Displaying items by tag: Stora Enso

Stora Enso has appointed Annette Stube as EVP, Head of Sustainability and a member of the Group Leadership Team. She will start on 1 September 2020.

Annette Stube is a Danish citizen who joins from a position as Head of Sustainability in A.P. Moller–Maersk, an integrated transport and logistics company. Previously she has worked as Director of Sustainability programmes in the global healthcare company Novo Nordisk. She has a master’s degree in psychology and an Executive Board Education from Copenhagen Business School. She is also a member of the Board of Directors of the Finnish energy company Fortum.

Annette StubeAnnette StubeAnnette Stube succeeds Stora Enso’s current Head of Sustainability Noel Morrin who retires in the end of year 2020. Noel Morrin joined Stora Enso in 2015.

“I would like to extend my warmest thanks to Noel for his valuable and committed work for Stora Enso. He has played an essential role in setting an ambitious sustainability agenda for Stora Enso and taking the Group’s sustainability reporting to a high level. We have set ambitious targets to reduce our greenhouse gas emissions and seen good progress in that during the past years,” says Stora Enso’s President and CEO Annica Bresky.

“I am happy to welcome Annette Stube to our leadership team. Her experience in pioneering and leading sustainability work in global organizations is very valuable and will support us in our continued transformation as “The renewable materials company”. Her background in developing sustainability-based business opportunities and innovations will also strengthen us,” Annica Bresky continues.

“I am happy to join Stora Enso, a true sustainability front-runner. Stora Enso is uniquely positioned as a solution provider in a low-carbon, circular bioeconomy with renewable raw materials, having sustainability at the core of its strategy. Standing on solid sustainability governance and high-quality reporting, Stora Enso is ready to take the next step,” Annette Stube says.

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 25 000 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

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We continue to experience unprecedented times with the Covid-19 pandemic, which is affecting global health and creating uncertainty and volatility in the business environment. Stora Enso Investors Relations has received inquiries from investors and analysts related to the Covid-19 and its impacts on our business operations. Please find below some typical questions and answers.

Q: What precautions have you taken against Covid-19?


A: The health and safety of Stora Enso’s employees is a key priority. Stora Enso has secured the health and safety of its employees by various measures and closely monitoring the Covid-19 situation.

stora new 2017Thanks to Stora Enso's proactive approach thus far, there has been minimal impact on the Group's ability to serve customers and run operations. Stora Enso plays an important role in the society by providing vital materials for the food, hygiene and medical industries.

Q: How has Covid-19 impacted your Q2/2020 performance?

A: Group sales decreased by 19% in Q2/2020 from the previous year, negatively impacted by the Covid-19 pandemic. Sales prices were lower for most grades despite active mix management and a slightly positive foreign exchange rate impact. Volumes were also clearly lower in all other divisions except Packaging Materials, because the Covid-19 pandemic reduced demand, accelerated structural decline of paper demand and created uncertainty.

In Q2/2020, Stora Enso delivered an operational EBIT of EUR 178 million, about the same as in the first quarter this year (EUR 180 million). Operational EBIT excluding Paper was EUR 216 million, much stronger than during the first quarter (EUR 159 million). Cash flow from operations was EUR 363 million. We consider the second quarter result good in the current circumstances. This was driven by strong performance in the Packaging Materials and Forest divisions, and Wood Products division delivering a better result than expected. The pandemic's biggest effect on our business has been in the Paper division, accelerating the structural decline in all paper grades. Excluding Paper, our operational EBIT margin stayed at 13% in Q2/2020, showing the resilience of our growth businesses.

Q: How has Covid-19 impacted your sales prices?

A: In the following, we have compared prices in Q2/2020 compared to Q1/2020.

In consumer board business, majority of our customer contracts are annual or longer validity, and the prices remained stable in Q2/2020. In containerboard and wood products businesses, price level increased slightly in Q2/2020. For market pulp, prices remained flat during the quarter. Corrugated packaging prices were slightly lower level in Q2/2020. Due to Covid-19 pandemic and overcapacity in Europe, paper prices decreased slightly in Q2/2020 compared to previous quarter.

Q: Have your units and mills been operating normally?

A: All our units and mills operated normally in the second quarter 2020. However, due to Covid-19 pandemic, production was curtailed during the quarter.

Q: How has Covid-19 impacted your annual maintenance shutdowns?

A: Due to the cross-border travel restrictions and safety concerns associated with Covid-19, most of Stora Enso’s annual mill maintenance shutdowns were postponed from the first half until the second half of 2020. The upcoming maintenance shutdowns are well prepared to ensure the health and safety of the Group's employees, contractors and communities in which it operates.

In Q2/2020, Stora Enso had 14 days annual maintenance shutdown at Heinola fluting mill in Finland. In Q3/2020, maintenance works will be performed at Beihai, Imatra and Varkaus mills (Packaging Materials), Sunila and Veracell mills (Biomaterials) and Veitsiluoto (Paper). In Q3/2020, the total negative impact of maintenance is estimated to be EUR 45 million more compared to Q1/2020 and similar to Q3/2019.

Q: What have been the impacts on your supply chain and deliveries?

A: Covid-19 has had only minor impacts on our supply chain operations. Our supply chain crisis management process, now solidly in place for almost two quarters, ensure swift and agile response to potential disruptions. Availability of containers improved in Q2/2020 compared to the previous quarter and our customer orders were fulfilled even if some increased delivery times could be noted.

Q: What has been the Covid-19 impact on harvesting?

A: In Finland, wood deliveries were clearly lower due to lower production volumes related to Covid-19.
We have decreased our harvesting volumes in order to adjust our operations to prevailing market conditions. Share of harvesting from own forests has increased, which has positively impacted on our cash flow.

Q: What kind of actions you have taken to mitigate the negative impacts from Covid-19 on your financial performance?

A: To address costs and mitigate negative market demand impacts, Stora Enso continues to implement additional cost reduction actions. The Group also continues to focus on ensuring liquidity and cash flow, as well as working capital management to remain resilient and ensure quick recovery.

Already in Q1/2020, we increased our profit protection programme target to EUR 350 million for continuous cost savings by the end of 2021, and an additional EUR 85 million for one-time savings. Approximately EUR 40 million of the continuous cost savings were achieved during Q2/2020. Including the one-time cost savings, the total implemented cost saving amounted to EUR 50 million in Q2/2020. The programme is proceeding well and ahead of plan. In 2019, we achieved EUR 105 million in continuous savings, and in 2020 we expect to achieve the same level of new cost reductions.

During Q2/2020, we concluded temporary lay-off discussions in several divisions, continued tight control of variable and fixed costs and increased market related downtime in our mills due to Covid-19 pandemic. Stora Enso maintains a Covid-19 risk assessment process to determine the potential near- and medium-term implications of the direct and indirect impacts on Stora Enso’s business operations.

Q: Will you postpone your Oulu kraftliner conversion project due to Covid-19?

A: Our transformation project at Oulu Mill is proceeding as planned and the conversion to kraftliner production will start in the fourth quarter this year. Paper production at the mill will stop at the end of Q3/2020. After the conversion, we will have a new world-class line for virgin-fibre based kraftliner (both brown and white-top) with an annual capacity of 450 000 tonnes. Stora Enso invests approximately EUR 350 million to convert the Oulu paper mill into packaging production.

In Q2/2020, we introduced AvantForte™ by Stora Enso, a food-safe kraftliner. AvantForte meets the customers' need for high-performing, safe and plastic-free packaging while using less material. AvantForte will be produced at Oulu Mill.

Q: What is Stora Enso’s current liquidity position?

A: Stora Enso’s liquidity and funding position is strong. At the end of Q2/2020, cash and cash equivalents were at EUR 1 062 million. Additionally, the Company has undrawn committed credit facilities of EUR 1 000 million, and a possibility to have EUR 950 million statutory pension premium loans in Finland. There are no financial covenants on Stora Enso Oyj's debt. Going forward we continue to monitor the Covid-19 situation, its impacts on Stora Enso and take steps to keep adequate liquidity at all times. We continue to have a good access to various funding sources.

Q: Why were dividends lowered from EUR 0.50 per share in 2019 to EUR 0.15 per share in 2020?

A: In June, the Annual General Meeting approved the proposal by the Board of Directors that the Company distributes a dividend of EUR 0.15 per share for the year 2019. In addition, the AGM approved the proposal that the Board of Directors to decide at its discretion on the payment of dividend up to a maximum of EUR 0.35 per share. A resolution on the distribution of a dividend will be made at a later stage when it is possible to make a more reliable estimate on the impacts of the Covid-19 pandemic on Stora Enso’s business and liquidity.

Q: How do you expect Covid-19 to impact Q3/2020 demand?

A: Stora Enso has discontinued its quarterly guidance and annual outlook until further notice, due to the uncertainty in the global economy. The current situation has accelerated the decline in demand for European paper, and the market conditions for the Group's other products continue to be mixed.

Q: When you will resume guidance and annual outlook?

A: We will continue following the business environment and consider the guidance when appropriate.

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Stora Enso is offering a possibility to follow its Annual General Meeting (AGM) via webcast as a precautionary measure to decrease any risk of infection of the new COVID-19 coronavirus.

The company strongly encourages any shareholders who

  • have recently visited a risk area for coronavirus infection,
  • have symptoms of illness,
  • or who are part of the risk group,

to consider following the AGM by webcast or authorizing another person to represent them at the meeting.

2014 01 24 083832Shareholders, who have registered for the event, but who decide not to attend the meeting, are asked to cancel their registration by e-mail This email address is being protected from spambots. You need JavaScript enabled to view it. or by phone +358 204 621 245. The AGM will be held on Thursday 19 March 2020 from 16:00 EET. Doors will open at 15:30 EET and shareholders will be asked to go directly to meeting hall after registration.

Stora Enso’s private shareholders can follow the AGM by webcast. Please note that this means the shareholder’s shares are not considered to have attended the meeting. It is not possible to speak or vote over the webcast. To follow the webcast, shareholders need to sign in with a Finnish bank ID or Finnish mobile certificate. The meeting language is Finnish, and some of the speeches are held in English. Simultaneous interpretation or subtitles are not available over the webcast.

More information on following the AGM via webcast and authorizing another person is available on the company website.


Stora Enso aims to keep the meeting as short as possible, fulfilling all legal requirements. That is why no refreshments will be served after the meeting and there will be no product displays prior to the meeting. Stora Enso follows the development relating to coronavirus and will take additional measures if needed. With these precautionary measures, Stora Enso aims at contributing to a safe environment. In normal circumstances about 300 shareholders attend Stora Enso’s Annual General Meetings.

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Stora Enso’s Sustainability Report 2018 was chosen as the best in Finland in a competition organised by an independent group of expert organisations.

Stora Enso’s Sustainability Report won Finland’s best sustainability report of the year award. The report was particularly recognised for strong external assurance and describing risks and opportunities. The report was, amongst other things, also praised for the description of the Group’s strategy contributing to a low carbon future.

stora new1“We are proud that our efforts in transparent reporting have been acknowledged. Our report reflects our sustained focus on topics that ensure a positive contribution to society and address our long-term opportunities and challenges,” says Noel Morrin, EVP Sustainability at Stora Enso.

“A good report must be highly informative and coherent, but also easy to use and continuously developed. As a sustainability driven company, we value this recognition highly,” says Ulrika Lilja, EVP Communications at Stora Enso.

The Stora Enso Annual Report 2018 consists of Strategy, Financials, Sustainability, and Governance. All parts of the Annual Report are available at storaenso.com/annualreport.

The annual sustainability report review has been organised since 1996. This year it was carried out in co-operation with Aalto University, Climate Leadership Coalition, Finland's Sustainable Investment Forum (Finsif), Hanken, Nasdaq, The Finnish Association of Auditors, The Association for Environmental Management, the Ministry of the Environment, and the corporate responsibility network FIBS. This year, a total of 47 sustainability reports from different organisations were evaluated.

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 

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Friday, 22 November 2019 11:14

Intelligent Pulp Solution by Stora Enso

Unlock the hidden value – achieve full traceability across the pulp supply chain.

Stora Enso produces yearly over 9 million tons of pulp in different grades and more than 2 million tons of that is sold globally. Based on our long history in the pulp business, we see a lot of hidden value in the pulp value chain. The lack of visibility and unit level traceability inhibits companies to realize the full value of the pulp.

With Stora Enso’ s complete solution for the pulp industry, our clients can achieve full traceability across the value chain, unlocking value for producers, transporters, warehouse operators and consumers.

We offer a turn-key solution with everything from RFID tags and reading equipment to software and services. Read more about our solutions to see what they can do for your business.

Turn-Key solution by Stora Enso

2019 11 22 111556click to enlarge

Pulp Solution overview

Our solution starts and ends with our unique pulp industry-specific tag, ECO Bale. ECO Bale is a paper-based, repulpable, and fully water-soluble RFID tag with superior performance in the pulp supply chain.

ECO Bale is designed and optimized for tagging pulp bales and complies with the special requirements of the pulping process. Applied to the pulp bale, ECO Bale enables end-to-end traceability until the tagged bale enters the papermaking process and dissolves.

To efficiently apply ECO Bale to the pulp bale, we have developed the Stora Enso Pulp Industry Hammer System, consisting of the Hammer Central Unit, an off-the-shelf industrial-grade label applicator and RFID accessories. The Hammer system has been designed and built to maximize system uptime. All selected components are suitable for industrial environments with no compromises.

The Hammer System, in operation, will do (1) quality control of the tag (2) automated removal of under-performing tags (3) tag encoding (4) encoding data transmission to the selected database (5) tag encoding verification by integrated RFID reader and (6) tag application to the bale unit.

2019 11 22 111345

To read the RFID tagged Bale units at different points in the pulp value chain, Stora Enso offers pre-designed and tested Sonar reading systems for clamp trucks, gate reading points and much more. At every reading point, the data is captured by our Bridge Middleware for use in production and supply chain applications. The captured data may be fed via the Bridge Edge Server to our customers’ systems and/or to the Bridge Cloud.

Stora Enso provides tailored and secure Bridge Cloud portals for monitoring and tracking the pulp supply chain from manufacturers to consumers. 

For all hardware and software components of the solution, we offer installation, integration and maintenance services, ensuring an industry-grade, turn-key solution for our customers.

Download Intelligent Pulp Solution brochure (PDF)

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Wednesday, 06 November 2019 08:55

Stora Enso’s website ranked best in sector

Stora Enso’s website has been rated best in sector according to the latest annual Webranking report by the Swedish digital agency, Comprend. The annual ranking of over 500 company-websites is the only global ranking based on stakeholder expectations, and is a leading benchmark for corporate websites.

This year, Stora Enso ranked first in the “Basic Resources” sector. Particular praise was given to Stora Enso’s sustainability information in matching stakeholder expectations.

stora new 2017“Sustainability is one of Stora Enso’s strongest suits, and an increasingly important ranking factor among all stakeholders, including capital markets and job-seekers,” says Helena Wennergren, Head of Research at Comprend.

“We are very happy with the results from this year’s ranking,” says Ulrika Lilja, EVP Communications at Stora Enso. “Our new website was launched just over a year ago, and we have worked systematically with user input and data to make sure we meet and exceed the expectations of our stakeholders. The fact that our sustainability information scored particularly well once again illustrates that sustainability is at the core of our business and we are committed to communicating it in a clear and transparent way.”

For further information, please contact:
Ulrika Lilja
EVP, Communications

tel. +46 72 221 9228

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 

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Stora Enso has completed the divestment announced on 25 July 2019 of its 60% equity stake in the Dawang Mill in China to its joint venture partner, Shandong Huatai Paper.

stora new 2017The transaction will not have any material impact on Stora Enso’s operational EBIT. Following the transaction, Stora Enso’s net debt will decrease by approximately EUR 22 million and annual sales by approximately EUR 60 million.

After this transaction, Stora Enso has no paper production in China.

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 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

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Stora Enso plans to make organisational changes in the Paper division following the Oulu Mill conversion at the end of 2020. The planned changes could result in a reduction of a maximum of 135 employees in the Paper division.

stora new 2017
Stora Enso’s Paper division is planning to make organisational changes to improve competitiveness and ensure efficient customer service after the Oulu Mill conversion for production of kraftliner for packaging. The planned changes would primarily affect commercial functions and operations support. The planned changes could result in a reduction of a maximum of 135 employees in the Paper division by the end of 2020.


The new organisational set-up is expected to be complete in the first quarter of 2021. The transition to the new organisation will take place in phases to ensure good customer service.

No decisions regarding the planned changes will be taken, nor will there be any redundancies until the appropriate co-determination negotiations have been concluded.

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 

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Stora Enso’s Board of Directors has appointed Annica Bresky, 44, as the new President and CEO of the company as of 1 December 2019. Until then, Stora Enso’s current CEO Karl-Henrik Sundström continues in his position. Bresky is currently Head of Stora Enso’s Consumer Board division.

Annica BreskyAnnica Bresky“We are very happy to welcome Annica Bresky into her new position. Annica brings extensive experience of our industry and has a solid business background. We consider her the most suitable person to continue developing Stora Enso’s strategy and businesses. She has a proven track record of driving growth and operational excellence and has a strong focus on customers and innovations. She is well equipped to lead the transformation of our sustainable renewable materials company,” says Stora Enso’s Chair of the Board of Directors, Jorma Eloranta.

“I am very honoured to have this opportunity. I am looking forward to continuing to build the future of Stora Enso together with our competent teams across the company. We are well positioned to grow with our customers and support their business with sustainable and innovative solutions. Together with my Stora Enso colleagues, our customers and our partners all over the world, we will accelerate our efforts as a front runner in combatting global warming,” says Annica Bresky, CEO-designate.

“I have enjoyed my time with Stora Enso tremendously and am very happy to hand over the torch to Annica. I wish her the best of luck in her new role. My focus for the remaining months will be to support a smooth transition of the leadership responsibilities,” resigning CEO Karl-Henrik Sundström says.

“Karl-Henrik has been the driving force in developing Stora Enso into an industry leader in sustainability and innovation. The Board of Directors highly appreciates his valuable contributions during his years with the company,” Jorma Eloranta concludes.

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

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For the second year running, Stora Enso’s Sustainability Report 2018 has been included in the top ten sustainability reports globally according to the latest Reporting matters publication by the World Business Council for Sustainable Development (WBCSD). 

In WBCSD’s Reporting matters publication, Stora Enso’s Sustainability Report is recognised as good practice for being clearly aligned with the company’s materiality assessment. The report’s navigation and language also received good feedback for ensuring consistency and conciseness while remaining informative.

stora new 2017“We are proud to see our reporting being recognised as good practice,” says Noel Morrin, EVP Sustainability at Stora Enso. “We believe that instead of reporting on everything, companies should focus on material topics, defined together with key stakeholders. We are happy to see that approach being acknowledged.”

“Good reporting is clear, highly informative, and transparent, and it should be continuously developed. In our report, we strive to share fact-based information about sustainability and our performance while remaining compelling and engaging,” says Ulrika Lilja, EVP Communications at Stora Enso.

“Stora Enso’s 2018 Sustainability Report shows a clear alignment between the outcomes of their materiality assessment and the content of the report. Some particularly strong aspects of the report include the focus on the external environment and the comprehensive disclosure of internal management of material issues across the value chain. We hope other companies will see Stora Enso as an example of good practice,” says Rodney Irwin, Managing Director of Redefining Value, WBCSD.

The WBCSD produces Reporting matters to help improve the effectiveness of non-financial corporate reporting. The report lists Stora Enso’s Sustainability Report as one of the top ten in the world out of the 159 reviewed in the scope of the publication without disclosing the exact rankings.

The Stora Enso Annual Report 2018 consists of Strategy, Financials, Sustainability, Governance, and Summary. All parts of the Annual Report are available in PDF format at storaenso.com/annualreport.

WBCSD’s Reporting matters publication is available here.

Part of the bioeconomy, Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wooden constructions, and paper globally. 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 

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