2015-03-18 08:00:02 CET
2015-03-18 08:00:06 CET
REGULATED INFORMATION
Stora Enso Oyj - Company Announcement
Stora Enso’s historical figures according to the new division structure
Helsinki, Finland, 2015-03-18 08:00 CET (GLOBE NEWSWIRE) -- STORA ENSO OYJ
STOCK EXCHANGE RELEASE 18 March 2015 at 9.00 EET
From the first quarter of 2015 onwards, Stora Enso will publish financial
figures for its five divisions and its segment Other.
As announced on 18 December 2014, Stora Enso has reorganised its divisional and
reporting structure. In Stora Enso, the IFRS reporting segments are formed by
divisions except for the segment Other.The new structure is valid from 1
January 2015 onwards. Stora Enso will report financial figures for the
divisions Consumer Board, Packaging Solutions, Biomaterials, Wood Products and
Paper and the segment Other.
The former Renewable Packaging division has been split into two separate
divisions: Consumer Board and Packaging Solutions. The Consumer Board division
operates five board mills in Finland, Sweden and Spain. The operations of the
Guangxi board mill project in China and the Bulleh Shah Packaging joint venture
in Pakistan also belong to Consumer Board. Packaging Solutions operates
container board mills in Finland and Poland and converting plants in ten
countries in Europe and Asia, including Inpac Packaging in China and India.
The new structure in the packaging business is a further step towards
strengthening Stora Enso's focus on customers, business performance and growth.
It also increases transparency in financial reporting.
Name until 31 Dec 2014 Name from 1 Jan 2015
----------------------------------------------------
----------------------------------------------------
Renewable Packaging -
- Consumer Board Division
- Packaging Solutions Division
----------------------------------------------------
Biomaterials Biomaterials Division
----------------------------------------------------
Building and Living Wood Products Division
----------------------------------------------------
Printing and Reading Paper Division
----------------------------------------------------
Other Other
----------------------------------------------------
The segment Other includes the Nordic forest equity-accounted investments,
Stora Enso's shareholding in Pohjolan Voima, operations supplying wood to the
Nordic mills and Group shared services and administration.
The historical figures according to the new reporting structure are presented
in the tables below.
SALES
EUR 2014 Q4/14 Q3/14 Q2/14 Q1/14 2013 Q4/13 Q3/13 Q2/13 Q1/13
million
--------------------------------------------------------------------------------
Consumer 2 297 554 583 596 564 2 241 523 564 581 573
Board
Packagin 1 065 263 276 259 267 1 061 268 274 264 255
g
Solutio
ns
Biomater 1 104 314 284 243 263 1 033 266 239 266 262
ials
Wood 1 779 415 429 490 445 1 867 466 460 500 441
Product
s
Paper 3 912 984 959 970 999 4 319 1 054 1 041 1 101 1 123
Other 2 567 645 579 654 689 2 690 672 612 685 721
Inter-se -2 511 -623 -596 -633 -659 -2 648 -637 -637 -671 -703
gment
sales
Sales 10 213 2 552 2 514 2 579 2 568 10 563 2 612 2 553 2 726 2 672
Total
--------------------------------------------------------------------------------
OPERATIONAL EBITDA*
EUR 2014 Q4/14 Q3/14 Q2/14 Q1/14 2013 Q4/13 Q3/13 Q2/13 Q1/13
million
--------------------------------------------------------------------------------
Consumer 439 81 129 126 103 361 74 105 92 90
Board
Packaging 183 46 51 40 46 161 48 47 37 29
Solutions
Biomateria 173 60 47 28 38 153 42 37 32 42
ls
Wood 126 19 30 47 30 115 30 33 39 13
Products
Paper 361 109 84 83 85 290 86 81 51 72
Other -13 -7 -8 2 0 10 -20 16 6 8
Operationa 1 269 308 333 326 302 1 090 260 319 257 254
l EBITDA
Total
--------------------------------------------------------------------------------
*Operational EBITDA comprises the operating profit excluding fixed asset
depreciation and impairment, share of results of equity accounted investments,
NRI and fair valuations.
OPERATIONAL EBIT*
EUR million 2014 Q4/14 Q3/14 Q2/14 Q1/14 2013 Q4/13 Q3/13 Q2/13 Q1/13
--------------------------------------------------------------------------------
Consumer 292 44 95 91 62 217 40 67 56 54
Board
Packaging 118 30 35 23 30 101 33 33 21 14
Solutions
Biomaterials 89 34 24 10 21 77 24 17 14 22
Wood 89 10 22 37 20 75 19 24 28 4
Products
Paper 172 68 33 36 35 34 36 13 -17 2
Other 50 23 1 12 14 74 - 30 22 22
-------------------------------------------------------------------
Operational 810 209 210 209 182 578 152 184 124 118
EBIT Total
--------------------------------------------------------------------------------
* Operational EBIT comprises the operating profit excluding NRI and fair
valuations of the segments and Stora Enso's share of the operating profit
excluding NRI and fair valuations of its equity-accounted investments (EAI).
Fair valuations and non-operational items include equity incentive schemes,
synthetic options net of realised and open hedges, CO2 emission rights and
valuations of biological assets and the Group's share of tax and net financial
items of EAI.
NRI*
EUR million 2014 Q4/14 Q3/14 Q2/14 Q1/14 2013 Q4/13 Q3/13 Q2/13 Q1/13
--------------------------------------------------------------------------------
Consumer - - - - - 124 144 -28 8 -
Board
Packaging 8 8 - - - -4 - - -4 -
Solutions
Biomaterials - - - - - 2 -8 -1 11 -
Wood -11 2 - - -13 -7 - - - -7
Products
Paper -329 -235 28 -115 -7 -644 -538 8 -30 -84
Other 53 - - 9 44 -10 10 -2 -18 -
-------------------------------------------------------------------
NRI on -279 -225 28 -106 24 -539 -392 -23 -33 -91
Operating
Profit/Loss
Total
--------------------------------------------------------------------------------
* NRI = Non-recurring items. These are exceptional transactions that are not
related to normal business operations. The most common non-recurring items are
capital gains, additional write-downs or reversals of write-downs, provisions
for planned restructuring and penalties. Non-recurring items are normally
disclosed individually if they exceed one cent per share.
FAIR VALUATIONS AND NON-OPERATIONAL ITEMS*
EUR million 2014 Q4/14 Q3/14 Q2/14 Q1/14 2013 Q4/13 Q3/13 Q2/13 Q1/13
--------------------------------------------------------------------------------
Consumer -60 -58 -4 - 2 -1 - -1 - -
Board
Packaging -1 - - - -1 - - - - -
Solutions
Biomaterials -4 3 -2 -2 -3 5 13 -4 -2 -2
Wood -1 - - - -1 - - - - -
Products
Paper -1 - - 1 -2 2 3 -1 - -
Other -64 -24 -17 -17 -6 5 14 1 -6 -4
FV and -131 -79 -23 -18 -11 11 30 -5 -8 -6
Non-operati
onal Items
on
Operating
Profit
Total
--------------------------------------------------------------------------------
* Fair valuations (FV) and non-operational items include equity incentive
schemes, synthetic options net of realised and open hedges, CO2 emission
rights, valuations of biological assets and the Group's share of tax and net
financial items of EAI.
OPERATING PROFIT/LOSS
EUR million 2014 Q4/14 Q3/14 Q2/14 Q1/14 2013 Q4/13 Q3/13 Q2/13 Q1/13
--------------------------------------------------------------------------------
Consumer 232 -14 91 91 64 340 184 38 64 54
Board
Packaging 125 38 35 23 29 97 33 33 17 14
Solutions
Biomaterials 85 37 22 8 18 84 29 12 23 20
Wood 77 12 22 37 6 68 19 24 28 -3
Products
Paper -158 -167 61 -78 26 -608 -499 20 -47 -82
Other 39 -1 -16 4 52 69 24 29 -2 18
-------------------------------------------------------------------
Operating 400 -95 215 85 195 50 -210 156 83 21
Profit/Loss
(IFRS)
Total
--------------------------------------------------------------------------------
CASH FLOW FROM OPERATIONS
EUR 2014 Q4/14 Q3/14 Q2/14 Q1/14 2013 Q4/13 Q3/13 Q2/13 Q1/13
million
--------------------------------------------------------------------------------
Consumer 386 127 101 100 58 364 96 141 96 31
Board
Packaging 182 43 58 39 42 151 50 53 26 22
Solutions
Biomateria 136 17 27 61 31 114 42 48 24 -
ls
Wood 86 33 52 6 -5 125 43 42 49 -9
Products
Paper 354 213 72 59 10 382 179 56 115 32
Other -5 9 -53 23 16 116 52 7 7 50
Cash Flow 1 139 442 257 288 152 1 252 462 347 317 126
from
Operation
s Total
--------------------------------------------------------------------------------
CASH FLOW AFTER INVESTING ACTIVITIES
EUR million 2014 Q4/14 Q3/14 Q2/14 Q1/14 2013 Q4/13 Q3/13 Q2/13 Q1/13
--------------------------------------------------------------------------------
Consumer 60 16 -21 44 21 206 51 111 41 3
Board
Packaging 128 21 45 29 33 69 36 42 7 -16
Solutions
Biomaterials -108 -40 -30 -7 -31 -231 -36 -33 -73 -89
Wood 58 15 48 3 -8 97 30 37 41 -11
Products
Paper 243 172 43 36 -8 248 123 5 99 21
Other -126 -6 -57 -76 13 92 42 2 2 46
Cash Flow 255 178 28 29 20 481 246 164 117 -46
after
Investing
Activities
Total
--------------------------------------------------------------------------------
OPERATIONAL ROOC* FOR DIVISIONS AND OPERATIONAL ROCE** FOR GROUP
2014 Q4/14 Q3/14 Q2/14 Q1/14 2013 Q4/13 Q3/13 Q2/13 Q1/13
--------------------------------------------------------------------------------
Consumer 17.8% 10.0% 22.4% 22.7% 15.7% 14.4% 10.7% 18.3% 14.8% 14.6%
Board
Packaging 14.1% 14.5% 16.0% 10.4% 13.5% 11.3% 14.7% 14.7% 9.2% 6.1%
Solutions
Biomateria 3.9% 5.6% 4.2% 1.8% 4.0% 3.8% 4.6% 3.3% 2.6% 4.2%
ls
Wood 17.3% 7.6% 16.0% 27.1% 15.3% 13.9% 14.4% 17.7% 20.0% 2.8%
Products
Paper 9.4% 15.1% 6.7% 7.1% 6.8% 1.4% 6.1% 1.9% -2.4% 0.3%
Group 9.5% 9.7% 9.7% 9.8% 8.6% 6.5% 7.0% 8.3% 5.4% 5.1%
Total,
ROCE
--------------------------------------------------------------------------------
* Operational ROOC = 100% x Operational EBIT/Average operating capital
** Operational ROCE = 100% x Operational EBIT/Average capital employed
OPERATING CAPITAL
EUR million 31 Dec 2014 31 Dec 2013
-------------------------------------------------
Consumer Board 1 727 1 560
Packaging Solutions 783 892
Biomaterials 2 456 2 083
Wood Products 513 516
Paper 1 614 2 060
Other 1 465 1 439
Operating Capital Total 8 558 8 550
-------------------------------------------------
For further information, please contact:
Seppo Parvi, CFO, tel. +358 2046 21205
Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358 2046 21242
Ulrika Lilja, EVP, Global Communication, tel. +46 1046 71668
www.storaenso.com
www.storaenso.com/investors
Stora Enso is a leading provider of renewable solutions in packaging,
biomaterials, wood and paper on global markets. Our aim is to replace
non-renewable materials by innovating and developing new products and services
based on wood and other renewable materials. We employ some 27 000 people in
more than 35 countries, and our sales in 2014 were EUR 10.2 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) on the
International OTCQX over-the-counter market.
STORA ENSO OYJ
© 2024 Nasdaq, Inc. All Rights Reserved |