
|
29.3%
|
24.7%
|
25.1%
|
23.8%
|
33.7%
|
30.2%
|
Group Return on capital employed (ROCE)
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
ROCE as
published
|
9.8%
|
4.2%
|
8.7%
|
11.3%
|
14.0%
|
15.5%
|
ROCE
restated
|
10.3%
|
4.7%
|
9.2%
|
11.8%
|
14.5%
|
15.8%
|
Total
change
|
0.5%
|
0.5%
|
0.5%
|
0.5%
|
0.5%
|
0.3%
|
|
|
|
|
|
|
|
ROCE excluding
Forest division restated
|
12.8%
|
5.0%
|
11.7%
|
15.2%
|
16.7%
|
18.9%
|
Net debt / operational EBITDA
|
31 Dec
2019
|
30 Sep
2019
|
30 Jun
2019
|
31 Mar
2019
|
31 Dec
2018
|
Net debt /
operational EBITDA as published
|
2.1
|
2.2
|
2.2
|
1.7
|
1.1
|
Net debt /
operational EBITDA restated
|
2.0
|
2.1
|
2.1
|
1.6
|
1.1
|
Total
change
|
-0.1
|
-0.1
|
-0.1
|
0.0
|
0.0
|
As published: Reconciliation of operational
profitability
EUR
million
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
Operational
EBITDA
|
1
542
|
259
|
376
|
435
|
471
|
1
878
|
Depreciation and
depletion of equity accounted investments (EAI)
|
-6
|
-1
|
-1
|
-2
|
-2
|
-7
|
Operational decrease
in the value of biological assets
|
-51
|
-11
|
-14
|
-13
|
-13
|
-66
|
Depreciation and
impairment excl. IAC
|
-533
|
-136
|
-130
|
-134
|
-133
|
-479
|
Operational
EBIT
|
953
|
112
|
231
|
287
|
324
|
1
325
|
Fair valuations and
non-operational items1
|
544
|
600
|
-25
|
-25
|
-7
|
45
|
Items affecting
comparability (IAC)
|
-192
|
-32
|
-36
|
-120
|
-4
|
20
|
Operating profit
(IFRS)
|
1
305
|
680
|
170
|
142
|
313
|
1
390
|
1 Fair valuations and non-operational items
include CO₂ emission rights, valuations of biological assets
and the Group's share of income tax and net financial items of
EAI.
Restated: Reconciliation of operational profitability
EUR
million
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
Operational
EBITDA1
|
1
614
|
277
|
397
|
455
|
484
|
1
925
|
Depreciation and
depletion of equity accounted investments (EAI)
|
-16
|
-2
|
-3
|
-7
|
-3
|
-28
|
Silviculture
costs2
|
-62
|
-15
|
-19
|
-15
|
-13
|
-66
|
Depreciation and
impairment excl. IAC
|
-533
|
-136
|
-130
|
-134
|
-133
|
-479
|
Operational
EBIT
|
1
003
|
124
|
245
|
299
|
335
|
1
352
|
Fair valuations and
non-operational items3
|
494
|
588
|
-39
|
-37
|
-18
|
18
|
Items affecting
comparability (IAC)
|
-192
|
-32
|
-36
|
-120
|
-4
|
20
|
Operating profit
(IFRS)
|
1
305
|
680
|
170
|
142
|
313
|
1
390
|
1 Restated Operational EBITDA includes
operational fair value changes of biological assets of EUR 50 million for 2019 and EUR 27 million for 2018. In addition, the Nordic
forests silviculture costs of EUR 21
million for 2019 and EUR 20
million for 2018 have been presented under Operational
EBITDA.
2 Including damage to forests
3 Fair valuations and non-operational items
include CO₂ emission rights, non-operational fair value
changes of biological assets and the Group's share of income
tax and net financial items of EAI. Non-operational fair value
changes of biological assets reflect changes made to valuation
assumptions and parameters, usually during the annual valuation
process. Operational fair value changes of biological assets are
included in Operational EBITDA and contain all other fair value
changes, mainly due to inflation and differences in actual
harvesting levels compared to the harvesting plan.
Reconciliation of operational profitability: Change
EUR
million
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
Operational
EBITDA
|
71
|
18
|
21
|
20
|
13
|
48
|
Depreciation and
depletion of equity accounted investments (EAI)
|
-10
|
-1
|
-2
|
-5
|
-1
|
-20
|
Silviculture
costs
|
-11
|
-4
|
-5
|
-2
|
0
|
0
|
Depreciation and
impairment excl. IAC
|
0
|
0
|
0
|
0
|
0
|
0
|
Operational
EBIT
|
50
|
12
|
14
|
12
|
11
|
27
|
Fair valuations and
non-operational items
|
-50
|
-12
|
-14
|
-12
|
-11
|
-27
|
Items affecting
comparability (IAC)
|
0
|
0
|
0
|
0
|
0
|
0
|
Operating profit
(IFRS)
|
0
|
0
|
0
|
0
|
0
|
0
|
As published: Cash Flow from Operations
EUR
million
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
Consumer
Board
|
476
|
145
|
163
|
113
|
56
|
339
|
Packaging
Solutions
|
248
|
55
|
69
|
65
|
60
|
272
|
Biomaterials
|
423
|
66
|
114
|
138
|
105
|
438
|
Wood
Products
|
183
|
57
|
57
|
51
|
19
|
147
|
Paper
|
344
|
97
|
118
|
70
|
59
|
222
|
Other
|
305
|
302
|
-34
|
112
|
-76
|
-52
|
Total
|
1
980
|
721
|
488
|
548
|
223
|
1
365
|
Restated: Cash Flow from Operations
EUR
million
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
Packaging
Materials
|
632
|
175
|
189
|
167
|
101
|
580
|
Packaging
Solutions
|
93
|
26
|
43
|
10
|
14
|
30
|
Biomaterials
|
423
|
66
|
114
|
138
|
105
|
438
|
Wood
Products
|
183
|
57
|
57
|
51
|
19
|
147
|
Forest
|
370
|
273
|
47
|
112
|
-61
|
-34
|
Paper
|
344
|
97
|
118
|
70
|
59
|
222
|
Other
|
-55
|
32
|
-76
|
3
|
-14
|
-18
|
Total
|
1
991
|
725
|
493
|
550
|
223
|
1
365
|
|
|
|
|
|
|
|
Total
change
|
11
|
4
|
5
|
2
|
0
|
0
|
As published: Cash Flow after Investing
Activities
EUR
million
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
Consumer
Board
|
328
|
98
|
135
|
84
|
11
|
177
|
Packaging
Solutions
|
135
|
8
|
26
|
53
|
48
|
172
|
Biomaterials
|
266
|
11
|
82
|
104
|
69
|
327
|
Wood
Products
|
135
|
42
|
47
|
38
|
8
|
80
|
Paper
|
264
|
72
|
99
|
47
|
46
|
175
|
Other
|
258
|
287
|
-41
|
102
|
-89
|
-119
|
Total
|
1
386
|
518
|
347
|
428
|
94
|
811
|
Restated: Cash Flow after Investing Activities
EUR
million
|
2019
|
Q4/19
|
Q3/19
|
Q2/19
|
Q1/19
|
2018
|
Packaging
Materials
|
401
|
87
|
133
|
132
|
50
|
351
|
Packaging
Solutions
|
58
|
16
|
27
|
5
|
10
|
-1
|
Biomaterials
|
266
|
11
|
82
|
104
|
69
|
327
|
Wood
Products
|
135
|
42
|
47
|
38
|
8
|
80
|
Forest
|
333
|
258
|
37
|
104
|
-66
|
-55
|
Paper
|
264
|
72
|
99
|
47
|
46
|
175
|
Other
|
-71
|
32
|
-78
|
-2
|
-23
|
-64
|
Total
|
1
386
|
518
|
347
|
428
|
93
|
811
|
For further information, please contact:
Ulrika Lilja
EVP, Communications
tel. +46-72-221-9228
Investor enquiries:
Ulla
Paajanen
SVP, Investor Relations
tel. +358-40-763-8767
Part of the bioeconomy, Stora Enso is a leading global provider
of renewable solutions in packaging, biomaterials, wooden
constructions and paper. We believe that everything that is made
from fossil-based materials today can be made from a tree tomorrow.
Stora Enso has some 26 000 employees in over 30 countries. Our
sales in 2019 were EUR 10.1 billion.
Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and
Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded
in the USA as ADRs (SEOAY).
storaenso.com
STORA ENSO OYJ
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/stora-enso-oyj/r/stora-enso-s-strategic-financial-targets-and-historical-figures-according-to-the-new-divisional-stru,c3063830
The following files are available for download:
https://mb.cision.com/Public/13589/3063830/a47b4d52ca1278fb.pdf
|
0319 E Historical
figures
|