Interim reports Stora Enso’s profitability rose to an excellent level, with net sales up 24 percent

Stora Enso has benefited from the peak cycle in pulp, timber and packaging products. The company is considering converting the second closed paper machine at the Oulu mill into a board machine.

Forestry company Stora Enso’s operating profit in July – September was EUR 410 million, more than double the same period last year.

In the third quarter, net sales increased by as much as 24 percent to EUR 2,577 million. The operating profit margin rose to as much as 15.9 percent.

Last year, the business suffered severely from the corona epidemic, so the benchmark was exceptionally poor. However, the result for the third quarter of this year was also clearly better than the corresponding period in 2019.

At that time, net sales in July – September were EUR 2,402 million and operating profit EUR 231 million.

Stora Enso has benefited from the peak cycle in pulp, timber and packaging products.

Result improved in all areas except papers, whose downturn sharpened as a result of the corona crisis.

In April, Stora Enso decided to close the Veitsiluoto paper mill in Kemi and the Kvarnsväden paper mill in Sweden.

The mills closed during the third quarter and reduced the company’s paper production by 35 percent.

Stora Enso, which focuses on packaging materials, packaging and wood products, has only one paper mill in Anjala, Kouvola, Finland. It produces book paper.

Demand for printing papers has been declining in the West for a long time and the corona epidemic has sharpened the decline.

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