Displaying items by tag: Stora Enso

stora new1Stora 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

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Barcelona mill

stora new1Stora 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

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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.

stora new1The 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.

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signature valmetValmet 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.

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stora new1Stora Enso has signed an agreement to divest its offset printed micro-flute packaging plant in Komárom, Hungary to Van Genechten Packaging International S.A., a leading Belgian packaging company. 

The initial cash consideration for the divestment of the shares is approximately EUR 12 million, subject to customary closing day adjustments. The transaction has no material income statement impact and is expected to be completed within one month.

“There have been major changes in the Komárom plant’s customer base, making the plant no longer strategic to Stora Enso. I believe that a new, solid, international owner can give the company the attention it deserves and develop it further in the new situation,” says Gilles van Nieuwenhuyzen, Head of Packaging Solutions division.

Based on 2014 annual figures, the divestment is expected to reduce Stora Enso’s annual sales by EUR 14 million and simultaneously decrease the annual corrugated packaging converting capacity by approximately 15 million m2. The Komárom plant employs approximately 90 people.

About Van Genechten Packaging International S.A.
VGPI is an independent industrial group with seat in Luxembourg. It consists of 11 folding carton factories in 8 countries, leading the European consumer goods industry with printed folding cartons, microflute and other packaging solutions. With an annual turnover of €295 million, the group converts more than 200,000 tons of cardboard each year and employs 1,600 people.

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

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Stora Enso's Annual Report 2014 has been ranked the best Annual Report in Finland and in the sixth place globally in the Report Watch ranking. The ranking included 1 600 companies from 60 countries.

Stora Enso’s Annual Report was praised for its description of value creation, business transformation, and sustainability practices. Positive feedback was also given for spreading in-depth content over four books.

stora new1The Stora Enso Annual Report 2014 consists of the Progress Book, the Financial Report, the Global Responsibility Performance, and the Corporate Governance Report. The Progress Book was created in 2014 to explain Stora Enso’s strategy, how the company creates value and how its work is progressing.

All parts of the Annual Report are available in PDF format at storaenso.com/annualreport

The Progress Book (in English, Finnish and Swedish) and the Financial Report (in English) can be ordered as printed copies at www.storaenso.com/order

The Top 400 Annual Reports list by Report Watch:
http://www.reportwatch.net/annual-report-on-annual-reports-2015/top-400-annual-reports/

For further information, please contact:
Ulrika Lilja, EVP, Global Communications, tel. +46 72 221 92 28
Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358 40 763 8767
Hanne Karrinaho, Head of Financial Communications, tel. +358 40 766 9452

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. storaenso.com

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Monday, 24 August 2015 09:11

Stora Enso successfully issues two bonds

stora new1Stora Enso has successfully issued two bonds under its EMTN (Euro Medium Term Note) programme. The EUR 125 million ten-year bond pays a floating coupon of Euribor + 2.25%. The second one, EUR 25 million twelve-year bond pays a floating coupon of Euribor + 2.35%. There are no financial covenants. The sole lead manager for the deal was SEK (Swedish Export Credit Corporation).

The maturity of the bonds will extend Stora Enso’s weighted debt maturity profile, because Stora Enso has repurchased the remaining EUR 190 million in its bond issued in 2009 with a floating rate note with a coupon of Euribor +4.21% maturing in 2016. The total cost of the transactions is approximately negative EUR 5 million, which will be recorded under financial items in the third quarter 2015 results.

Stora Enso will use the proceeds of the new loans to finance its operations in Sweden, where the Group employs about 5 000 people and operates five paper and board mills, one pulp mill and two sawmills. Stora Enso has recently opened an innovation centre for biomaterials in the Stockholm area in order to host research, product application, business development, and strategic marketing.

“We have a good long-term relationship with Swedish Export Credit Corporation (SEK). We are delighted that SEK, through this agreement, will support the financing of our operations in Sweden. The terms of the loan are competitive, and through this transaction we enhance our maturity profile in an efficient way,” says CEO Karl-Henrik Sundström.

For further information, please contact:
Seppo Parvi, CFO, tel. +358 2046 21205

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

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stora new1Stora Enso has signed an agreement to divest 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 initial cash consideration for the divestment of the shares is approximately EUR 10 million, subject to customary closing day adjustments. The transaction has no material income statement impact and is expected to be completed in the fourth quarter of 2015, subject to regulatory approvals.

“Stora Enso is focusing its consumer board offering on high quality virgin-fibre products. The Barcelona mill is the only recycled-fibre based mill in our Consumer Board division. Despite positive results development in recent months, the Barcelona mill requires further development effort and investment if it is to remain on a profitable path. I believe that the mill can operate more efficiently under the new ownership,” says Jari Latvanen, Head of Consumer Board division.

Based on the annual figures for 2014, the divestment is expected to reduce Stora Enso’s annual sales by EUR 117 million and simultaneously decrease Stora Enso’s annual board production capacity by approximately 195 000 tonnes. The transaction does not have material impact on Stora Enso’s operational EBIT and cash flow going forward and it will improve operational EBIT and EBITDA margins slightly. The Barcelona mill employs approximately 220 people.

About Quantum
Quantum Capital Partners is a German Private Equity fund headquartered in Munich. Quantum focuses on corporate spin-offs and carve-outs in which the acquisition target has a turnover between EUR 20 and 500 million and can benefit from Quantum’s operational experience. Quantum has completed a series of successful transactions with leading global corporations such as BOSCH, BASF and AIRBUS Group. Quantum’s current portfolio consists of seven companies, with a combined turnover of some EUR 350 million. Quantum commands a newly established fund of more than EUR 57 million and is an active investor in the industry, having completed five transactions in 2014 and two in 2015. www.quantum-capital-partners.com/

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

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stora new1Stora Enso plans to permanently shut down the Group’s corrugated packaging converting unit in Chennai, India, due to unprofitability and a major decrease in local market demand.

The mill closure will involve negotiations with the local employees’ union. The mill employs 350 people, who will receive compensation and other support including training, medical care and assistance in finding new employment.

The packaging unit in Chennai has been part of Stora Enso since July 2011, following the Group’s acquisition of 51% of the shares in Inpac International in China. Today, Stora Enso Inpac offers fibre-based packaging solutions. Chennai Mill in India produces transport and consumer packaging made of corrugated board, for sale primarily in Chennai and Tamil Nadu region.

The total negative impact on Stora Enso’s operating profit in the second quarter of 2015 will be approximately EUR 8 million, mainly related to a restructuring provision. Excluding this one-time impact, the closure will not have a material impact on Stora Enso’s sales and operational EBIT.

For further information please contact:
Ulrika Lilja, EVP, Global Communications, tel. +46 72 221 92 28
Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358 2046 21242

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

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All Stora Enso's five divisions will have financial targets set in order to support the Group in attaining its strategic goal.

stora new1Stora Enso has defined clear strategic targets for each division. The targets will enable the markets to better follow each division’s performance, while guiding the divisions in the implementation of the Group’s strategy – as it transforms itself from a traditional paper and board producer to a customer focused renewable materials company. As Stora Enso’s divisions operate in very distinct business environments, the targets will vary between the divisions.

The key divisional financial target is the Return on Operating Capital (ROOC) percentage – with the exception of the Paper division, which has Free Cash Flow to Net Sales, because its target focuses on the division’s cash flow generation. The targets are defined to be ambitious but reachable within a 5 year planning horizon.

STORA ENSO’S FINANCIAL TARGETS

KPI Target
Group Dividend To distribute 50% of net income
 over the cycle
ROCE >13%
Net Sales growth excl. Paper To grow faster than the relevant market
Net Debt / Operational EBITDA 3.0x
Fixed Costs / Sales ratio 20%
Debt/equity ratio 80%
Consumer Board ROOC >20%
Packaging Solutions ROOC >20%
Biomaterials ROOC >15%
Wood Products ROOC >18%
Paper Free Cash Flow to Net Sales >7%

ROCE = Return on Capital Employed
ROOC = Return on Operating Capital

For further information, please contact:
Seppo Parvi, CFO, tel. +358 2046 21205
Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358 40 763 8767
Ulrika Lilja, EVP, Global Communications, tel. +46 72 221 92 28
Hanne Karrinaho, Head of Financial Communications, tel. +358 40 766 9452

www.storaenso.com
www.storaenso.com/investor

Stora Enso is a leading global provider of renewable solutions in packaging, biomaterials, wood and paper. 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.

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