Stora Enso Full-Year Report 2023

Year 2023 results

  • Sales were EUR 9,396 (11,680) million.
  • Operational EBIT was EUR 342 (1,891) million.
  • Operating result (IFRS) was EUR -322 (2,009) million.
  • Earnings per share (EPS) were EUR -0.45 (1.97) and EPS excl. fair valuations (FV) was EUR -0.73 (1.55).
  • Cash flow from operations amounted to EUR 954 (1,873) million. Cash flow after investing activities was EUR -40 (1,162) million.

Group sales decreased by 24%, or EUR 690 million, to EUR 2,174 (2,864) million. Sales prices were lower in all divisions, except Forest, despite the positive impact from active mix management. Lower demand decreased deliveries in all divisions. The sales contribution from the acquired De Jong Packaging Group was more than offset by the negative impact of other structural changes. These related to the paper site divestments at Nymölla and Hylte in Sweden, and Maxau in Germany, and the closures of the De Hoop board unit in the Netherlands, the Sunila pulp production site in Finland and the Näpi sawmill in Estonia. Group operational EBIT decreased to EUR 51 (355) million, and the operational EBIT margin decreased to 2.3% (12.4%). Lower sales prices in all divisions except for Forest decreased profitability by EUR 287 million.

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