Stora Enso’s 3Q 2019 sales decreased 7.1% or Euro 183 million from last year's record high level to Euro 2 402 million. Significantly lower pulp, containerboard and sawn goods prices, with significantly lower paper deliveries and the divestment of Dawang Mill in China were only partly offset by positive sales currency rates.
Operational EBIT decreased 35% or Euro 127 million from last year's record high level to Euro 231 million. The operational EBIT margin decreased by over 4 percentage points to 9.6%.
Stora Enso’s CEO Karl-Henrik Sundström said: “As a company, we are preparing for the next market upturn through our profit protection programme which is proceeding ahead of plan. Since we were out early in launching it, we are building the prerequisites for a better and more profitable future when the cycle turns. It is important to take advantage of today's situation to build a more future-proof company by being one step ahead and working proactively. To advance even further, we have increased the target to Euro 275 million from Euro 200 million and extended the programme until the end of 2021.”
Source: Lesprom Network