During the first quarter, Stora Enso's Wood Products division reported record results in sales and operational EBIT.<\/p>\n
Sales of Stora Enso's Wood Products division increased by 50%, or EUR 191 million, to EUR 573 million. Higher sales prices and deliveries were supported by continued solid demand.<\/p>\n
Operational EBIT increased by EUR 66 million to a record-high first-quarter of EUR 118 million. High profitability continued driven by higher sales prices, which more than offset increase in costs such as raw material and logistics.<\/p>\n
Stora Enso increased its net sales and doubled its results<\/strong><\/p>\n For all its divisions, the company's net sales increased by 23 percent from the corresponding period last year to EUR 2.8 billion. Operating profit, on the other hand, rose by as much as 53 percent to EUR 503 million. Thus, the operating margin was 18%, compared to 14.4 a year earlier.<\/p>\n Stora Enso's CEO Annica Bresky did not hide her satisfaction in the earnings release.<\/p>\n \u201cStora Enso's year has started very strongly. Our profitability has been record-breaking and we have been able to maintain last year\u2019s growth rate in a very volatile environment, \u201dhe rejoiced.<\/p>\n The figures would have been even more beautiful without the papermaking. Stora Enso has put four of its five paper mills up for sale, including the Anjala paper mill. Only the Belgian plant remains.<\/p>\n This week, Stora Enso has entered into an agreement to divest its two sawmills in Russia. The company\u2019s Nebolchi and Impilahti sawmills will be divested to local management. In addition, the divestment includes Stora Enso\u2019s Russian forest operation which through its harvesting supplies wood to the sawmills.<\/p>","protected":false},"excerpt":{"rendered":" During the first quarter, Stora Enso’s Wood Products division reported record results in sales and operational EBIT. Sales of Stora Enso’s Wood Products division increased by 50%, or EUR 191 million, to EUR 573 million. Higher sales prices and deliveries … Continue reading