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Stora Enso's Historical Figures According to the New Division Structure

HELSINKI, Finland, March 18, 2015 (GLOBE NEWSWIRE) -- From the first quarter of 2015 onwards, Stora Enso will publish financial figures for its five divisions and its segment Other.

As announced on 18 December 2014, Stora Enso has reorganised its divisional and reporting structure. In Stora Enso, the IFRS reporting segments are formed by divisions except for the segment Other.The new structure is valid from 1 January 2015 onwards. Stora Enso will report financial figures for the divisions Consumer Board, Packaging Solutions, Biomaterials, Wood Products and Paper and the segment Other.

The former Renewable Packaging division has been split into two separate divisions: Consumer Board and Packaging Solutions. The Consumer Board division operates five board mills in Finland, Sweden and Spain. The operations of the Guangxi board mill project in China and the Bulleh Shah Packaging joint venture in Pakistan also belong to Consumer Board. Packaging Solutions operates container board mills in Finland and Poland and converting plants in ten countries in Europe and Asia, including Inpac Packaging in China and India.

The new structure in the packaging business is a further step towards strengthening Stora Enso's focus on customers, business performance and growth. It also increases transparency in financial reporting.

Name until 31 Dec 2014 Name from 1 Jan 2015
Renewable Packaging -
- Consumer Board Division
- Packaging Solutions Division
Biomaterials Biomaterials Division
Building and Living Wood Products Division
Printing and Reading Paper Division
Other Other

The segment Other includes the Nordic forest equity-accounted investments, Stora Enso's shareholding in Pohjolan Voima, operations supplying wood to the Nordic mills and Group shared services and administration.

The historical figures according to the new reporting structure are presented in the tables below.

SALES

EUR million 2014 Q4/14 Q3/14 Q2/14 Q1/14 2013 Q4/13 Q3/13 Q2/13 Q1/13
Consumer Board 2 297 554 583 596 564 2 241 523 564 581 573
Packaging Solutions 1 065 263 276 259 267 1 061 268 274 264 255
Biomaterials 1 104 314 284 243 263 1 033 266 239 266 262
Wood Products 1 779 415 429 490 445 1 867 466 460 500 441
Paper 3 912 984 959 970 999 4 319 1 054 1 041 1 101 1 123
Other 2 567 645 579 654 689 2 690 672 612 685 721
Inter-segment sales -2 511 -623 -596 -633 -659 -2 648 -637 -637 -671 -703
Sales Total 10 213 2 552 2 514 2 579 2 568 10 563 2 612 2 553 2 726 2 672


OPERATIONAL EBITDA*

EUR million 2014 Q4/14 Q3/14 Q2/14 Q1/14 2013 Q4/13 Q3/13 Q2/13 Q1/13
Consumer Board 439 81 129 126 103 361 74 105 92 90
Packaging Solutions 183 46 51 40 46 161 48 47 37 29
Biomaterials 173 60 47 28 38 153 42 37 32 42
Wood Products 126 19 30 47 30 115 30 33 39 13
Paper 361 109 84 83 85 290 86 81 51 72
Other -13 -7 -8 2 0 10 -20 16 6 8
Operational EBITDA Total 1 269 308 333 326 302 1 090 260 319 257 254

*Operational EBITDA comprises the operating profit excluding fixed asset depreciation and impairment, share of results of equity accounted investments, NRI and fair valuations.



OPERATIONAL EBIT*

EUR million 2014 Q4/14 Q3/14 Q2/14 Q1/14 2013 Q4/13 Q3/13 Q2/13 Q1/13
Consumer Board 292 44 95 91 62 217 40 67 56 54
Packaging Solutions 118 30 35 23 30 101 33 33 21 14
Biomaterials 89 34 24 10 21 77 24 17 14 22
Wood Products 89 10 22 37 20 75 19 24 28 4
Paper 172 68 33 36 35 34 36 13 -17 2
Other 50 23 1 12 14 74 - 30 22 22
Operational EBIT Total 810 209 210 209 182 578 152 184 124 118

* Operational EBIT comprises the operating profit excluding 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). Fair valuations and non-operational items include equity incentive schemes, synthetic options net of realised and open hedges, CO2 emission rights and valuations of biological assets and the Group's share of tax and net financial items of EAI.

NRI*

EUR million 2014 Q4/14 Q3/14 Q2/14 Q1/14 2013 Q4/13 Q3/13 Q2/13 Q1/13
Consumer Board - - - - - 124 144 -28 8 -
Packaging Solutions 8 8 - - - -4 - - -4 -
Biomaterials - - - - - 2 -8 -1 11 -
Wood Products -11 2 - - -13 -7 - - - -7
Paper -329 -235 28 -115 -7 -644 -538 8 -30 -84
Other 53 - - 9 44 -10 10 -2 -18 -
NRI on Operating Profit/Loss Total -279 -225 28 -106 24 -539 -392 -23 -33 -91

* 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.

FAIR VALUATIONS AND NON-OPERATIONAL ITEMS*

EUR million 2014 Q4/14 Q3/14 Q2/14 Q1/14 2013 Q4/13 Q3/13 Q2/13 Q1/13
Consumer Board -60 -58 -4 - 2 -1 - -1 - -
Packaging Solutions -1 - - - -1 - - - - -
Biomaterials -4 3 -2 -2 -3 5 13 -4 -2 -2
Wood Products -1 - - - -1 - - - - -
Paper -1 - - 1 -2 2 3 -1 - -
Other -64 -24 -17 -17 -6 5 14 1 -6 -4
FV and Non-operational Items on Operating Profit Total -131 -79 -23 -18 -11 11 30 -5 -8 -6

* Fair valuations (FV) and non-operational items include equity incentive schemes, synthetic options net of realised and open hedges, CO2 emission rights, valuations of biological assets and the Group's share of tax and net financial items of EAI.

OPERATING PROFIT/LOSS

EUR million 2014 Q4/14 Q3/14 Q2/14 Q1/14 2013 Q4/13 Q3/13 Q2/13 Q1/13
Consumer Board 232 -14 91 91 64 340 184 38 64 54
Packaging Solutions 125 38 35 23 29 97 33 33 17 14
Biomaterials 85 37 22 8 18 84 29 12 23 20
Wood Products 77 12 22 37 6 68 19 24 28 -3
Paper -158 -167 61 -78 26 -608 -499 20 -47 -82
Other 39 -1 -16 4 52 69 24 29 -2 18
Operating Profit/Loss (IFRS) Total 400 -95 215 85 195 50 -210 156 83 21

CASH FLOW FROM OPERATIONS

EUR million 2014 Q4/14 Q3/14 Q2/14 Q1/14 2013 Q4/13 Q3/13 Q2/13 Q1/13
Consumer Board 386 127 101 100 58 364 96 141 96 31
Packaging Solutions 182 43 58 39 42 151 50 53 26 22
Biomaterials 136 17 27 61 31 114 42 48 24 -
Wood Products 86 33 52 6 -5 125 43 42 49 -9
Paper 354 213 72 59 10 382 179 56 115 32
Other -5 9 -53 23 16 116 52 7 7 50
Cash Flow from Operations Total 1 139 442 257 288 152 1 252 462 347 317 126

CASH FLOW AFTER INVESTING ACTIVITIES

EUR million 2014 Q4/14 Q3/14 Q2/14 Q1/14 2013 Q4/13 Q3/13 Q2/13 Q1/13
Consumer Board 60 16 -21 44 21 206 51 111 41 3
Packaging Solutions 128 21 45 29 33 69 36 42 7 -16
Biomaterials -108 -40 -30 -7 -31 -231 -36 -33 -73 -89
Wood Products 58 15 48 3 -8 97 30 37 41 -11
Paper 243 172 43 36 -8 248 123 5 99 21
Other -126 -6 -57 -76 13 92 42 2 2 46
Cash Flow after Investing Activities Total 255 178 28 29 20 481 246 164 117 -46

OPERATIONAL ROOC* FOR DIVISIONS AND OPERATIONAL ROCE** FOR GROUP

2014 Q4/14 Q3/14 Q2/14 Q1/14 2013 Q4/13 Q3/13 Q2/13 Q1/13
Consumer Board 17.8% 10.0% 22.4% 22.7% 15.7% 14.4% 10.7% 18.3% 14.8% 14.6%
Packaging Solutions 14.1% 14.5% 16.0% 10.4% 13.5% 11.3% 14.7% 14.7% 9.2% 6.1%
Biomaterials 3.9% 5.6% 4.2% 1.8% 4.0% 3.8% 4.6% 3.3% 2.6% 4.2%
Wood Products 17.3% 7.6% 16.0% 27.1% 15.3% 13.9% 14.4% 17.7% 20.0% 2.8%
Paper 9.4% 15.1% 6.7% 7.1% 6.8% 1.4% 6.1% 1.9% -2.4% 0.3%
Group Total, ROCE 9.5% 9.7% 9.7% 9.8% 8.6% 6.5% 7.0% 8.3% 5.4% 5.1%

* Operational ROOC = 100% x Operational EBIT/Average operating capital
** Operational ROCE = 100% x Operational EBIT/Average capital employed

OPERATING CAPITAL

EUR million 31 Dec 2014 31 Dec 2013
Consumer Board 1 727 1 560
Packaging Solutions 783 892
Biomaterials 2 456 2 083
Wood Products 513 516
Paper 1 614 2 060
Other 1 465 1 439
Operating Capital Total 8 558 8 550

For further information, please contact:
Seppo Parvi, CFO, tel. +358 2046 21205
Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358 2046 21242
Ulrika Lilja, EVP, Global Communication, tel. +46 1046 71668

www.storaenso.com

www.storaenso.com/investors

Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wood and paper on global markets. Our aim is to replace non-renewable materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 27 000 people in more than 35 countries, and our sales in 2014 were EUR 10.2 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) on the International OTCQX over-the-counter market.

STORA ENSO OYJ

Source:Stora Enso Oyj