(Información remitida por la empresa firmante)
We always look for the best opportunities to optimise capital allocation. Continuing operations at Beihai, would require sizeable investments to further improve cost competitiveness. The Beihai divestment process is progressing well, and we are working closely with our Joint Venture partners to manage the interest from potential buyers. The released capital will support our already decided investments in Europe, improving our long-term profitable growth opportunities. The benefits of De Jong Packaging Group acquisition are starting to be visible. We are gaining a modern, cost competitive production base and a strong ecosystem in relatively resilient end uses such as agricultural products. We will also be able to long-term reduce our long position in containerboard. Timing wise, these opportunities do not come very often and for us this is a significant strategic step to gain market share in Western Europe. As to a possible future conversion in Langerbrugge, we will postpone such a decision until more favourable market conditions for containerboard.
The construction of a new consumer board line at the Oulu site is also progressing well. Economies of scale and the additional investments in pulp production, will improve the cost structure and competitiveness of the whole site. The site will have a leading cost-curve position, enabling transportation overseas while still being able to offer high-margin products. The added flexibility from the new line, will also allow for growth in liquid packaging end-uses. Products from other consumer board sites can be moved to Oulu, streamlining the product portfolio and improving productivity in all sites.
We aim to lead in the fiber-based packaging market in premium end-uses globally. The demand for both virgin and recycled consumer board is expected to grow by more than 11 million tonnes globally, approaching 57 million tonnes by 2030. The investment in Oulu allows us to build on the plastic substitution trend and grow with existing and new customers through our global sales network.
The green transition is expediting our strategy
There is long-term, growing demand for Stora Enso’s renewable products 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 over the cycles.
I am very grateful for the commitment of our teams in these turbulent times, to deliver innovative products, financial and operational 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.
Webcast
Analysts, investors, and media are invited to participate in the webcast with a teleconference today at 11:00 am EEST (10:00 CEST, 9:00 BST, 4:00 EDT).
The results will be presented by President and CEO Annica Bresky and CFO Seppo Parvi. The presentation can be followed live via the link: https://stora-enso-q1-2023-results.open-exchange.net/
During the webcast presentation, analysts and investors will also have the possibility to ask questions. To participate in the teleconference, please register here: https://openexc.zoom.us/meeting/register/tJMtc-ytqT8qHtCnFKpapNGiI6gvkHIYfV4N. Registered participants will receive an email with more detailed instructions on how to participate in the teleconference.
Media representatives who wish to ask questions after the publication of the Interim Report may contact Carl Norell, press officer at Stora Enso on +46 72 241 0349.
The webcast link will be also available on Stora Enso’s website: storaenso.com/investors.
A recording of the presentation will be available at https://stora-enso-q1-2023-results.open-exchange.net/ and on storaenso.com/en/investors/reports-and-presentations.
This release is a summary of Stora Enso’s Interim Report January–March 2023. 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 72 241 0349
Investor enquiries:
Anna–Lena Åström
SVP Investor Relations
tel. +46 70 210 7691
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 our sales in 2022 were 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
The following files are available for download:
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