Welcome to our dedicated page for Stora Enso news (Ticker: SEOAY), a resource for investors and traders seeking the latest updates and insights on Stora Enso stock.
Stora Enso Corp (SEOAY) provides renewable solutions through fiber-based packaging, biomaterials, and wooden construction products. This news hub offers investors and industry professionals timely updates on the company's sustainable initiatives and market developments.
Access official press releases covering earnings reports, product innovations, and strategic partnerships. Our curated collection includes updates on sustainable forestry practices, circular economy advancements, and operational efficiency improvements within the bioeconomy sector.
Key content areas feature developments in recyclable packaging technologies, biomass conversion processes, and cross-laminated timber applications. Stay informed about regulatory compliance updates and environmental stewardship milestones that reinforce Stora Enso's position as a sustainability leader.
Bookmark this page for consolidated access to verified information about one of Europe's largest private forest owners. Check regularly for insights into how SEOAY balances ecological responsibility with industrial innovation across 30+ countries.
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.
On May 17, 2024, Stora Enso announced that CFO and Deputy CEO Seppo Parvi will leave the company during Q4 2024 to join a company outside the forest industry. Parvi, who joined in 2014, has been pivotal in transforming Stora Enso into a leader in renewable materials. President and CEO Hans Sohlström expressed gratitude for Parvi’s contributions. The search for Parvi’s successor will begin immediately. Stora Enso, a major player in packaging, biomaterials, and wooden construction, reported 2023 sales of EUR 9.4 billion and has 20,000 employees. Its shares are listed on Nasdaq Helsinki and Stockholm, and traded on OTC Markets in the USA (SEOAY).
Stora Enso has revised its full-year 2024 adjusted EBIT guidance, expecting it to exceed the previous estimate significantly, now forecasting a 50% or higher increase compared to 2023's EUR 342 million. This change is driven by successful profit improvement measures and favorable market conditions, particularly in consumer board and pulp demand. However, challenges persist in the Wood Products and Packaging Solutions divisions. The company warns of ongoing market uncertainties like high inflation and potential external disruptions. Stora Enso will publish its Half-year Report on 24 July 2024.
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