HELSINKI, Finland, April 11, 2014 (GLOBE NEWSWIRE) -- STORA ENSO OYJ STOCK EXCHANGE RELEASE 11 April 2014 at 9.00 EET
Stora Enso will record non-recurring items (NRI) with a positive net impact of approximately EUR 24 million on operating profit and a positive impact of approximately EUR 6 million on income tax in its first quarter 2014 results. The NRI will increase earnings per share by EUR 0.04.
The NRI are:
- a positive NRI of approximately EUR 44 million, including a positive EUR 7 million closing adjustment, due to disposal of the Group's 40.24% shareholding in the US-based processed kaolin clay producer Thiele Kaolin Company to Thiele Kaolin Company
- a negative NRI of approximately EUR 13 million due to the planned permanent closure of Sollenau Sawmill in Austria
- a negative NRI of approximately EUR 7 million due to the permanent shutdown of Veitsiluoto Mill paper machine 1 in Finland
Allocation of NRI* between segments
|Printing and Reading||-7|
|Building and Living||-13|
*NRI = Non-recurring items. These are exceptional transactions that are not related to normal business operations. The most common non-recurring items are capital gains, additional write-downs, or reversals of write-downs, provisions for planned restructuring and penalties. Non-recurring items are normally disclosed individually if they exceed one cent per share.
For further information, please contact:
Seppo Parvi, CFO, tel. +358 2046 21205
Ulla Paajanen-Sainio, Head of 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 2013 amounted to EUR 10.5 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