Building on the successful first conversion in our site in Oulu, Finland in 2021, we will continue investing in high-quality consumer board by converting the second paper machine at this site. By utilising existing infrastructure, we will significantly reduce the risks and the investment costs compared to a green field expansion. This is our third paper-to-packaging machine conversion since 2016 and we have experienced teams in place to drive the project to create a cost leading mega-site for renewable packaging. At full production, we expect annual sales of 800 million euros, reinforcing our leading position in consumer packaging, serving food end-use markets in Europe and North America. Investing in building solutions for a future of low-carbon and efficient construction
We continue to invest in a more sustainable construction value-chain and recently inaugurated one of the world’s most modern production sites for cross laminated timber (CLT). Located in the Czech Republic, the new site will generate 70 million euros in annual sales at full production. Our capacity to serve markets in Europe, Japan, Australia, and North America will increase by approximately 40%, enabling us to meet the growing demand in green, low-carbon construction.
Commercialising lignin-based innovations
We are step by step commercialising our new lignin-based product portfolio, in end-uses such as glues and binders for furniture, construction and lately components in asphalt. We are scaling up production with partnerships and running customer trials to customise Lignode to specific performance needs. With partners, we also progress with our ambitions to build the world’s greenest battery. In July, we signed a joint development agreement with Northvolt. In October, we signed a Letter of Intent with Beyonder, Norwegian energy storage technology company, for optimisation of properties and commercial deliveries of lignin-based anode material for batteries after industrial-scale production has started.
Setting ambitious goals to advance strategic focus
Stora Enso is committed to deliver a stronger and more resilient investor proposition, both now and for the long term. At our Capital Markets Day in September, we laid out a clear set of targets and long-term ambitions for 2030 to capture growth opportunities. These include increase of sales, excluding inflation, by 30% compared to 2021 and maintaining a 15% operational EBIT margin over the cycle.
But we do not do this alone. We create ecosystems with like-minded partners to build on the creativity and drive of our employees. By leading and doing 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 and conference call at 14:00 EEST (13:00 CEST, 12:00 BST, 7:00 EDT) today. The results will be presented by President and CEO Annica Bresky and CFO Seppo Parvi and may be accessed at https://ir.financialhearings.com/stora-enso-q3-2022
All participants can follow the presentation over the webcast. Analysts and investors who wish to ask questions should join the conference call (details below).
Media representatives who wish to ask questions after the Interim Report is published, may contact Carl Norell, press officer at Stora Enso on +46 72 241 0349.
The link to the webcast will be also available on Stora Enso’s website: storaenso.com/investors
Dial–in details for the analyst and investor conference call
The conference call replay will be available via the weblink: https://ir.financialhearings.com/stora-enso-q3-2022. The webcast will be archived on storaenso.com/en/investors/reports-and-presentations.
This release is a summary of Stora Enso’s Interim Report January–September 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.
For further information, please contact:
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, wooden construction and paper, 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 22,000 employees and our sales in 2021 were EUR 10.2 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:
View original content:https://www.prnewswire.co.uk/news-releases/stora-enso-oyj-interim-report-januaryseptember-2022-301655796.html