Stora Enso Oyj - Company Announcement

Stora Enso's non-recurring items at operating profit level in fourth quarter 2010 will total approximately positive EUR 223 million

Group will record a net reversal of impairment charge with a positive impact of
about EUR 238 million 

Helsinki, Finland, 2010-12-20 08:00 CET (GLOBE NEWSWIRE) -- STORA ENSO OYJ
STOCK EXCHANGE RELEASE 20 December 2010 at 09.00 EET 

Stora Enso will record a net reversal of impairment charge of about EUR 238
million following the fixed asset impairment testing undertaken in the fourth
quarter of 2010. The reversal of impairment charge, which will be recorded as a
non-cash non-recurring item (NRI) with a positive net impact on the fourth
quarter of 2010 results, is mainly due to the improvement in the outlook for
consumer board, fine paper and pulp, and Stora Enso's early cost improvement
actions. 

This reversal of impairment charge will increase the Group's annual
depreciation by approximately EUR 30 million and therefore correspondingly
reduce the Group's operating profit in the fourth quarter of 2010 by
approximately EUR 7 million. 

Impact of reversal of impairment charge on operating profit by segment:



Segment               EUR million
---------------------------------
Fine Paper                     65
---------------------------------
Consumer Board                173
---------------------------------
Industrial Packaging           -3
---------------------------------
Wood Products                   3
---------------------------------
Group net total               238
---------------------------------
The Group will also record a negative non-cash NRI of approximately EUR 15
million in the fourth quarter 2010 operating profit related to permanent
impairment of certain shares in equity accounted investments. 

Tax impact

The operating profit NRIs and recognition of deferred tax assets due to the
improved outlook will have a negative net tax impact of about EUR 38 million in
the fourth quarter of 2010. 

Stora Enso will publish its fourth quarter and full year 2010 results on 8
February 2011 at 13.00 EET (12.00 CET). 

For further information, please contact:

Markus Rauramo, CFO, tel. +358 2046 21121
Ulla Paajanen-Sainio, Head of Investor Relations, tel. +358 2046 21242

www.storaenso.com

www.storaenso.com/investors

Stora Enso is a global paper, packaging and wood products company producing
newsprint and book paper, magazine paper, fine paper, consumer board,
industrial packaging and wood products. The Group is the world leader in forest
industry sustainability. We offer our customers solutions based on renewable
raw materials. Our products provide a climate-friendly alternative to many
non-renewable materials, and have a smaller carbon footprint. Stora Enso is
listed in the Dow Jones Sustainability Index and the FTSE4Good Index. Stora
Enso employs some 27 000 people worldwide, and our sales in 2009 amounted to
EUR 8.9 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