Stora Enso's 4Q 2015 sales at Euro 2 487 million were Euro 65 million, or 2.5% lower than the same quarter a year ago.
Sales excluding structurally declining paper business, the divested Corenso business operations and Barcelona Mill increased by Euro 83 million, or 5.4%, mainly due to the Montes del Plata Pulp Mill and the Varkaus Mill kraftliner ramp-up.
4Q 2015 operational EBIT increased 15.8% to Euro 242 million, mainly due to strong performance in Biomaterials, lower variable costs, and favourable foreign exchange rates.
Stora Enso's CEO Karl-Henrik Sundström comments on the 4Q 2015 results: “Stora Enso has shown its ability to transform into a renewable materials growth company. In the fourth quarter, sales excluding the structurally declining paper business and divestments increased 5.4%. This was mainly driven by the Montes del Plata pulp mill and kraftliner from Varkaus Mill. We also continued to generate strong cash flow during the quarter.
Operational EBIT in the 4Q increased 15.8% to Euro 242 million year-on-year, mainly due to strong performance in the Biomaterials division, lower variable costs and favourable foreign exchange. Division Wood Products delivered its highest fourth quarter operational EBIT ever, mainly due to lower wood costs and positive foreign exchange impact. Group return on capital employed excluding our board mill project in Beihai, China exceeded our strategic target 13%.”
Full year 2015 sales at Euro 10040 million were Euro 173 million, or 1.7% lower than a year earlier, mainly due to a structural decline in paper demand, resulting in lower paper prices in local currencies and lower paper delivery volumes, as well as divestments and closures.
Operational EBIT increased 13% to Euro 915 million, mainly due to strong performance in Biomaterials, favourable foreign exchange rates, and lower variable costs.