Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Stora Enso Oyj Interim Report January-March 2019


News provided by

Stora Enso Oyj

25 Apr, 2019, 07:13 GMT

Share this article

Share toX

Share this article

Share toX

A promising start of the year, supported by the profit protection programme

HELSINKI, April 25, 2019 /PRNewswire/ -- Q1/2019 (compared with Q1/2018)

  • Sales increased 2.2% to EUR 2 635 (2 579) million, the highest first quarter since 2013 and the ninth consecutive quarter of growth.
  • Operational EBIT decreased to EUR 324 (369) million which was in the upper end of our guidance range of EUR 260–350 million.
  • The operational EBIT margin was 12.3% (14.3%), above 10% for the seventh consecutive quarter.
  • Operating profit (IFRS) was EUR 313 (355) million.
  • EPS decreased by 16.0% to EUR 0.29 (0.35) and EPS excl. IAC was EUR 0.30 (0.35).
  • Cash flow from operations decreased slightly to EUR 223 (229) million. Cash flow after investing activities amounted to EUR 94 (113) million.
  • The net debt to operational EBITDA ratio increased to 1.7 (1.3), due to the adoption of IFRS 16 Leases (impact 0.3) and dividend payment.
  • Operational ROCE was 14.0% (17.7%), above the strategic target of 13%.

Outlook for 2019
Stora Enso's year 2019 is expected to be largely in line with 2018, provided that the current trading conditions do not significantly change. Demand growth is expected to continue for Stora Enso's other businesses except for European Paper, for which demand is forecast to continue to decline in 2019. Group's sales are expected to be higher and costs are forecast to increase in 2019 compared to 2018. Stora Enso will implement measures to mitigate these cost increases and the increased uncertainties with the profit protection programme. 

Guidance for Q2/2019
Q2/2019 operational EBIT is expected to be in the range of EUR 270–350 million. During the second quarter, there will be annual maintenance shutdown at the Nymölla paper mill. The total negative impact of maintenance is estimated to be EUR 35 million less compared to Q2/2018.

Key figures

EUR million

Q1/19

 

Q1/18

 

Change % Q1/19-Q1/18

 

Q4/18

 

Change % Q1/19-Q4/18

 

2018

Sales

 

2 635

 

2 579

 

2.2%

 

2 657

 

-0.9%

 

10 486

 

Operational EBITDA

 

471

 

504

 

-6.5%

 

405

 

16.3%

 

1 878

 

Operational EBIT

 

324

 

369

 

-12.3%

 

271

 

19.5%

1 325

 

Operational EBIT margin

 

12.3%

 

14.3%


 

10.2%


 

12.6%

 

Operating profit (IFRS)

 

313

 

355

 

-11.9%

 

356

 

-12.1%

 

1 390

 

Profit before tax excl. IAC

 

286

 

333

 

-14.2%

 

267

 

6.9%

 

1 190

 

Profit before tax (IFRS)

 

282

 

333

 

-15.4%

 

315

 

-10.5%

 

1 210

 

Net profit for the period (IFRS)

 

226

 

273

 

-17.4%

 

299

 

-24.4%

 

988

 

Net interest-bearing liabilities

 

3 093

 

2 226

 

38.9%

 

2 092

 

47.8%

 

2 092

 

Operational ROCE

 

14.0%

 

17.7%


 

12.4%


 

15.5%

 

Earnings per share (EPS) excl. IAC, EUR

 

0.30

 

0.35

 

-14.9%

 

0.33

 

-8.3%

 

1.29

 

EPS (basic), EUR

 

0.29

 

0.35

 

-16.0%

 

0.39

 

-23.6%

 

1.28

 

Net debt/last 12 months' operational EBITDA ratio

 

1.7

 

1.3


 

1.1


 

1.1

 

Average number of employees

 

26 036

 

25 442

 

2.3%

 

26 151

 

-0.4%

 

26 067

Stora Enso's CEO Karl-Henrik Sundström comments on the first quarter 2019 results:

"We have had a promising start of the year and I am pleased to see that the profit protection programme is already supporting our development. Given the potential market weakness, we are convinced that the timing for activating the programme is right. During the first quarter of 2019, we focused on the balance between value creation and profit protection. It has obviously paid off. Sales continue to grow and profitability is on a good level. The sales increase of roughly 2% was primarily due to higher prices in all divisions and improved product mix, despite lower volumes. Operational EBIT decreased, while keeping a double-digit operational margin for the seventh consecutive quarter. Operational ROCE remains above our strategic target of 13%, despite additional capital of nearly EUR 300 million due to the implementation of IFRS 16.

Looking at our divisions, we had first quarter records in four out of five: Packaging Solutions and Biomaterials had record sales, while Wood Products and Paper delivered record profitability. Moreover, it is satisfying that our price increases are coming through gradually in Consumer Board.

We continue to drive our transformation projects forward and take active steps to contribute to a renewable future. Our recent investment in Hylte will enable manufacturing of formed fiber products that are designed for circularity. These products are renewable, recyclable, biodegradable and do not contain any plastic. Also, the first commercial volumes were produced during the quarter from our new cross laminated timber (CLT) investment at Gruvön. Wooden elements store carbon dioxide and substitute fossil based building materials, making them suitable for the development of green and sustainable cities.

On the note of sustainability, I am pleased that we have successfully issued our first Green Bonds to finance our ongoing transaction in Bergvik Skog. The aim is to complete the transaction during the second quarter of 2019. We have also completed our feasibility study of the potential conversion of the Oulu paper mill into packaging board production. The decision on the potential conversion is planned to be made by the Board of Directors during the first half of 2019 after the co-determination process has been completed.

I find it is important to support initiatives that can help to drive economics and society towards a plastic free future and we have joined the New Plastics Economy Global Commitment to eliminate plastic waste and pollution. This is led by the Ellen MacArthur Foundation, in collaboration with UN Environment. We contribute with our customers and suppliers by developing circular and low carbon solutions to replace plastic.

All in all, we have made good progress in increasing our share of the bioeconomy!

I am very proud that Stora Enso received the highest score in a recent diversity report in Finland. We believe diversity strengthens innovation and drives competitiveness, and we aim to reflect the societies in which we operate.

As always, I would like to thank our customers for their business, our employees for their dedication, and our investors for their trust."


Events today

1) Press conference in Helsinki at 11.00 EEST
The webcast and press conference for media will take place at 11.00 EEST (10.00 CEST, 09.00 UK time, 04.00 EDT) at Stora Enso's Head Office, Kanavaranta 1, Helsinki. The event will be held in English and it will be hosted by CEO Karl-Henrik Sundström, CFO Seppo Parvi, and EVP, Communications Ulrika Lilja. The webcast may be accessed at https://storaenso.videosync.fi/2019-q1 

2) Webcast and conference call for analysts and investors at 15.00 EEST
The webcast and conference call for analysts and investors will take place at 15.00 EEST (14.00 CEST, 13.00 UK time, 08.00 EDT). It will be hosted by CEO Karl-Henrik Sundström, CFO Seppo Parvi, and SVP, Head of Investor Relations Ulla Paajanen, and may be accessed at https://edge.media-server.com/m6/p/h9z3yw5c.

Those analysts and investors who wish to ask questions should join the conference call (details below). All participants can follow the presentation over the webcast.

Live event at 15.00 EEST
UK                                      +44 (0)2071-928-000
Finland                                +358 (0)9-4245-0806
Sweden                               +46 (0)8-5069-2180
USA                                    +1-631-510-7495
Confirmation code:                7742658

The links to the webcasts are also available on the Stora Enso website: storaenso.com/investors.

This release is a summary of Stora Enso's Interim Report January–March 2019. The complete report is attached to this release as a pdf file. It is also available on the company website at storaenso.com/investors. 

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 2018 were EUR 10.5 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 

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

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/stora-enso-oyj/r/stora-enso-oyj-interim-report-january-march-2019,c2796252

The following files are available for download:

https://mb.cision.com/Public/13589/2796252/ac7fc47a00ab3365.pdf

STORAENSO RESULTS Q119 ENG

Modal title

Also from this source

Stora Enso initiates a strategic review of its Swedish forest assets (Inside information)

As part of its stronger focus on renewable packaging, Stora Enso is initiating a strategic review of its Swedish forest assets. The review includes...

Stora Enso appoints Jutta Mikkola as Senior Vice President, Investor Relations

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...

More Releases From This Source

Explore

Office Products

Office Products

Household, Consumer & Cosmetics

Household, Consumer & Cosmetics

Retail

Retail

Paper, Forest Products & Containers

Paper, Forest Products & Containers

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.