Stora Enso Oyj - Company Announcement

Stora Enso CEO Jouko Karvinen comments on fourth quarter and full year 2013 results announced today

“Strong cash flow, solid progress in cost reduction”

Helsinki, Finland, 2014-02-05 12:01 CET (GLOBE NEWSWIRE) -- STORA ENSO OYJ
STOCK EXCHANGE RELEASE 5 February 2014 at 13.01 EET 


“We ended the fourth quarter and the year essentially as expected, with a
positive tone from cost reduction and working capital improvement. Both
contributed to very strong cash flow from operations, but they are also
essential metrics for successfully advancing on our transformation journey. 

“Within the Printing and Living Division, Printing and Reading segment  was
able to deliver solid cash flow for the year despite reduced profitability and
long term structural decline on the market. It is yet another proof point that
we must and can go on adjusting this business to the realities of the markets
we serve. Building and Living segment, which was the first of our businesses to
start its cost reduction programme, made progress on its turnaround with
clearly value-creating returns. 

“Renewable Packaging had a strong last quarter with significant year-on-year
improvement in earnings and cash flow. Finally, in Biomaterials the focus was
and remains on starting up Montes del Plata Pulp Mill in the early months of
2014, as we said in October. The reports on the degree of completion and
quality of the commissioning efforts remain positive. 

“Like many other years before, the year 2013 included difficult decisions
affecting many of our employees. That is a price we must pay to transform our
company. 

“We have started 2014 in a positive mood. With the recent investment in
Ostrołęka Mill in full swing, Montes del Plata to follow soon and our China
project progressing with encouraging early experience from forestry and the
mill site works, this will be a thrilling year. This is a string of pearls we
will continue to build on whilst adjusting the business and Group cost
structures to the realities of the surrounding world. An exciting journey, and
we are making real progress.” 


For further information, please contact:
Jouko Karvinen, CEO, tel. +358 2046 21410

www.storaenso.com
www.storaenso.com/investors

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