Displaying items by tag: Stora Enso

Stora Enso’s Annual Report 2015 is published today as PDF documents. Stora Enso’s Annual Report is comprised of four separate publications: the Progress Book 2015, the Sustainability Report 2015, the Financial Report 2015, and the Corporate Governance Report 2015.

The Progress Book explains Stora Enso’s strategy, how we create value, and how our transformation is progressing. The publication is available in English, Finnish and Swedish. The Sustainability Report covers Stora Enso’s sustainability performance, following the Global Reporting Initiative G4 framework. The report is available in English.

The Financial Report consists of Stora Enso in capital markets, a summary of our sustainability performance, and the audited Report of the Board of Directors and financial statements. The Corporate Governance Report covers Stora Enso’s corporate governance policy, practices, and actions in 2015. The Financial Report and the Corporate Governance Report are available in English.

Printed publications will be published during the week commencing Monday 7 March 2016. The Progress Book 2015 will be distributed to shareholders registered with Euroclear Finland and Euroclear Sweden who have requested a copy. Printed copies of the Progress Book 2015 and the Financial Report 2015 can be ordered at storaenso.com/order or by sending an e-mail to This email address is being protected from spambots. You need JavaScript enabled to view it.. The Sustainability Report 2015 and the Corporate Governance Report 2015 are available as a PDF.

Stora Enso has today also published the following separate PDF documents:

- The official Financial Statements in Finnish
- English translation of the Parent Company Financial Statements for 2015
- Finnish translation of the Corporate Governance Report 2015

All of these publications and documents can be downloaded at the group’s website at storaenso.com/annualreport

For further information, please contact:
Ulrika Lilja, EVP, Communications, tel. +46 72 221 9228
Hanne Karrinaho, Head of Financial Communication, tel. +358 2046 21446

Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wood and paper on global markets. Our aim is to replace non-renewable materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 26 000 people in more than 35 countries, and our sales in 2015 were EUR 10.0 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) on the International OTCQX over-the-counter market. storaenso.com

Attachments:
Sustainability_Report_2015.pdf
Progress_Book_2015_ENG.pdf
Financial_Report_2015.pdf
Stora_Enso_Oyj_Parent_Company_financial_statements_2015.pdf
Corporate_Governance_Report_2015.pdf

Swedish Minister for Enterprise and Innovation, Mikael Damberg, joins Stora Enso CEO, Karl-Henrik Sundström, at the official Innovation Centre inauguration.

The Innovation Centre for biomaterials will host research, application, business development and strategic marketing under one roof. By creating renewable solutions and products from second-generation biomass, such as wood, in order to replace fossil-based products, the centre is addressing societal problems such as climate change, increased urbanisation as well as water and land use issues.

“The Innovation Centre in Stockholm is another important step on the road to Stora Enso’s transformation into a renewable materials company. It will help us build on our long, worldwide tradition in forestry, which – when coupled with access to sustainable raw materials and our expertise in fibres – gives us an excellent starting point for creating solutions that will benefit our customers and end-users in various industries and markets,” says Karl-Henrik Sundström, CEO at Stora Enso.

 “Specifically, the centre will help to boost innovation by identifying business opportunities in the markets for renewable materials and bio-based chemicals. We will link our own expertise with leading research centres, universities and business partners,” says Arno van de Ven, SVP, Head of Innovation in Stora Enso’s Biomaterials division.

Currently, there are 40 people working in the centre and it is estimated that by the end of 2017 it will employ around 100 people, recruited both from inside of the company as well as externally. The Innovation Centre covers 4 900 m2, with a state-of-the art laboratory area of 1 600 m2, and is located in the greater Stockholm area in Nacka, Sweden.

About Biomaterials division
Stora Enso’s Biomaterials division is a provider of pulp grades to meet the demands of various paper, board and tissue producers. The offering also includes fluff for hygiene applications and dissolving pulp for the textile industry. The mission of the Biomaterials division is to find new, innovative ways to maximise the value extractable from wood, as well as other kind of ligno-cellulosic biomasses. Through innovation, the aim is to develop into a cost and performance differentiated renewable biochemical company offering drop-in and new materials to industries we already cooperate with and industries new to Stora Enso.

For further information, please contact:
Ulrika Lilja, EVP, Head of Communications, tel. +46 72 221 92 28
Kirsi Seppäläinen, Head of Communications, Division Biomaterials, tel. +358 400 786659

www.storaenso.com

Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wood and paper on global markets. Our aim is to replace non-renewable materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 27 000 people in more than 35 countries, and our sales in 2014 were EUR 10.2 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) on the International OTCQX over-the-counter market.

Stora Enso plans to divest its ownership in the Arapoti Mill in Brazil to Papeles Bio Bio. The divestment supports Stora Enso's transformation into a renewable materials growth company.

Stora Enso has signed an agreement to divest its entire 80% shareholding in the Arapoti magazine paper mill in Paraná, Brazil, to Papeles Bio Bio, a Chilean paper producer. The consideration for the divestment of the shares is approximately EUR 21 million, subject to customary closing day adjustments. The loss on disposal amounts to approximately EUR 27 million and will be recorded as a non-recurring item in Stora Enso’s fourth quarter 2015 results. The transaction will reduce Stora Enso’s net debt by approximately EUR 18 million.

The transaction is subject to regulatory approvals and is expected to be completed during the first quarter of 2016. At completion, the cumulative translation adjustment loss will be transferred from an equity reserve to the income statement. Based on the foreign exchange rate on 30 November 2015, the cumulative translation adjustment loss is estimated to be EUR 30 million.

Arapoti’s plantation company, which owns 30 000 hectares of plantations, and in which Stora Enso has a 20% shareholding, is not part of the transaction.

Based on 2015 annual figures, the transaction decreases Stora Enso’s sales by approximately EUR 100 million.

“Arapoti Mill is in good technical shape and has a loyal customer base. I believe that it will benefit from being part of a Chilean company with a newsprint production unit close to the mill,“ says Kati ter Horst, EVP Paper division at Stora Enso.

Arapoti Mill is the only producer of coated magazine paper (LWC) in South America. The majority of its production is sold to the domestic market and the rest to other Latin American countries. The mill has an annual production capacity of 185 000 tonnes of LWC, and it employs 320 people. Arauco, a Chilean forest products company, owns 20% of Arapoti Mill.

About the buyer
Papeles Bio Bio S.A. is a Chilean producer of newsprint and mechanical speciality papers, with one mill located in Chile and one in Brazil. Papeles Bio Bio’s annual paper production is approximately 300 000 tonnes and the company serves the major newsprint publishers and commercial printers of South America. It is owned by a consortium of Chilean and international investors.

Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wood and paper on global markets. Our aim is to replace non-renewable materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 27 000 people in more than 35 countries, and our sales in 2014 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) on the International OTCQX over-the-counter market.www.storaenso.com

Pöyry and Stora Enso detail packaging trends at annual Investors Breakfast in London

Executives from Pöyry Management Consulting and Stora Enso detailed the drivers behind a buoyant packaging market that is due to see growth across all materials.

Pöyry Management Consulting selected the Future of Packaging theme for its annual Investors Breakfast held at Stationers’ Hall in London. The packaging sector has enjoyed stable growth for the past two decades, has proven to be largely recession proof, enjoys an optimistic outlook for the years ahead and generates attractive returns on private equity investment.

Jarkko Sairanen, President at Pöyry Management Consulting, said, “Packaging is a $670 billion market and we are seeing positive growth across all packaging materials – this makes it a very exciting and dynamic industry at the moment. This truly global industry is performing well globally – and very well in the Asia Pacific region in particular due to the link between demand and population growth. The other drivers of this vast industry are interlinked and complex but include retail structures and competition, consumer behavior, materials and technology, cost, sustainability and regulation. It is a pleasure to bring together investors and industry figures at our event to discuss these issues in depth.”

Special industry guest Jari Latvanen, Executive Vice President, Head of Consumer Board at Stora Enso, delivered a presentation informed by his FMCG background and understanding of consumer purchasing behavior and trends. He identified the consumers as the key driver for both growth and change, and linked the brand owners and Stora Enso responses to the observed consumer behavior.

Latvanen said, “The future is now. At Stora Enso we believe that everything that’s made with fossil-based material today can be made from a tree tomorrow. There are some exciting innovations taking place in this area such as micro fibrillated cellulose (MFC). With MFC, you can make high-quality packaging that is lighter and more durable from less raw materials. You’ll get more for less, without compromising on quality.

“The demand for more paperboard packaging from consumers is also clear and this technology helps us to do more to match it. We work across the value chain to understand consumers who are increasingly conscious of what goes into their food and how that is packaged and delivered. Brands can no longer ignore this. We need a 360 degree view of the product.”

Sairanen was joined by fellow Pöyry consultants David Powlson and Outi Juntti who added additional perspectives on the forces shaping the future of packaging such as sustainability, and the need for packaging producers to continuously maintain the balance between cost, quality and functionality as well introduce cutting –edge technologies such as RFID.

Managing Director of Pöyry Capital, Cele Moncayo-Quiros analysed packaging as an asset class and covered the financial responses from the public and private equity markets to the growth of packaging. On the private equity side, he explained how some packaging companies were being broken up for IPOs and divestitures and that these investments were generating returns in the range of 30-70% for the private equity funds. Pitfalls of packaging investments and observed M&A packaging mega trends were also outlined.

About Pöyry
Pöyry is an international consulting and engineering company. We serve clients globally across the energy and industrial sectors and provide local services in our core markets. We deliver management consulting and engineering services, underpinned by strong project implementation capability and expertise. Our focus sectors are power generation, transmission & distribution, forest industry, chemicals & biorefining, mining & metals, transportation and water. Pöyry has an extensive local office network employing about 6,000 experts. Pöyry's net sales in 2014 were EUR 571 million and the company's shares are quoted on NASDAQ OMX Helsinki (Pöyry PLC: POY1V).

Website: www.poyry.com

Last year, Stora Enso announced an investment of EUR 27 million to increase the capacity of Consumer Board Machine 5 at Imatra mills in Finland. The investment is now ready.

In addition to a capacity increase of 20 000 tonnes, the investment also enables quality enhancements and cost-competitiveness in global markets.

"With the investment, we have anticipated the demands of our customers for their brands. The quality and capacity that we have now achieved will keep us on the cutting edge of the industry," says Marko Pekkola, Head of Operations Consumer Board.

"We're now able to produce more general packaging, like multipacks for yoghurt, as well as more liquid packaging board for the packaging of milk and juice, for example. The new production capacity goes to European and global markets," he continues.

The investment in the Tainionkoski unit was realised in two phases this year, one phase in June and the other in August/September during the mill's scheduled maintenance stoppage.

"Our customers are positive about this change, and we have worked in close cooperation with them. There were no breaks in our deliveries during the transition time," Pekkola says.

The investment required a fair amount of technical planning. The focus of the investment was on the coating part of the board machine and on modernising the winder and reel packaging section.  An experienced user group of mill employees were part of the practical planning. Some occupational health and safety factors were improved with the investment as well.
 
Imatra mills consist of two units, Kaukopää and Tainionkoski. The annual capacity of the mills is over one million tonnes of board and paper. The mills employ approximately 870 people, about 90 of them work at Tainionkoski.

CDP, the international non-profit organisation that promotes sustainability, has identified Stora Enso as a Nordic leader in disclosing climate change data to investors and other stakeholders. In CDP’s Nordic Climate Disclosure Leadership Index (CDLI), Stora Enso receives a score of 99/100. High scores within the index indicate that a company provides robust climate data with a high level of transparency.

“Since our core business is based on renewable raw materials, we are in a unique position when it comes to controlling our carbon emissions,” says Noel Morrin, EVP Global Responsibility at Stora Enso. “Combating global warming is a top priority and our commitment to transparent reporting helps us make the right decisions that can drive change.”

In order to be ranked in the index, CDP performs an independent assessment on the company’s climate work. The constituent organisations within CDLI are ranked within the top 10% in their respective region.

Paul Dickinson, executive chairman and co-founder of CDP says: “As the world looks beyond the Paris climate change negotiations and prepares for a low carbon future, reliable information about how companies are responding to the transition will be ever more valuable. For this reason we congratulate those businesses that have achieved a position on CDP’s Climate Disclosure Leadership Index.”

At the request of 822 investors who represent EUR 86 trillion in assets, thousands of companies submit annual climate disclosures to CDP. Top scores assure investors that companies are accountable and well prepared to respond to changes in market demands and emission regulations.

For further information, please contact:
Noel Morrin, EVP Global Responsibility, tel. +46 7307 68898
Ulrika Lilja, EVP Global Communications, tel. +46 1046 71668

About CDP
CDP, formerly Carbon Disclosure Project, is an international, not-for-profit organization providing the only global system for companies and cities to measure, disclose, manage and share vital environmental information. CDP works with market forces, including 822 institutional investors with assets of €86 trillion, to motivate companies to disclose their impacts on the environment and natural resources and take action to reduce them. More than 5 500 companies disclosed environmental information through CDP in 2015. CDP now holds the largest collection globally of primary climate change, water and forest risk commodities information and puts these insights at the heart of strategic business, investment and policy decisions. www.cdp.net https://www.cdp.net/CDPResults/CDP-Nordic-climate-change-report-2015.pdf

Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wood and paper on global markets. Our aim is to replace non-renewable materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 27 000 people in more than 35 countries, and our sales in 2014 were EUR 10.2 billion. Stora Enso shares are listed on NASDAQ OMX Helsinki (STEAV, STERV) and Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) on the International OTCQX over-the-counter market.

Stora Enso has received the highest rating in a report on Sustainability Communication in Sweden. The study, which includes all 72 companies listed on the Nasdaq Stockholm Large Cap index, is conducted with the aim to explore and measure sustainability communication. The report is commissioned by the Mistra Center for Sustainable Markets (MISUM) at the Stockholm School of Economics.

The companies included in the study (named “Walking the Talk”) are rated based on what they say that they will do (“talk”), and what they say that they have done (“walk”) with regards to Sustainability/Corporate Responsibility. Stora Enso was the only company to achieve the highest score of 17/17 within the “talk” category and also shared the highest rating in the “walk” category with a score of 14/17.

“It is very rewarding to receive a strong rating in something that is high on our corporate agenda and that we allocate a lot of time and resources to,” said Noel Morrin, Executive Vice President of Global Responsibility at Stora Enso. “Sustainability is a continuous mission and one where the definitions as well as the criteria for success are changing rapidly. We are dedicated to become a global frontrunner when it comes to both social and environmental issues, and the top ranking in MISUM’s report shows that we are on the right path.”

Download the “Walking the Talk” study from MISUM.

For further information, please contact:

Ulrika Lilja, EVP, Global Communications, tel. +46 72 221 92 28
Carl Norell, SVP Press Sweden, tel. +46 722 410 349

Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wood and paper on global markets. Our aim is to replace non-renewable materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 27 000 people in more than 35 countries, and our sales in 2014 were EUR 10.2 billion. Stora Enso shares are listed on NASDAQ OMX Helsinki (STEAV, STERV) and Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) on the International OTCQX over-the-counter market. www.storaenso.com

Barcelona mill

Stora Enso has completed the divestment announced on 27 July 2015 of its Barcelona mill, which produces recycled-fibre based consumer board, to the private equity fund Quantum. The transaction is in line with Stora Enso’s strategy to focus its consumer board offering on high quality virgin-fibre products.

The total cash consideration for the divestment of the shares is EUR 10 million, subject to customary closing day adjustments. The transaction has no material income statement impact.

Based on the annual figures for 2014, the divestment reduces Stora Enso’s annual sales by EUR 117 million and simultaneously decreases Stora Enso’s annual board production capacity by approximately 195 000 tonnes from the beginning of the fourth quarter 2015 onwards. The transaction does not have material impact on Stora Enso’s operational EBIT and cash flow going forward, and it will improve the operational EBIT and EBITDA margins slightly. The Barcelona mill employs approximately 220 people and was part of Consumer Board division.

Komárom plant

In addition, Stora Enso has completed the divestment announced on 31 August 2015 of its packaging plant in Komárom, Hungary, which produces offset printed micro-flute packaging, to Van Genechten Packaging International S.A.

The total cash consideration for the divestment of the shares is EUR 13 million, subject to customary closing day adjustments. The transaction has no material income statement impact.

Based on the annual figures for 2014, the divestment reduces Stora Enso’s annual sales by EUR 14 million and simultaneously decreases the annual corrugated packaging converting capacity by approximately 15 million m² from the beginning of the fourth quarter 2015 onwards. The Komarom plant employs approximately 90 people and was part of Packaging Solutions division.

For further information, please contact:
Ulrika Lilja, EVP Global Communications, tel. +46 72 221 9228
Ulla Paajanen-Sainio, SVP Investor Relations, tel. +358 40 763 8767

Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wood and paper on global markets. Our aim is to replace non-renewable materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 27 000 people in more than 35 countries, and our sales in 2014 were EUR 10.2 billion. Stora Enso shares are listed on NASDAQ OMX Helsinki (STEAV, STERV) and Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) on the International OTCQX over-the-counter market. www.storaenso.com

The renewable materials company Stora Enso will be the presenting sponsor of the FIS Nordic World Ski Championships in Lahti in 2017. Stora Enso and Lahti2017 together aim to lead the way in promoting and supporting sustainable events.

The Finnish city of Lahti will host the Nordic World Ski Championships in 2017 for a record seventh time. The Championships will take place between 22 February and 5 March 2017.
The pre-World Championships, World Cup games in cross country skiing, ski jumping and Nordic combined will be held on 19-21 February 2016, also in Lahti.

“This collaboration is especially important to Stora Enso because we have a long history in Finland even before the country’s independence in 1917,” says Karl-Henrik Sundström, CEO of Stora Enso. “We are honoured to have a role in creating a successful international sports event in the year that Finland celebrates 100 years of independence.”

“Sponsoring the Nordic World Championships in Lahti is a great match for us because our roots are in the Nordic forests where cross country skiing takes place. We can contribute greatly to a sustainable event with our renewable materials: packaging, biomaterials, wood products and paper. We have very positive experiences from the Nordic World Ski Championships 2015 in Falun, Sweden, to build on,” Sundström concludes.

“We are very happy to start co-operation with Stora Enso in building a successful and sustainable international event. Together we can create excellent customer experience to all of our guests, from athletes to spectators, says Janne Leskinen, Secretary General of Lahti2017 FIS Nordic World Ski Championships.

“We are pleased to bring to a new level our excellent cooperation with Stora Enso,” adds Ingolfur Hannesson, Head of Winter Sports at Eurovision (EBU), holders of the media and marketing rights for Lahti2017. “Our policy is to work closely with companies who are willing to contribute before, during and after the Championships to ensure we leave a positive footprint that will endure for many years after the event itself.” 

“Stora Enso firstly showed its commitment to the Nordic disciplines as sponsor of the World Cup 2014 and World Championships 2015 in Falun. We are delighted that the company’s next step is their involvement in the 2017 Nordic World Ski Championships in Lahti,” commented Marcel Looze, Marketing Manager of International Ski Federation.

For further information, please contact:
Ulrika Lilja, EVP, Global Communications, tel. +46 72 221 92 28
Liisa Nyyssönen, SVP Communications Paper division and Finnish media, tel. +358 40 544 3491

Lahti2017: Secretary General Janne Leskinen, +358 400 300 930, This email address is being protected from spambots. You need JavaScript enabled to view it.

Valmet and Stora Enso Kvarnsveden have signed a five-year (three plus two) agreement on the supply of paper machine and fiber line consumables including clothing, doctor blades, refiner segments, winder consumables and selected roll covers. The agreement also includes local roll maintenance operations next to Kvarnsveden's site at Borlänge. The agreement is valid as of July 1, 2015.

Technical support for maintenance and production is part of the agreement. The performance of consumables is optimized by taking advantage of remote analytics and the skills of Valmet's technology experts. In addition, Valmet will keep a ready stock of consumables for Kvarnsveden. This total cost of ownership agreement (TCO) is an exclusive agreement with a fixed monthly fee. The value of the agreement has not been disclosed.

Optimizing consumable performance and simplifying daily operations

The agreement provides a framework for long-term collaboration between Kvarnsveden and Valmet. The aim is to improve the efficiency of daily operations and decrease costs for both partners. Fixed monthly invoicing increases cost predictability. 

"With our advanced services offering Valmet's goal is to continuously simplify our customers' daily operations, reduce the consumption of consumables and find cost efficient solutions. I am convinced that we will exceed Kvarnsveden's expectations of us," says Per Holm, Vice President, Sales, Scandinavia at Valmet.

Information about the customer Stora Enso and the Kvarnsveden Mill

Stora Enso is the global rethinker of the paper, biomaterials, wood products and packaging industry. The company produces chemical pulp, paper and board, corrugated packaging and sawn wood products. The Kvarnsveden Mill produces improved newsprint and magazine paper on three paper machines. The production capacity is approximately 720,000 tons per year.

Further information, please contact:
Per Holm, Vice President, Sales, Scandinavia, Valmet, tel. +46 705 17 13 88,
Peter Lindgren, Sales Manager, Consumable Solutions, Scandinavia, Valmet, tel. +46 54 17 11 38
Juha Ojala, Senior Manager, Concept Development, Services, Valmet, tel. +358 40 702 9117

Valmet is the leading global developer and supplier of technologies, automation and services for the pulp, paper and energy industries. Valmet's vision is to become the global champion in serving its customers.
 
Valmet's services cover everything from maintenance outsourcing to mill and plant improvements and spare parts. The strong technology offering includes pulp mills, tissue, board and paper production lines, as well as power plants for bio-energy production. Valmet's advanced automation solutions range from single measurements to mill wide turnkey automation projects.
 
Valmet's net sales in 2014 were approximately EUR 2.5 billion. Our 12,000 professionals around the world work close to our customers and are committed to moving our customers' performance forward - every day. Valmet's head office is in Espoo, Finland and its shares are listed on the NASDAQ OMX Helsinki Ltd.