HELSINKI, Finland, Oct. 23, 2015 (GLOBE NEWSWIRE) -- Stora Enso's equity accounted investment Bergvik Skog AB in Sweden increases the IFRS fair value of its biological assets. Stora Enso's share of the increase, net of tax, is approximately SEK 4.1 billion (EUR 435 million) subject to normal year end verification. The increase in fair value will be recorded in the Group's IFRS operating profit in the fourth quarter of 2015. Stora Enso's share of the fair value of the biological assets in Bergvik Skog will be approximately SEK 22.2 billion (EUR 2.4 billion).The increase does not impact Stora Enso's operational EBIT.
The fair value change of Bergvik Skog's forest holdings is mainly due to the decrease from 6.25% to 5.2% of the post-tax discount rate used in the discounted cash flow based valuation of the biological assets.
Stora Enso's shareholding in Bergvik Skog AB is 49%.
For further information, please contact:
Ulla Paajanen-Sainio, SVP, Investor Relations, tel.: +358 40 763 8767
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.www.storaenso.com
STORA ENSO OYJ
Source:Stora Enso Oyj