Finland · Delayed Price · Currency is EUR Stora Enso Oyj Earnings Call Transcripts
Fiscal Year 2026
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Adjusted EBIT rose 27% year-over-year to EUR 160 million on stable sales, driven by operational improvements and portfolio optimization. Consumer packaging and biomaterials segments showed strong performance, while external wood sales and Central European sawmills faced margin pressure. Strategic actions and disciplined capital allocation continue amid market volatility.
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Q1 2026 saw stable sales and resilient EBIT despite market headwinds, with internal actions and cost initiatives offsetting FX and ramp-up impacts. The Oulu ramp-up and restructuring weighed on short-term results, while margin expansion and the Swedish forest assets demerger remain key strategic priorities.
Fiscal Year 2025
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Sharpened strategic focus and portfolio optimization drove resilient 2025 results, with EUR 9.3 billion in sales and improved underlying profitability despite market headwinds. Margin expansion, disciplined capital allocation, and sustainability leadership remain top priorities for 2026.
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Sharpened strategic focus includes a forest asset demerger, new financial targets, and a disciplined capital allocation plan. Margin expansion and above-market growth will be driven by internal efficiency programs, innovation, and leveraging a strong asset base, while new revenue streams and sustainability remain central.
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A de-merger will create Europe's largest listed pure-play forest company, unlocking value and enabling Stora Enso to focus on renewable packaging. Strategic reviews and leadership changes support this shift, while an 18-year wood supply agreement ensures operational continuity.
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Sales rose 1% to EUR 2.3 billion with stable underlying profitability, aided by cost controls and a major forest asset divestment that reduced net debt. Oulu ramp-up is slower than planned but on track for full capacity by 2027, while disciplined CapEx and portfolio actions support resilience.
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Sales rose 5% year-over-year to €2.4 billion, with all segments posting positive adjusted EBIT despite Oulu ramp-up costs. Strategic focus sharpened on renewable packaging and forest asset divestment to enhance financial flexibility.
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A strategic review of Swedish Forest assets is underway, considering a tax-free spin-off to create a leading listed forest company. Recent asset sales have strengthened the balance sheet, and anchor shareholders support the review. Updates are expected by year-end.
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Sales grew 9% and adjusted EBIT rose 18% year-over-year, with all divisions posting positive results. A new, leaner structure and successful Oulu ramp-up support future growth, though Oulu ramp-up costs will impact 2025 EBIT. U.S. tariffs pose limited direct risk.
Fiscal Year 2024
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Adjusted EBIT grew 75% year-over-year to EUR 598 million, driven by cost reductions and efficiency gains, despite a 4% sales decline. Strategic investments in packaging and forest asset sales aim to boost future growth and financial flexibility.
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Q3 2024 saw strong profit and sales growth, led by packaging materials, biomaterials, and forest segments, while packaging solutions and wood products faced market headwinds. The company is selling 12% of its Swedish forest assets to reduce debt and expects full-year adjusted EBIT to rise over 50% from 2023.
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Adjusted EBIT more than quadrupled year-over-year, driven by cost reductions and operational efficiencies, with full-year 2024 EBIT expected to exceed last year by over 50%. Liquidity and financial flexibility improved, though high fiber costs and legacy expenses remain challenges.