Stora Enso reports weak printing and writing paper results, packaging paper strong

摘要

Despite a decline in sales versus the same period last year, Stora Enso is satisfied with results for the third quarter 2013. Group sales saw a drop of around 5% to €2.56bn (€2.69bn) which was offset by lower fixed and variable costs. Ongoing and completed restructuring and cost-saving measures have therefore already made an impact. EBITDA increased by 3% to €311 m (€302m) and EBIT by 3.4% to €184m (€178m). Operating profit decreased by 4.2% to €158m (€165m), net profit rose by 3.7% to €84m {€81 m). "On the whole, the quarter was betterthan expected and underlined the importance of our focus on costs", Jouko Karv-inen, CEO of Stora Enso, said commenting on the figures. The full extent of the €200m cost-cutting programme announced in April will be visible by the middle of 2014.