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Stora Enso Oyj publishes its Annual Report 2023, highlighting financial statements, sustainability reporting, and corporate governance. The report complies with ESEF requirements, includes XBRL tags, and is audited by PricewaterhouseCoopers Oy. Stora Enso reports against SASB's Sustainability Accounting Standards and discloses emission data with GHG Protocol. The company, a key player in the bioeconomy, emphasizes renewable products and sustainable practices. Stora Enso had Group sales of EUR 9.4 billion in 2023 and employs around 20,000 people. The company's shares are listed on Nasdaq Helsinki Oy, Nasdaq Stockholm AB, and OTC Markets in the USA.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.13%
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Rhea-AI Summary
Stora Enso Oyj has announced the convening of its Annual General Meeting to be held on March 20, 2024. Shareholders can exercise their voting rights by voting in advance, and the AGM will be conducted in Finnish with translation available. The meeting will include matters such as the adoption of annual accounts and the resolution on the use of profit and distribution of dividends.
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Rhea-AI Sentiment
End-of-Day
-3.08%
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Rhea-AI Summary
Stora Enso's Q4/2023 saw a 24% decrease in sales to EUR 2,174 million, with operational EBIT decreasing to EUR 51 million and operational EBIT margin decreasing to 2.3%. Full year 2023 sales were EUR 9,396 million, with operational EBIT at EUR 342 million. The company's net debt increased by EUR 1,314 million to EUR 3,167 million. Stora Enso has initiated a profit improvement program targeting annualized EUR 80 million improvement of operational EBIT and is committed to reaching net-zero carbon emissions by 2040. The Board of Directors will propose a dividend of EUR 0.10 per share at the Annual General Meeting on 20 March 2024, with a potential additional dividend of up to EUR 0.20 per share.
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Rhea-AI Sentiment
End-of-Day
-3.08%
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Rhea-AI Summary
Stora Enso Oyj plans to initiate a new profit improvement program targeting an annualized EUR 80 million improvement of the operational EBIT, potentially leading to a reduction of approximately 1,000 employees. The majority of the savings would materialize during 2025, and the larger part of the employee reductions are planned to take place during the first half of 2024. The program is designed to improve the company's long-term competitiveness by focusing on core business activities without any new production site closures. Stora Enso completed a restructuring program in 2023, resulting in an annual operational EBIT improvement of EUR 110 million and 1,150 employee reductions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.08%
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Rhea-AI Summary
Stora Enso Oyj has established two new share-based incentive plans for key employees, aiming to offer remuneration that motivates, attracts, and retains top-tier employees. The plans align with the company's strategy and long-term financial interests, with a target group of approximately 300 employees and a maximum of 1.6 million shares as potential rewards. The Performance Share Plan 2024–2026 includes performance measures such as earnings per share, total shareholder return, CO2 emission reduction, and gender diversity. The Restricted Share Unit Plan 2024–2026 is directed to key employees of the group, with rewards paid after the end of the plan period. Stora Enso is a leading provider of renewable products and has approximately 21,000 employees, with sales of EUR 11.7 billion in 2022.
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Rhea-AI Sentiment
End-of-Day
-3.08%
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News
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Stora Enso Oyj (STEAV, STERV) Shareholders' Nomination Board proposes changes in Board of Directors and remuneration for 2024 AGM
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End-of-Day
-2.27%
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Stora Enso's Q3/2023 sales decreased by 28% to EUR 2,127 million. Operational EBIT decreased to EUR 21 million. The company faces a continued subdued market outlook for the rest of 2023 and going into 2024. Stora Enso reiterates its full-year 2023 operational EBIT to be significantly lower than for the full-year 2022.
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Rhea-AI Sentiment
End-of-Day
5.49%
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Stora Enso appoints Ad Smit as Executive Vice President of the Packaging Solutions division and a member of the Group Leadership Team. David Ekberg leaves his position as Executive Vice President of the Packaging Solutions division. Stora Enso is a leading provider of renewable products in packaging, biomaterials, and wooden construction.
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Rhea-AI Sentiment
End-of-Day
5.49%
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Rhea-AI Summary
Hans Sohlström appointed new President and CEO of Stora Enso
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0.77%
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Stora Enso Oyj upgrades trading to OTCQX Best Market, providing transparent trading for US investors.
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Stora Enso Oyj