Stora Enso net profit up despite lower sales in first quarter

Friday, Apr 24, 2015

In the first quarter of 2015, Stora Enso's operating profit and net profit for the period increased by 21% and 29% respectively despite a 3% decline in sales.

Stora Enso reported a 3% decrease in sales in the first quarter of 2015, which the company mainly attributed to lower paper demand, capacity cuts, and the sale of business operations (Corenso, Uetersen). Lower costs and favourable exchange rate developments helped Stora Enso to increase its operational EBIT and net profit for the period by 21% and 29% respectively.

The transformation to a value-creating renewable materials company was going according to plan, said Stora Enso. Projects like the construction of Guangxi consumer board mill, the ramp-up of Montes del Plata pulp mill, the conversion of Varkaus mill and the Imatra investment were on schedule.

In the first quarter of 2015, growth businesses (biomaterials, wood products, packaging and other) accounted for 63% of sales and 92% of operational EBIT.

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