Stora Enso Reports Impairments Of 724 Mn Euros [Barron's]
STORA ENSO OYJ ADR R SH (SEOAY)
NASDAQ:AMEX Investor Relations:
storaenso.com/investors
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Source: Barrons
The company said the impairments were mainly a result of it predicting a weaker cash flow in the long-term from its packaging divisions in China and western Europe and its wood products division in northern Europe. "The main reasons behind the weaker estimates are lower sales prices, increasing costs and a weaker market supply-demand situation compared to a year ago", Stora Enso said in a statement. Taking into account a positive tax effect of approximately 56 million euros, the estimated negative net impact will be around 668 million euros, the company said. Stora Enso will report its full-year results on February 11. In October, Stora Enso reported a 6.9 percent drop in sales to 6.7 billion euros in the first nine months of 2024, and a net profit of 195 million euros for the same period. The company's shares were down over three percent in the early hours of trading on the Helsinki Stock Exchange. ank/jll/cw The Barron's news department was not involved in the creatio
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News
- Stora Enso Oyj: Notification of Change in Holdings according to Chapter 9, Section 10 of the Finnish Securities Markets Act (25 December 2024)PR Newswire
- Stora Enso Oyj: Notification of Change in Holdings according to Chapter 9, Section 10 of the Finnish Securities Markets Act (24 December 2024)PR Newswire
- Wood Pellets Market Projected to Reach USD 20.5 Billion by 2032 | Rising Demand for Renewable Energy Drives Market Growth [Yahoo! Finance]Yahoo! Finance
- Stora Enso's fourth quarter 2024 impairment test results [Yahoo! Finance]Yahoo! Finance
- Stora Enso's fourth quarter 2024 impairment test resultsPR Newswire