HELSINKI, Finland, Oct. 9, 2013 (GLOBE NEWSWIRE) -- STORA ENSO OYJ STOCK EXCHANGE RELEASE 9 OCTOBER 2013 AT 09.01 EET
Stora Enso guided on 19 July 2013 that its operational EBIT in the third quarter of 2013 would be in line with or slightly higher than its EUR 124 million operational EBIT in the second quarter of 2013. The actual operational EBIT in the third quarter of 2013 at approximately EUR 180 million was significantly higher than in the second quarter of 2013 due to better than expected performance mainly in Renewable Packaging and the segment Other's wood supply and Nordic forest equity accounted investments.
Operational EBIT is expected to be clearly lower in the fourth quarter of 2013 than the EUR 158 million in the fourth quarter of 2012, essentially due to the continuing weak demand and price situation in European paper markets. Renewable Packaging is expected to experience usual seasonal weakness in operational EBIT in the fourth quarter of 2013.
Operational EBIT comprises the operating profit excluding non-recurring items (NRI) and fair valuations of the segments and Stora Enso's share of the operating profit excluding NRI and fair valuations of its equity accounted investments (EAI).
Stora Enso will announce its third quarter 2013 results on Tuesday 22 October 2013.
For further information, please contact:
Jyrki Tammivuori, acting CFO, tel. +358 2046 21043
Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358 2046 21242
Stora Enso is the global rethinker of the paper, biomaterials, wood products and packaging industry. We always rethink the old and expand to the new to offer our customers innovative solutions based on renewable materials. Stora Enso employs some 28 000 people worldwide, and our sales in 2012 amounted to EUR 10.8 billion. Stora Enso shares are listed on NASDAQ OMX Helsinki (STEAV, STERV) and Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) in the International OTCQX over-the-counter market.
STORA ENSO OYJ
Source: Stora Enso Oyj