Stora Enso Oyj - Company Announcement

Stora Enso CEO Jouko Karvinen comments on first quarter 2014 results announced today

“Significant progress in most areas - earnings improvements supported by fixed
cost reductions three months ahead of schedule” 

Helsinki, Finland, 2014-04-23 12:01 CEST (GLOBE NEWSWIRE) -- STORA ENSO OYJ
STOCK EXCHANGE RELEASE 23 April 2014 at 13.01 EET 


“Our first quarter results are a testimony to our commitment to continuous
improvement. Not only did our Group essentially complete the promised EUR 200
million fixed cost improvements compared with 2012 (excluding capacity
reduction impacts) three months ahead of schedule, but we also saw an
improvement in almost all of our businesses. This, combined with an improvement
in cash flow from operations year-on-year albeit in a seasonally weak quarter,
continues to be the foundation of our transformation strategy. 

“With 15% return on operating capital, Renewable Packaging had yet another
strong quarter, as did the Building and Living segment. Printing and Reading
also improved year on year both in operational EBIT supported by lower
depreciation and, in operational EBITDA due to cost reductions and capacity
closures. Finally Biomaterials, where operational EBIT was similar to last year
as a result of one-time land sales a year ago, is after a long delay ready to
start up Montes del Plata Pulp Mill once the operating licence is received from
the Uruguayan environmental authority Dinama. In China the first phase of the
consumer board mill project is in full implementation and we look forward to
starting adding its revenues and margins to the portfolio two years from now.
We are moving on our long journey of transformation. 

“When we build our future in the emerging growth markets, we will be
challenged, not least in the area of corporate social responsibility. As always
we will learn and improve not only operationally, but also in having a more
transparent, open dialogue with all our stakeholders whose support we also so
strongly need. During challenging times we will continue to improve  and not
let the local communities be excluded from the opportunities our investments
can offer when completed with patience, focus and transparency.” 


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 29 000 people worldwide, and our sales in 2013 amounted to
EUR 10.6 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