|Bid||12.52 x 284600|
|Ask||12.53 x 283700|
|Day's Range||12.32 - 12.55|
|52 Week Range||10.92 - 17.80|
|Beta (5Y Monthly)||0.93|
|PE Ratio (TTM)||6.61|
|Forward Dividend & Yield||0.60 (4.96%)|
|Ex-Dividend Date||Mar 17, 2023|
|1y Target Est||N/A|
"Demand for most of our products is weak or weakening and market uncertainties are persisting," Chief Executive Annica Bresky said in a statement, adding the company's January-March results were "very disappointing." Last week Stora Enso cut its full-year guidance, saying soaring costs would result in operational profit falling by more than half for 2023, compared to 1.89 billion euros ($2.09 billion) reported for 2022. Falling global demand for pulp and container boards and weaker-than-expected recovery in China has hit the Nordic forestry sector, leading Finnish rival Metsa Board to cut its full-year guidance earlier in April.
PI, AMP and SEOAY made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on January 31, 2023.
SEOAY, SNEX, PI, HCC and ADM have been added to the Zacks Rank #1 (Strong Buy) List on January 31, 2023.
HELSINKI (Reuters) -Stora Enso on Tuesday said higher costs would be likely to squeeze its margins in 2023 after the Finnish forestry group produced its strongest annual results in more than 20 years, although profit declined in the fourth quarter. "Stora Enso enters the new year with market softness and variable cost pressures which are expected to be more challenging in 2023 than in 2022 weighing on our results this year," the company said in a statement. The company booked some 185 million euros in losses last year from the sale of its Russian operations, which it announced in April and in May. The Russian the exit also reduced its fourth-quarter profitability by 20 million euros compared with a year ago.
Finnish forestry company Stora Enso on Friday said it plans to divest its consumer board production plant in Beihai, China. "The divestment ... would allow Stora Enso to accelerate its strategy by focusing on cost-efficient sites serving the growing global packaging market," the company said, adding it had no timeline for completion of a sale. Stora, which has now initiated a sales process, would also sell its eucalyptus plantation operations that supply the site, it said.
Unlikely breakthrough comes from Europe’s largest forestry company
(Reuters) -Finnish forestry firm Stora Enso warned on Friday that fourth-quarter profit for its packaging business, its biggest division, would be hurt by soaring energy costs, sending its shares sliding. European manufacturers are grappling with sharp rise in energy prices caused by Russian curbs on natural gas. Stora Enso said its paper division, while seeing solid demand, would also be hit by higher energy costs as well as maintenance work.
Finnish forestry group Stora Enso said on Tuesday it would sell its Maxau paper production site in Germany to Schwarz Group, the owner of discount supermarket chains Lidl GB and Kaufland. The transaction is part of Stora Enso's plan to divest four of its five remaining paper production sites as it shifts its focus to packaging. "Schwarz's plan is to continue paper production at the site, and the 440 employees belonging to the mill organisation at Maxau will be part of the transaction," Stora Enso said in a statement.
Swedish battery maker Northvolt and Finnish-Swedish forestry company Stora Enso are trying to develop batteries from forestry byproduct lignin, the companies said on Friday. After years of research and development, it could be turned into new products by forestry giants letting go of paper. "Our lignin-based hard carbon...will secure the strategic European supply of anode raw material," head of Stora's biomaterials unit Johanna Hagelberg said in a statement outlining a development agreement between the companies.
European stock markets edged higher Friday, ending the week on a positive note despite the European Central Bank’s larger-than-expected interest rate as well as disappointing survey growth data. The ECB raised interest rates by 50 basis points from zero percent on Thursday, its first hike in 11 years, ending a policy of negative interest rates that had been in place since 2014. The hike was more than the 25 basis points increase that ECB President Christine Lagarde guided towards at the central bank’s June meeting, suggesting that the policymakers have become very concerned about inflation, with Eurozone CPI now at a record annual 8.6%, even at the expense of growth in the region.
Finnish forestry firm Store Enso said on Monday it had raised its full-year earnings guidance thanks to sustained strong market conditions. The company now expects its operating profit for 2022 to exceed last year's level of 1.53 billion euros ($1.60 billion), it said in a statement. The maker of pulp, packaging, wood construction materials and other forestry products previously guided for a profit approximately in line with the full year 2021.