In the first quarter of 2015, Stora Enso's operating profit and net profit for the period rose by 21 percent and 29 percent respectively despite a 3 percent decline in sales.
Stora Enso's CEO Karl-Henrik Sundström comments on the first quarter 2015 results:
“Stora Enso reports solid results for the first quarter, supported by foreign exchange tailwinds. Excluding the structurally declining paper business and divested business, sales increased 3.0% compared to the first quarter of 2014.
Operational EBIT increased 20.9% due to cost cutting and favourable exchange rates. Return on capital employed increased from 8.6% to 10.1%.
Stora Enso is continuing the transformation into a renewable materials growth company. We are already benefitting from the ongoing ramp-up of the pulp mill in Montes del Plata, Uruguay. In addition, we are just about to start lignin extraction at the Sunila Mill in Finland. Later this year, we will start producing kraftliner, virgin-fibre-based containerboard, at the Varkaus Mill in Finland. During 2015, we are also increasing the liquid packaging board capacity at the Imatra Mills in Finland. In the summer, we will finalise our investment at Murow sawmill in Poland, increasing its capacity of classic sawn products. Next year, we will start the new production line for wooden building elements at Varkaus. Furthermore, as a major driver of our transformation, the Guangxi consumer board mill is expected to be operational in mid-2016. We have an exciting period ahead of us.”
