(Información remitida por la empresa firmante)
The whole construction market has been heavily impacted by high inflation and supply chain constraints which impacted the performance of our Wood Products division. Demand for traditional sawn products in our European markets eased in the second half of the year and was followed by our overseas markets showing a similar and accelerated trend in the last quarter of the year. The weakness in this division was further evident in the lower demand for building permits and initiation of fewer building projects and the resulting impact of this rapid market-related slow-down, led to a quarterly loss. One of our focus areas for growth however, Building Solutions, showed a more stable development during the quarter. And as this segment grows as a percentage of our total business, earnings in this division will gradually become less volatile over time. Delivering on our strategic roadmap
During the year, particularly the last three months, we have executed on many strategic initiatives on our agenda to build resilience, accelerate our growth agenda and reshape the focus of the business.
During the fourth quarter, we also started a process to divest our consumer board and forestry operations in Beihai in China. This divestment will enable us to increase resource allocation to sites with economies of scale which serve a global and growing packaging market including China.
To further our growth strategy, we have exited the majority of our paper business and allocated resources to key strategic areas. We invested in cost-leading cartonboard production at Oulu in Finland and expanded our presence in renewable packaging through the large acquisition of De Jong Packaging Group in The Netherlands with the aim of building market share in Western Europe.
We have entered several new collaborations, partnerships, and joint developments to accelerate innovation, knowledge sharing and market access including monitoring the development of battery technologies within wood-based materials. This month, we are delighted to have signed a partnership with the EV automotive brand Polestar to contribute to their Polestar 0 project of climate neutral car for 2030 with our Lignode material for batteries.
The green transition is expediting our strategy
There is long-term, growing demand for Stora Enso’s products globally and we are confident that our strategy will continue to deliver market share gains and sustainable growth from a more resilient and powerful business platform during market downturns.
Innovation and a sustainable business strategy that are closely integrated with our capital allocation, business conduct and design guidelines are key for our long-term success. There are countless national policies around the world being implemented to secure the much-needed green transition. For example, European regulations such as the Single-Use Plastics Directive, the Waste Framework Directive, Construction Products Regulation, the EU Batteries regulation as well as policies like the New European Bauhaus support our innovation initiatives towards the creation of new renewable products. This is reinforced by our ambition of offering 100% regenerative solutions, 100% circular and carbon positive products and achieving net positive biodiversity by 2050.
I am very grateful for the commitment of our teams to deliver innovative products, financial performance, and to meaningfully contribute to a better environment and value for all stakeholders. With our values to “lead” and “do what is right”, we will future proof our business for tomorrow and beyond.
The renewable future grows in the forest.”
Analysts, investors and media are invited to participate in the webcast with teleconference today at 11:00 EET (10:00 CET, 9:00 GMT, 4:00 EST).
The result will be presented by President and CEO Annica Bresky and CFO Seppo Parvi. The presentation can be followed live via the link: https://ir.financialhearings.com/stora-enso-q4-2022.
During the webcast presentation, analysts and investors will also have the possibility to ask questions. To participate in the teleconference, please register here: https://conference.financialhearings.com/teleconference/?id=5005544.
After registration, you will be provided with a phone number and a conference ID to access the teleconference.
Media representatives who wish to ask questions after the publication of the Financial Report, may contact Carl Norell, press officer at Stora Enso on +46 72 2410349.
The link to the webcast will be also available on Stora Enso’s website: storaenso.com/investors.
A recording of the presentation will be available at https://ir.financialhearings.com/stora-enso-q4-2022 and on storaenso.com/en/investors/reports-and-presentations.
This release is a summary of Stora Enso’s Financial Statement Release 2022. The complete report is attached to this release as a pdf file. It is also available on the company website at storaenso.com/investors.
Media enquiries:
Carl Norell
Press Officer
tel. +46 72 2410349
Investor enquiries:
Anna–Lena Åström
SVP Investor Relations
tel. +46 70 2107691
Part of the global bioeconomy, Stora Enso is a leading provider of renewable products in packaging, biomaterials, and wooden construction, and one of the largest private forest owners in the world. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 21,000 employees and Group sales in 2022 of EUR 11.7 billion. Stora Enso 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 as ADRs (SEOAY). storaenso.com/investors
STORA ENSO OYJ
Media enquiries:
Carl Norell
Press Officer
tel. +46 72 2410349
Investor enquiries:
Anna–Lena Åström
SVP Investor Relations
tel. +46 70 2107691
The following files are available for download:
View original content:https://www.prnewswire.co.uk/news-releases/stora-enso-oyj-financial-statement-release-2022-301734345.html