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April 30, 2024

Q1/2024 strikes hit Finnish forestry giants profits hard

Finnish forestry giants Stora Enso and Metsä Group reported high profit losses due to political strikes in the first quarter, while UPM reported a more moderate impact.  Stora Enso: a 25 million euro bill from the strike The beginning of the year was difficult for Stora Enso. The company's net sales fell by a fifth in January-March to 2.2 billion euros from a year ago. Adjusted operating profit remained at 156 million euros. However, the financial result was better than in the previous quarter. "Political strikes in Finland had a negative impact of around ...

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