Stora Enso Corp Stock Price, News & Analysis

Stora Enso Oyj announced that BlackRock, Inc's holding in the company's shares decreased below the 5% threshold on December 24, 2024. The previous position showed BlackRock holding 4.92% shares and 0.14% through financial instruments, totaling 5.06% of shares with voting rights below 5%.

The company has two share series: 175,664,079 A shares and 612,955,908 R shares, with each A share and every ten R shares carrying one vote. The total number of shares is 788,619,987 with at least 236,959,669 total votes. Stora Enso is a leading provider of renewable products in packaging, biomaterials, and wooden construction, with approximately 20,000 employees and sales of EUR 9.4 billion in 2023.

The Shareholders' Nomination Board of Stora Enso has announced its proposals for the Annual General Meeting scheduled for March 20, 2025. The board recommends maintaining nine members, with seven current members proposed for re-election and two new members, Elena Scaltritti and Antti Vasara, to be elected. The board proposes Kari Jordan as Chair and Håkan Buskhe as Vice Chair.

The proposal includes a 3% increase in annual remuneration for board positions, with the Chair to receive EUR 221,728, Vice Chair EUR 125,186, and Members EUR 85,933. 40% of the remuneration will be paid in Stora Enso R shares. Committee remuneration is also set to increase by 3%.

Stora Enso has announced two new share-based incentive plans for key employees, targeting approximately 300 employees with a maximum plan opportunity of EUR 20 million. The plans include the Performance Share Plan 2025-2027 and Restricted Share Unit Plan 2025-2027.

The Performance Share Plan's rewards will be based on earnings per share, total shareholder return, CO2 emission reduction, and gender balance in managerial positions. The Restricted Share Unit Plan will run until December 31, 2027. Both plans will deliver rewards in Stora Enso R shares and cash, with the cash portion covering taxes and social security contributions.

Group Leadership Team members are expected to maintain company shares valued at their gross salary during their membership.

Stora Enso has announced the payment of its second dividend instalment of EUR 0.10 per share for 2023, following the authorization granted by the Annual General Meeting on March 20, 2024. The record date is set for December 13, 2024, with payment scheduled for December 20, 2024. This follows the first dividend instalment of EUR 0.10 paid on April 4, 2024.

The company, a leading provider of renewable products with sales of EUR 9.4 billion in 2023, will process payments through Euroclear Finland Oy and Euroclear Sweden AB. Shareholders registered in Sweden will receive payments in Swedish krona, while ADR holders will receive payments in US dollars through Citibank N.A.

Stora Enso reported strong Q3/2024 performance with sales increasing 6% to EUR 2,261 million and adjusted EBIT rising to EUR 175 million from EUR 21 million year-over-year. The company's adjusted EBIT margin improved to 7.8% from 1.0%. Key developments include progress in value creation and profit improvement programs, with fixed cost savings of EUR 120 million targeted for 2025. The company plans to sell 12% of its Swedish forest assets to reduce debt. Despite positive Q3 results, Stora Enso anticipates slower market recovery for Q4 due to weak consumer board demand, corrugated board overcapacity, and ongoing construction sector weakness. The company maintains its guidance for significantly higher full-year 2024 adjusted EBIT compared to 2023.

Stora Enso has decided to halt the divestment process of its Beihai packaging board production site and forestry business in China, which was announced in December 2022. The company believes the value of keeping the assets exceeds potential sale value. The site will focus on operational excellence, cost optimization, and increasing production of liquid packaging board and premium grades. Stora Enso owns 80% of the Beihai operations, with local partners and IFC holding the remainder. The decision will impact financial reporting, with adjusted EBIT and IFRS operating results decreasing by EUR 7.5 million per quarter, totaling EUR 30 million for 2024, due to previously suspended depreciation.

Stora Enso, a leading provider of renewable products in packaging, biomaterials, and wooden construction, has announced the composition of its Shareholders' Nomination Board. The board, established to exist until otherwise decided, will annually prepare proposals for the company's Annual General Meeting regarding the election and remuneration of Board members and committees, as well as appointments of the Chair and Vice Chair.

The Nomination Board consists of Kari Jordan (Chair of Stora Enso's Board), Håkan Buskhe (Vice Chair), Jouko Karvinen (Chair of Solidium Oy's Board), and Marcus Wallenberg (Chair of FAM AB's Board), with Wallenberg elected as the Nomination Board's Chair. Solidium Oy and FAM AB were Stora Enso's two largest shareholders as of August 31, 2024.

Stora Enso Oyj reported improved profitability in Q2 2024, with adjusted EBIT increasing to EUR 161 million from EUR 37 million year-on-year. The company's adjusted EBIT margin rose to 7.0% from 1.6%. Despite a 3% decrease in sales to EUR 2,301 million, continuing operations grew by 1%.

Key highlights include:

• Progress in value creation programmes focusing on efficiencies
• Profit improvement programme targeting EUR 120 million in fixed cost savings
• Operating working capital decreased by EUR 576 million year-on-year
• Secured EUR 435 million long-term loan for Oulu mill investment

Stora Enso raised its full-year 2024 adjusted EBIT guidance, expecting it to be significantly higher than 2023's EUR 342 million. The company anticipates a gradual market recovery in 2024, supported by profitability initiatives, despite ongoing market uncertainties.

Stora Enso (SEOAY) has announced key leadership changes, appointing Niclas Rosenlew as the new Group Chief Financial Officer and Carolyn Wagner as Executive Vice President of the Packaging Solutions division. Both will join the company by January 2025, replacing Seppo Parvi and Ad Smit, respectively.

Rosenlew, currently CFO at SKF, brings extensive experience in finance and international organizations. Wagner, presently Divisional CEO of Packaging at Klingele Paper & Packaging Group, offers strong industry insight. These appointments aim to support Stora Enso's growth transition and enhance its packaging solutions business.

Stora Enso, a leading provider of renewable products in packaging, biomaterials, and wooden construction, reported sales of EUR 9.4 billion in 2023 and employs approximately 20,000 people globally.