Stora Enso Oyj - Inside information

Stora Enso raises its guidance for the full year 2024 adjusted EBIT (Inside information)

STORA ENSO OYJ INSIDE INFORMATION 15 May 2024 at 11:00 EEST

Stora Enso estimates that the previous full year 2024 adjusted EBIT guidance
will be exceeded, thanks to successful implementation of profit improvement
actions and more favourable market conditions. The Company has therefore revised
its full year 2024 adjusted EBIT guidance to be significantly higher (+50% and
above) than the full year 2023 of EUR 342 million. The previous guidance for the
full year 2024 was the adjusted EBIT to be higher (more than +15%, but less than
+50%) than full year 2023.
In the outlook comment in its Q1 2024 report, published on 25 April, Stora Enso
stated that it anticipates a gradual recovery in market conditions in 2024, with
increased demand for consumer board, higher pulp demand and prices. These market
trends are continuing with improved volume and pricing. The Group's profit
improvement actions are becoming visible in the result development.
Consequently, Stora Enso has revised its internal forecasts for the full year
2024 to a higher level than previously estimated.
The outlook has improved due to increasing orderbooks and volumes for consumer
board, as well as improved pricing outlook for the containerboard and consumer
board businesses. Pulp prices continue to increase, and the outlook for the rest
of this year is stronger than previously estimated. Challenging market
conditions still continue in the Wood Products and Packaging Solutions
divisions.
Market uncertainties such as a continued high inflationary environment, strikes,
demand and price development, and other external disruptions which may impact
the Group's profits, are still expected to persist towards the end of 2024.
Stora Enso Oyj will publish its Half-year Report for January-June 2024 on
Wednesday 24 July 2024 at approximately 8:30 EEST (7:30 CEST).
Part of the global bioeconomy, Stora Enso is a leading provider of renewable
products in packaging, biomaterials and wooden construction, and one of the
largest private forest owners in the world. Stora Enso has approximately 20,000
employees and our sales in 2023 were EUR 9.4 billion. Stora Enso shares are
listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE
R). In addition, the shares are traded in OTC Markets (OTCQX) in the USA as ADRs
and ordinary shares (SEOAY, SEOFF, SEOJF).
storaenso.com/investors (https://www.storaenso.com/en/investors)

STORA ENSO OYJ

For further information, please contact:
Carl Norell
SVP Corporate Communications
tel. +46 72 241 0349
Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 210 7691